Housing decision brief
Wallace County, KS Housing Market
Wallace County screens as a below-state purchase price, below-state rent, a manageable tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
25th lowest home value out of 105 Kansas counties with data | 4th lowest rent out of 105
Median home value
$94,200
Purchase-price signal from Census ACS.
Median rent
$578/mo
Gross rent, including utilities where reported.
Monthly owner cost
$679/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
1.6x
Median home value divided by local household income.
Rent burden
16.0%
Below 30% usually screens as less pressured.
Rent vs own
$101/mo
Median rent screens below owner cost.
Data confidence
2 notes
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$94,200 median home value is 21% below Kansas county median
Lower rent
$578/mo is 24% below Kansas county median
Rent burden below pressure line
16.00% of renter income goes to rent, below the 30% burden threshold.
Low disaster-risk signal
Risk score is 98.9 out of 100, a stronger cross-check for long-term ownership costs.
What to Check
Lower income base
$60,263 median income is 5% below Kansas county median
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Buyers comparing homes to local incomes
- Renters trying to keep rent below the burden threshold
- Long-term owners who care about disaster-risk exposure
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Households dependent on a deep local wage market
- Buyers focused only on purchase price and ignoring annual property tax
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Wallace County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $94,200 | $118,700 | $281,900 | 21% favorable21% below Kansas county median |
Median gross rent Lower usually helps affordability. | $578 | $758 | $1,163 | 24% favorable24% below Kansas county median |
Monthly owner cost Lower usually helps affordability. | $679 | $780 | $1,672 | 13% favorable13% below Kansas county median |
Median household income | $60,263 | $63,136 | $74,755 | 5% pressure5% below Kansas county median |
Effective property-tax rate Lower usually helps affordability. | 1.54% | 1.55% | 1.02% | Near state median1% below Kansas county median |
Rent burden Lower usually helps affordability. | 16.00% | 24.00% | N/A | 33% favorable16.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$37,143
Median income minus rent threshold.
Owner cushion
+$31,163
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Wallace County offers affordable rental housing at a median of $578/month , about 11.5% of the typical household income here.
Rent vs own
At $578/month rent versus $679/month in owner costs, renting is roughly $101/month cheaper , a 15% difference.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $23,120/year. For owner costs at the 28% rule, the required income is roughly $29,100/year. With a median household income of $60,263, most households can comfortably afford rent here. Notably, 16.0% of renter households in Wallace County are cost-burdened, spending more than 30% of income on housing.
Regional context
Compared to Morton County where rent averages $637/month, Wallace County is approximately 9% less expensive.
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Phillips County, KS | $94,700 | $621/mo | Same-state comparison near $94,700 home value and $621/mo rent. |
| Smith County, KS | $91,000 | $601/mo | Same-state comparison near $91,000 home value and $601/mo rent. |
| Stafford County, KS | $96,700 | $613/mo | Same-state comparison near $96,700 home value and $613/mo rent. |
| Osborne County, KS | $84,700 | $591/mo | Same-state comparison near $84,700 home value and $591/mo rent. |
| Lincoln County, KS | $92,600 | $604/mo | Same-state comparison near $92,600 home value and $604/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
- Water-quality monitoring is based on 1 active site in recent WQP data.
Next Checks
Housing Questions for Wallace County
Is Wallace County affordable for buying a home?
Is renting or owning cheaper in Wallace County?
How much income do you need for housing in Wallace County?
What should I double-check before moving to Wallace County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.