Cost of Living in Wallace, LA

With a cost of living index of 89, Wallace, LA is a very affordable place to live. Living here is 11% cheaper than the national average and 15% above the Louisiana state average of 74. Wallace is a small community of 1,383 residents.

The median household income in Wallace is $98,750, which is 31% higher than the national median of $75,149.

Climate is another factor for anyone considering a move to Wallace. The area sees an average annual temperature of 70.5°F, with summers averaging 83°F and winters around 56°F. Annual rainfall totals 63.3 inches spread over roughly 115 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the New Orleans-Metairie, LA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.