Wallis, TX

Wallis is a small town located in Wallis County, Texas. The population was 1,811 at the 2010 census. Wallis is known for its oil and gas production and its agricultural economy. The town was founded in 1892 by J.D. Wallis and his brother-in-law, A.C. McCoy, as a supply center for the oil fields around Beaumont.

The town's economy has been based largely on oil production and agriculture since its founding, but it has also developed into a regional center for commerce and services due to its proximity to Houston and Beaumont. Major employers in the town include Schlumberger Limited (a global technology services company), Halliburton Energy Services (a provider of energy services), ExxonMobil Corporation (the largest publicly traded oil company in the world), and Valero Energy Corporation (the second largest refiner of petroleum products in the United States). In addition to these major businesses, there are many smaller businesses that provide goods and services to residents of Wallis County.

The real estate market in Wallis is characterized by moderate growth rates due to limited availability of land within the town limits as well as high demand from residents who commute to jobs in Houston or Beaumont. The median price of homes sold in Wallis during calendar year 2010 was $144,000, which is below the statewide median price of $157,500 but above the national median price of $130,000. During calendar year 2009, there were 36 home sales recorded within the town limits; during calendar year 2010 there were 47 home sales recorded within the town limits indicating modest but steady growth over this period.