MI area data
Wallace, MI
Wallace, MI.
Population: 1,320 (Census ACS)
The median home value in Wallace, MI is $225,613 — up 3.6% over the past year. Homes sell for a median $305,000 after a median 43 days on market. FEMA's National Risk Index rates the county's overall natural-hazard risk Relatively Low, with coldwave, lightning the top-rated hazards. Cost of living is 3.8% below the US average (BEA, metro/state-level).
$225,613
Median home value
+3.6%
1-year change
43
Median days on market
Relatively Low
Hazard risk (county)
Home values & appreciation
- Median home value
- $225,613
- 1-year appreciation
- +3.6%
- 3-year appreciation
- +14.9%
- 5-year appreciation
- +35.3%
- 10-year appreciation
- +137.3%
- All-time peak (2026-04)
- $226,593
- House Price Index (state)
- 400.5 (+3.7% YoY)
Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)
Market activity
- Median sale price
- $305,000
- Median list price
- $349,900
- Median price per sqft
- $135
- 1-year sale-price change
- +29.8%
- Median days on market
- 43 days
- Homes sold (recent period)
- 3
- For-sale inventory
- 7
- Sale-to-list ratio
- 93.6%
- Active listings
- 8
- 1-year forecast
- +3.8%
Source: recent area sales and market data (ZIP-level)
Rents
- Studio fair-market rent
- $745/mo
- 1BR fair-market rent
- $817/mo
- 2BR fair-market rent
- $1,014/mo
- 3BR fair-market rent
- $1,404/mo
- 4BR fair-market rent
- $1,426/mo
Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)
Affordability
- Cost of living index (Average)
- 96.2 (100 = US avg)
- Electricity rate (state-level)
- 20.0¢/kWh
- Natural gas rate (state-level)
- $10.90/MCF
- 30-year mortgage rate (national)
- 7.40%
- 15-year mortgage rate (national)
- 6.73%
Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)
Natural hazards & flood risk
- Overall hazard risk (county)
- Relatively Low
- Top hazards (county)
- coldWave, lightning
- Notable hazard ratings (county)
- hail: Relatively Low · tornado: Relatively Low · coldWave: Relatively Moderate · iceStorm: Relatively Low · lightning: Relatively Moderate · strongWind: Relatively Low
- FEMA flood zone
- C
- Flood risk level
- Minimal
- Wildfire risk to homes (county)
- Higher than 19% of US counties
- Buildings in wildfire direct-exposure zone
- 66.3%
- Radon potential (county)
- Moderate radon potential — EPA Zone 2 of 3
- EPA Superfund (NPL) sites within 5 mi
- None
Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL
Climate (30-year normals)
- Average annual temperature
- 44.0°F
- Average high
- 54.0°F
- Average low
- 34.0°F
- Annual precipitation
- 33.4 in
- Annual snowfall
- 48.9 in
- USDA plant hardiness zone
- 5a (extreme annual low -20 to -15°F)
Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)
Walkability & transit
- Walkability index
- 3.2 / 20
- Transit service frequency
- -99,999
- Jobs reachable by car (30 min)
- 689
- Jobs reachable by transit (45 min)
- 1,070
Source: EPA Smart Location Database (metropolitan block groups)
Amenities
- Airports within 30 mi
- 12
- Nearest airport
- Menominee–Marinette Twin County Airport (MNM) (12 mi)
- Nearest major airport
- Delta County Airport (ESC) (39 mi)
- Hospitals nearby (~15 mi)
- 5
- Hospitals include
- OSF ST FRANCIS HOSPITAL AND MEDICAL GROUP, AURORA MEDICAL CENTER BAY AREA, HSHS ST CLARE MEMORIAL HOSPITAL
- Avg hospital rating (CMS)
- 4.0 / 5
- Best hospital rating nearby (CMS)
- 4.0 / 5
- Solar radiation rating
- Fair (3.8 kWh/m²/day)
Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)
Migration
- Net migration (county)
- +29 tax filers
Source: IRS county-to-county migration data (county-level, ~12-month lag)
Housing stock
- Median year housing built
- 1,978
- Housing built before 1970
- 34.4%
- Housing built 2000 or later
- 18.5%
- Median annual property tax
- $1,217
- Mean commute to work
- 22 min
- Households with broadband internet
- 31.6%
Source: Census ACS 5-year estimates (ZIP-level)
Employment & development
- Total county employment
- 4,996
- Average weekly wage
- $986
- Top industries (by employment)
- Accommodation & Food, Wholesale Trade, Other Services
- Annual residential building permits (county)
- 28
Sources: BLS QCEW (county-level) · Census Building Permits (county-level)
How it compares
| Wallace | State median | US median | |
|---|---|---|---|
| Median home value | $225,613 | $242,800 | $288,527 |
| Median sale price | $305,000 | $265,000 | $325,000 |
| Median days on market | 43 days | 36 days | 51 days |
| Median annual property tax | $1,217 | $2,175 | $2,006 |
State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.
Area data compiled from public government, academic, and industry research feeds. Data sources →
Common questions
- What is the median home value in Wallace, MI?
- $225,613.
- What is the median sale price in Wallace, MI?
- $305,000.
- How long do homes take to sell in Wallace, MI?
- Median days on market: 43 days.
- What is typical rent in Wallace, MI?
- 2-bedroom fair-market rent: $1,014/month (HUD FMR — a 40th-percentile regulatory reference, not market-observed).
- What is the natural-hazard risk in Wallace, MI?
- Overall risk: Relatively Low (FEMA NRI, county-level). Top hazards: coldWave, lightning.
- Is Wallace, MI in a flood zone?
- Minimal (FEMA NFIP). FEMA flood zone C.
- What is the wildfire risk in Wallace, MI?
- Risk to homes is higher than 19% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
- What is the radon potential in Wallace, MI?
- Moderate radon potential — EPA Zone 2 of 3, county-level. EPA recommends testing every home regardless of zone.
- Are there Superfund sites near Wallace, MI?
- No current or proposed National Priorities List sites within 5 miles (EPA).
- Is Wallace, MI walkable?
- Walkability index: 3.2/20 (EPA Smart Location Database).
- What is the cost of living in Wallace, MI?
- Regional Price Parity: 96.2 (100 = US average) (Average) (BEA RPP, metro/state-level).
ZIP code for Wallace
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Data last updated
Most recent source refresh: Oct 2026. See all data sources →