Home Insurance in Wallace, North Carolina
The median home value in Wallace is $178,000, 30% higher than the Duplin County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Wallace was built around 1977. About 36% of homes were built before 1960, about 18 points above Duplin County's 18%.
In Wallace, the housing stock is 63% single-family homes, 6% apartments in buildings with 5+ units and 12% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
35% of owner-occupied homes in Wallace carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 58% of occupied homes in Wallace are owner-occupied. The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Wallace, 82% of homes are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Duplin County's overall risk as Relatively Moderate, led by hurricane (Relatively High). Duplin County had 552 active NFIP flood policies as of September 2026. See the full Duplin County home insurance overview for all FEMA hazard ratings and flood coverage details.
In North Carolina, the statewide average premium for a standard HO-3 homeowners policy is $1,852 per year (NAIC, 2023 data).
Key figures
| Median home value | $178,000 |
|---|---|
| Median year built | 1977 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 35% |
| Top county hazard | Hurricane (Relatively High) |
| Active NFIP policies in Duplin County | 552 |
| Home insurance premium | $1,852 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)