Wallace, KS is a small town located in southwestern Kansas. The cost of living in Wallace is relatively low with the average two bedroom rental costing just $800 compared to the national average of $1,430. Additionally, the Grocery Cost Index (GCI) in Wallace is 93 compared to the US at 100, indicating groceries cost less than the national average in this area. Local companies in Wallace include Southwest Elevator which services elevators and lifts as well as L&K Lawn Care which provides lawn care services for local businesses and residences. Wallace also has a number of retail stores including an automotive supply store, grocery store, clothing boutique, hardware store and furniture store.
Wallace has an unemployment rate of 1.9%. The US average is 6.0%.
Wallace has seen the job market decrease by -3.4% over the last year. Future job growth over the next ten years is predicted to be 13.4%, which is lower than the US average of 33.5%.
Tax Rates for Wallace
- The Sales Tax Rate for Wallace is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Wallace is 5.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Wallace
- The average income of a Wallace resident is $18,350 a year. The US average is $28,555 a year.
- The Median household income of a Wallace resident is $43,000 a year. The US average is $69,021 a year.