This was 1.3 percent lower than the state average of 31.4 percent. In 2020 the total municipality population reached 951.
91.9 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Wallace Ridge for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 53 | 8.1 |
| Regular high school diploma | 163 | 24.9 |
| GED or alternative credential | 38 | 5.8 |
| Some college, less than 1 year | 43 | 6.6 |
| Some college, 1 or more years, no degree | 160 | 24.5 |
| Associate's degree | 23 | 3.5 |
| Bachelor's degree | 127 | 19.4 |
| Master's degree | 41 | 6.3 |
| Professional school degree | 6 | 0.9 |
| Doctorate degree | 0 | 0 |
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