Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Wells area can be challenging. Home prices in Wells are now at a median cost of $133,922, lower than the Michigan average of $196,062.
The average cost of rent is $715/mo in Wells, primarily driven by the current value of real estate in the Wells area. While nearly 45.09% of residents own their homes outright in Wells, 13.27% rent.
Housing affordability isn’t just about home prices, though. The average household income in Wells is $5,044 per month. Households that rent pay about 14.17% of their income on rent here. Wells's most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Escanaba, MI: less expensive homes
- Groos, MI: higher priced homes
- Gladstone, MI: equally priced homes
- Ford River, MI: equally priced homes
- Riverland, MI: equally priced homes
- Maywood, MI: higher priced homes
- Stonington, MI: higher priced homes
- Kipling, MI: equally priced homes
- Tesch, MI: equally priced homes
- Cornell, MI: higher priced homes
Cities with Similar Populations
- Spickard, MO: less expensive homes
- Homer, OK: higher priced homes
- Hometown, WV: higher priced homes
- House, MS: less expensive homes
- Howard, KS: less expensive homes
- Hyattsville, KY: equally priced homes
- Indianola, NE: equally priced homes
- Institute, WI: higher priced homes
- Ira, VA: less expensive homes
- Silvertop, TN: higher priced homes
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