Market Overview
Home Prices in Wells, MN
The median home value in Wells, MN is $142,332 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.2% compared to a year ago and up 5.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Wells are priced65% below average.
Over the past five years, Wells home values have risen by approximately48.4%, reflecting strong long-term appreciation in this market.
Price History
Wells Home Price Trend
2020
$80,099
$80K
—
2021
$95,908
$96K
+19.7%
2022
$116,286
$116K
+21.2%
2023
$130,110
$130K
+11.9%
2024
$132,318
$132K
+1.7%
2025
$139,291
$139K
+5.3%
2026
$142,332
$142K
+2.2%
City Comparison
Wells vs. National Median
🏠 Wells
$142,332
National Median
$410,000
At $142,332, homes in Wells cost 65% below the national median of $410,000. This makes Wells a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Wells?
20% Down Payment
$28,466
on $142,332
Monthly P&I
$742/mo
30-yr @ 6.8%
Total Monthly Est.
~$942/mo
incl. taxes & insurance
Income Needed
$37,680
gross annual (30% rule)
10% Down Option
$14,233
+ PMI applies
Loan Amount (20% dn)
$113,866
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 Wells, MN?
The median home value in Wells is $142,332 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.2% year-over-year.
How much have home prices changed in Wells?
Over the past year, home values in Wells have increased by 2.2%. Over five years, prices have risen approximately 48.4%.
How much do I need to earn to buy a home in Wells?
To comfortably afford the median home price of $142,332 with a 20% down payment ($28,466) at today's rates (6.8%), you'd need a gross annual income of approximately $37,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Wells compare to the national average home price?
The national median home value is approximately $410,000. At $142,332, homes in Wells are 65% below the national average.