Wallace is located close to the center of Indiana. Wallace is part of Fountain County. Wallace has 0.09 square miles of land area and has no water area. As of 2010-2014, the total Wallace population is 127, which has grown 27.00% since 2000. The population growth rate is much higher than the state average rate of 7.60% and is much higher than the national average rate of 11.61%. Wallace median household income is $28,750 in 2010-2014 and has has shrunk by 27.37% since 2000. The income growth rate is much lower than the state average rate of 17.25% and is much lower than the national average rate of 27.36%. Wallace median house value is $57,500 in 2010-2014 and has shrunk by -23.13% since 2000. The house value growth rate is lower than the state average rate of 30.12% and is much lower than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Wallace is worse than the state average in quality. The Wallace area code is 765.