This is a small community in a single neighborhood.
As throughout the site, some neighborhood-level data are reserved for subscribers.
What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Wallace is a tiny village located in the state of Nebraska. With a population of 302 people and just one neighborhood, Wallace is the 193rd largest community in Nebraska. Wallace has a large stock of pre-World War II architecture, making it one of the older and more historic villages in the country.
Wallace real estate is some of the most expensive in Nebraska, although Wallace house values don't compare to the most expensive real estate in the U.S.
Occupations and Workforce
Because occupations involving physical labor dominate the local economy, Wallace is generally considered to be a blue-collar town. 46.36% of the Wallace workforce is employed in blue-collar occupations, compared to the national average of 27.7%. Overall, Wallace is a village of managers, transportation and shipping workers, and construction workers and builders. There are especially a lot of people living in Wallace who work in business and financial occupations (12.73%), management occupations (9.09%), and office and administrative support (8.18%).
Of important note, Wallace is also a village of artists. Wallace has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Wallace’s character.
Setting & Lifestyle
Because of many things, Wallace is a very good place for families to consider. With an enviable combination of good schools, low crime, college-educated neighbors who tend to support education because of their own experiences, and a high rate of home ownership in predominantly single-family properties, Wallace really has some of the features that families look for when choosing a good community to raise children. Is Wallace perfect? Of course not, and if you like frenetic nightlife, it will be far from your cup of tea. But overall this is a solid community, with many things to recommend it as a family-friendly place to live.
The village is relatively quiet, having a combination of lower population density and few of those groups of people who have a tendency to be noisy. For example, Wallace has relatively fewer families with younger children, and/or college students. Combined, this makes Wallace a pretty quiet place to live overall. If you like quiet, you will probably enjoy it here.
Residents of the village have the good fortune of having one of the shortest daily commutes compared to the rest of the country. On average, they spend only 16.16 minutes getting to work every day.
As is often the case in a small village, Wallace doesn't have a public transportation system that people use for their commute.
Demographics
The education level of Wallace citizens is substantially higher than the typical US community, as 32.88% of adults in Wallace have at least a bachelor's degree.
The per capita income in Wallace in 2022 was $33,260, which is lower middle income relative to Nebraska, and middle income relative to the rest of the US. This equates to an annual income of $133,040 for a family of four. However, Wallace contains both very wealthy and poor people as well.
Wallace is a somewhat ethnically-diverse village. 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. Wallace also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 13.60% of the village’s residents. Important ancestries of people in Wallace include German, Swedish, Irish, English, and European.
The most common language spoken in Wallace is English. Other important languages spoken here include Spanish and Italian.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the neighborhood may actually hold the key. 73.6% of its residents are married, which is a higher percentage than is found in 98.6% of the neighborhoods in America.
In addition, if you're looking for a great spot to raise a family, then look no further than the neighborhood. NeighborhoodScout's analysis found that the combination of good quality public schools, above-average safety from crime, and a high rate of home ownership in predominantly single-family homes, help make this neighborhood among the top 13.6% of family-friendly neighborhoods across the state of Nebraska. In addition, there are a high proportion of other families with school-aged children living here, making it easy for parents and their children to socialize and develop a sense of community support. In addition, families here highly value education, as is reflected by the strength of the local schools, in part due to the educational attainment of the parents here, who vote in support of the public schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees.
Real Estate
Unpopulated, and rural, the neighborhood is one of the least crowded neighborhoods in all of America. If you like open space, no traffic, and lots of room, this neighborhood may be just what you are looking for. According to NeighborhoodScout's leading research, this neighborhood is less densely populated than 98.4% of the neighborhoods in America.
Diversity
Did you know that the neighborhood has more German and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 40.3% of this neighborhood's residents have German ancestry and 2.5% have Danish ancestry.
The Neighbors
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the neighborhood in Wallace are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.5% of the neighborhoods in America. In addition, 4.4% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 66.2% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the neighborhood, 36.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 31.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.3%), and 8.6% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the neighborhood is English, spoken by 96.5% of households. Some people also speak Polish (4.0%).
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the neighborhood in Wallace, NE, residents most commonly identify their ethnicity or ancestry as German (40.3%). There are also a number of people of Irish ancestry (12.3%), and residents who report English roots (8.4%), and some of the residents are also of Mexican ancestry (3.6%), along with some Swedish ancestry residents (3.6%), among others.
Getting to Work
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in neighborhood spend between 15 and 30 minutes commuting one-way to work (52.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (86.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
