Wallace is a very small town located in the state of North Carolina. With a population of 3,531 people and three associated neighborhoods, Wallace is the 231st largest community in North Carolina.

Wallace is a small town, and as such doesn't have a public transit system that people use to get to and from their jobs every day.

The percentage of people in Wallace with college degrees is quite a bit lower than the national average for cities and towns of 21.84%: just 11.53% of people over 25 have a bachelor's degree or advanced degree.

The per capita income in Wallace in 2022 was $25,823, which is lower middle income relative to North Carolina, and low income relative to the rest of the US. This equates to an annual income of $103,292 for a family of four. However, Wallace contains both very wealthy and poor people as well. Wallace also has one of the higher rates of people living in poverty in the nation, with 30.45% of its population below the federal poverty line.

Wallace is an extremely ethnically-diverse town. The people who call Wallace home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Wallace residents report their race to be White, followed by Black or African-American. Wallace also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 24.18% of the town’s residents. Important ancestries of people in Wallace include English, German, Scottish, Bahamian, and French.

The most common language spoken in Wallace is English. Other important languages spoken here include Spanish and Italian.