Market Overview
Home Prices in Wellman, IA
The median home value in Wellman, IA is $252,817 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.5% compared to a year ago and up 2.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Wellman are priced38% below average. Wellman is part of the Iowa City, IA metro area.
Over the past five years, Wellman home values have risen by approximately35.4%, reflecting strong long-term appreciation in this market.
Price History
Wellman Home Price Trend
City Comparison
Wellman vs. National Median
At $252,817, homes in Wellman cost 38% below the national median of $410,000. This makes Wellman a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Wellman?
20% Down Payment
$50,563
on $252,817
Monthly P&I
$1,319/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,675/mo
incl. taxes & insurance
Income Needed
$67,000
gross annual (30% rule)
10% Down Option
$25,282
+ PMI applies
Loan Amount (20% dn)
$202,254
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Wellman, IA?
The median home value in Wellman is $252,817 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.5% year-over-year.
How much have home prices changed in Wellman?
Over the past year, home values in Wellman have increased by 8.5%. Over five years, prices have risen approximately 35.4%.
How much do I need to earn to buy a home in Wellman?
To comfortably afford the median home price of $252,817 with a 20% down payment ($50,563) at today's rates (6.8%), you'd need a gross annual income of approximately $67,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Wellman compare to the national average home price?
The national median home value is approximately $410,000. At $252,817, homes in Wellman are 38% below the national average.
What metro area is Wellman part of?
Wellman is part of the Iowa City, IA metropolitan area. Home prices and market conditions can vary across the broader metro region.