Wallace is located in southwest Nebraska. Wallace is between the Lincoln, Hayes, Perkins county. Wallace has 0.71 square miles of land area and has no water area. As of 2010-2014, the total Wallace population is 338, which has grown 2.74% since 2000. The population growth rate is much lower than the state average rate of 8.44% and is much lower than the national average rate of 11.61%. Wallace median household income is $52,875 in 2010-2014 and has grown by 43.80% since 2000. The income growth rate is higher than the state average rate of 33.50% and is much higher than the national average rate of 27.36%. Wallace median house value is $72,800 in 2010-2014 and has grown by 33.09% since 2000. The house value growth rate is lower than the state average rate of 47.84% and is 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 better than the state average in quality. The Wallace area code is 308.