Wallace, population 960, is one of seven incorporated towns in the beautiful Silver Valley. Interstate 90 and the South Fork of the Coeur d'Alene River run down the middle of this forty mile long valley centered between Lookout Pass and Fourth-of-July Pass. The Silver Valley is contained by Shoshone County, population 13,771. Traveling on I-90, the lake resort town of Coeur d'Alene is less than fifteen miles west of Fourth-of-July Pass, and the Montana border is a dozen miles east of Wallace at Lookout Pass. The closest major airports are in Spokane, Washington (32 miles west of Coeur d'Alene on I-90) and Missoula, Montana (108 miles east of Lookout Pass on I-90).

North of Wallace, over Dobson Pass, is the vast North Fork of the Coeur d'Alene River Basin recreational area, while 30 miles south of Wallace, over Moon Pass, is the town of Avery on the St. Joe River. The headwaters of this "Wild and Scenic River" entertain fly fisherfolk, rafters, kayakers, hikers and hunters from spring through fall. Moon Pass is not plowed however, so the area between Wallace and Avery becomes a winter wonderland for snowmobilers and backcountry skiers.

• In 2002, the readers of the Boise Weekly voted WALLACE to be the "Best City in Idaho."
• In 2003, a popular internet site ranked WALLACE #24 in the top 30 places to buy a second home.