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Real Estate Prices & Overview

Wallace median real estate price is $568,703, which is more expensive than 70.3% of the neighborhoods in Florida and 72.3% of the neighborhoods in the U.S.

The average rental price in Wallace is currently $160, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 100.0% of Florida neighborhoods.

Wallace is a rural neighborhood (based on population density) located in Milton, Florida.

Wallace real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Wallace neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Wallace are 3.9%, which is lower than one will find in 74.4% of American neighborhoods. Demand for real estate in Wallace is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Milton, the Wallace neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

According to NeighborhoodScout's exclusive analysis, Wallace is among the best neighborhoods for families in Florida. In fact, this neighborhood is more family-friendly than 99.2% of neighborhoods in the entire state of Florida. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Wallace neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. 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. 13.3% 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 97.9% of all neighborhoods in America.

Real Estate

If you like the look and ambience of new homes and newly built neighborhoods, you will love the Wallace neighborhood. A whopping 70.4% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 95.9% of the neighborhoods in the U.S. Everything here just feels new.

In addition, the Wallace neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 97.4% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 95.4% of all neighborhoods in America.

Diversity

Did you know that the Wallace neighborhood has more Brazilian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Brazilian ancestry and 3.6% have Russian 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 Wallace neighborhood in Milton are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.1% of the neighborhoods in America. In addition, 6.8% 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 59.1% 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 Wallace neighborhood, 47.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 24.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.5%), and 9.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Wallace neighborhood is English, spoken by 89.8% of households.

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 Milton, FL, residents most commonly identify their ethnicity or ancestry as German (14.8%). There are also a number of people of English ancestry (12.7%), and residents who report Irish roots (12.6%), and some of the residents are also of Asian ancestry (8.6%), along with some French ancestry residents (6.6%), 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 Wallace neighborhood spend between 15 and 30 minutes commuting one-way to work (42.3% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (13.3%) who commute over an hour in each direction.

Here most residents (76.1%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
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Educational Expenditures

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