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Studio Apartment for Rent in Wallace, NC

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    $450 Per Month

    • Studio
    • 1 Bath
    • House for Rent

    125 Philip McClung Ln, Wallace, NC 28466

    RV lot for lease at 125 Philip McClung Ln, Lot 142 in Wallace. This lot includes water and electricity, providing a convenient setup for RV living. With a monthly rent of $450, it offers a great opportunity for renters seeking an affordable housing option with lower monthly payments. Lot leasing can be an excellent choice for tenants looking for flexible living arrangements and lower housing

    125 Philip McClung Ln, Wallace, NC 28466

Why Live in Wallace

Wallace, NC, is a small town with deep agricultural roots, known for its large livestock herds and produce. Located less than an hour from Jacksonville and Wilmington, Wallace offers a rural lifestyle with modern conveniences. Downtown features midcentury ranch-style homes, renovated cottages, and Cape Cods, while the outskirts boast custom-built and contemporary properties. River Landing, a gated community, attracts new residents with its spec housing. Farrior Park, anchored by Boney Mill Pond, provides recreational activities like fishing, kayaking, and canoeing, along with a playground and walking trail. Essential errands are easily managed with stores like Piggly Wiggly, Walmart, and Tractor Supply, while West Main Street hosts locally owned shops and restaurants. The Mad Boar offers comfort food and live music on weekends. Wallace celebrates the Carolina Strawberry Festival every May, featuring live music, carnival rides, and a wine and beer garden. Duplin County Schools serve the area, with Wallace Elementary and Wallace-Rose Hill High School providing education. Light traffic and proximity to major routes make commuting easy, with Wilmington 39 miles away and the beach just a 45-minute drive. Wallace's low crime risk areas contribute to its appeal for those seeking a quiet yet accessible place to live.

Frequently Asked Questions

How much does it cost to rent a home in Wallace, NC?
The median rent for a home in Wallace, NC is $3,900 per month, though prices vary by neighborhood, size, and property type. As of May 2026, townhouses tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Wallace, NC?
To comfortably afford the median rent in Wallace, NC, a household needs to earn roughly $156,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $3,900 per month in Wallace, NC, renters typically need to show $11,700 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Wallace, NC?
In Wallace, NC, the price-to-rent ratio is 8.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends in Wallace, NC

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$3,900
Median Single Family Home Rent
$2,750
Median Townhouse Rent
$1,100
How to Rent a Home