According to the 1880 US Federal Census, Wallace lived with his parents on a farm in Nunda Township, McHenry County, Illinois, and worked as a farm laborer. His father is listed as a gardener and his mother as "keeping house". Wallace is listed as being born in Illinois while his parents are listed as born in New York. No other siblings are recorded as living with the family. According to the 1910 census, Wattles was married to Abbie Walters, 47. They had three children: Florence Walters, 22, Russell H. Walters, 27, and Agnes Walters, 16. It also shows that at the time Wallace's mother Mary A. Walters was living with the family at the age of 79.