Wallace is a town in Duplin and Pender counties in the U.S. state of North Carolina. The population was 3,883 at the 2020 census. The Pender County portion of Wallace is part of the Wilmington Metropolitan Statistical Area. The town of Wallace was first known as Duplin Crossroads and was incorporated into existence in 1873. Later in 1899, the town fathers decided to adopt the new name, Wallace, to honor Stephen D. Wallace, an official of the Atlantic Coast Line Railroad. Wallace is Duplin County's largest population and retail trade center serving over 50,000 people in a surrounding three county area.