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Real Estate Prices & Overview

Wallace median real estate price is $689,166, which is less expensive than 67.3% of California neighborhoods and 20.9% of all U.S. neighborhoods.

The average rental price in Wallace is currently $2,175, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 84.2% of California neighborhoods.

Wallace is a rural neighborhood (based on population density) located in Valley Springs, California.

Wallace real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Wallace neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Wallace has a 11.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.2% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (9.3%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Valley Springs, the Wallace neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Wallace neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you're planning where to retire, the Wallace neighborhood in Valley Springs is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in CA, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 85.4% of the neighborhoods in California. If you are considering retiring to California, this is a good neighborhood to look at.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Wallace neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 40.3% of the households here have four, five, or more cars. That is more cars per household than in 98.3% of the neighborhoods in the nation.

Real Estate

Real estate in the Wallace neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 95.0% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Wallace neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Wallace neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 9.6% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.0% of all neighborhoods in America.

Diversity

Did you know that the Wallace neighborhood has more Lebanese and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Lebanese ancestry and 4.3% have Arab ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Wallace neighborhood in Valley Springs are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 73.9% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Wallace neighborhood, 32.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 24.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.8%), and 18.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Wallace neighborhood is English, spoken by 93.9% of households. Some people also speak Spanish (3.8%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Wallace neighborhood in Valley Springs, CA, residents most commonly identify their ethnicity or ancestry as English (17.3%). There are also a number of people of German ancestry (16.0%), and residents who report Irish roots (14.0%), and some of the residents are also of Mexican ancestry (8.1%), along with some Italian ancestry residents (6.4%), 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 Wallace neighborhood spend between 45 minutes and one hour commuting one-way to work (33.1% of working residents), longer and tougher than most commutes in America.

Here most residents (73.3%) 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 (16.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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