Wallaceton is a borough in Clearfield County, Pennsylvania, United States. The population was 313 at the 2010 census.Wallaceton is located in eastern Clearfield County at 40°57′36″N 78°17′20″W / 40.96000°N 78.28889°W / 40.96000; -78.28889. U.S. Route 322 passes through the southwest corner of the borough and leads northwest 11 miles to Clearfield, the county seat, and southeast 6 miles to Philipsburg.According to the United States Census Bureau, Wallaceton has a total area of 0.77 square miles, all of it land.As of the census of 2000, there were 350 people, 131 households, and 96 families residing in the borough. The population density was 500.1 people per square mile. There were 134 housing units at an average density of 191.5 per square mile. The racial makeup of the borough was 98.86% White, 0.29% African American, 0.29% Native American, and 0.57% from two or more races.There were 131 households, out of which 34.4% had children under the age of 18 living with them, 62.