Total monthly cost of ownership
Cost to Own a Home in Wallace, Louisiana
A $207,000 home here costs
$1,727per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,064. The real number is $662 higher every month — 62% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Wallace against St. John the Baptist Parish and Louisiana
| Measure | Wallace | St. John the Baptist Parish |
|---|---|---|
| Median home value | $206,900 | $184,000 |
| Median property tax | $1,293 | $829 |
| Effective tax rate | 0.625% | 0.451% |
| Median gross rent | — | $1,118 |
| Population | 1,383 | 41,342 |
The weather behind that power bill
Wallace sits in St. John the Baptist Parish, which averages a high of 91.6°F in its hottest month and a low of 42.9°F in its coldest, with 67.21" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 2,870 cooling and 1,342 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for St. John the Baptist Parish — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in St. John the Baptist Parish
Full St. John the Baptist Parish cost breakdown · Every county in Louisiana
Common questions
How much does it cost to own a home in Wallace?
A $207,000 home in Wallace, Louisiana costs approximately $1,727 per month with 20% down at 6.66%. That is $1,064 principal and interest, $108 property tax, $187 homeowners insurance, $195 utilities and $173 set aside for maintenance.
What is the property tax rate in Wallace?
Wallace has an effective property tax rate of 0.625%, based on a median home value of $206,900 and median real estate taxes of $1,293. That is higher than the St. John the Baptist Parish average of 0.451%.
What is the average home price in Wallace?
The median owner-occupied home value in Wallace, Louisiana is $206,900, against $184,000 across St. John the Baptist Parish.
Is it cheaper to rent or buy in Wallace?
Rent data is not published for Wallace at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wallace — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Louisiana.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.