Wallace Park ward lies in the northern part of Lisburn city. The area is primarily residential, characterised by streets of terraced and semi-detached housing. It is bordered by the Belfast Road to the east and the River Lagan to the north. The ward includes local shopping parades providing everyday services for residents. Its proximity to Lisburn city centre allows for easy access to larger retail and transport links.
The ward's namesake is the expansive Wallace Park, a central green space with mature trees, sports pitches, and walking paths. The park contains the Lisburn Cricket Club grounds, a longstanding local institution. This area is also home to the Wallace High School, a prominent secondary school. The topography is generally flat, extending towards the river meadows, with residential streets organised in a grid-like pattern around the park.