The typical owner-occupied home in Wells is worth about $194,000, 39% below the Vermont median of $316,600 and 42% below the national median of $332,700. Owners pay a median $2,972 a year in property taxes, about 1.53% of their home's value, close to the Vermont rate of 1.59%. The median household earns $74,375 a year, so the median home costs 2.6 times the median income (3.9 times for Vermont). 94% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Wells at a glance
| Wells | Vermont | U.S. | |
|---|---|---|---|
| Median home value | $194,000 | $316,600 | $332,700 |
| Median property tax paid per year | $2,972 | $5,039 | $3,119 |
| Property tax as a share of value | 1.53% | 1.59% | 0.94% |
| Median household income | $74,375 | $81,203 | $80,734 |
| Homes lived in by their owners | 94% | 73% | 65% |
| Owner homes with a mortgage | 46% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,417 | $1,907 | $1,963 |
| Those costs as a share of the owners' income | 16.1% | 21.7% | 21.0% |
| Median rent | – | $1,234 | $1,413 |
| Median year homes were built | 1973 | 1976 | 1980 |
| Vacant homes | 44.8% | 19.4% | 10.1% |
| Population | 308 | 647,106 | 334,922,499 |
What a typical home costs per month in Wells
At this week's average 30-year rate of 7.11%, buying the median Wells home of $194,000 with 20% down costs about $1,372 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,695, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $58,809 for the 20%-down payment. That payment is 22% of the median Wells household income of $74,375; at that income and 20% down, the 28% guideline points to a home of about $245,000.
| Down payment | $38,800 |
|---|---|
| Loan amount | $155,200 |
| Principal and interest | $1,044 |
| Property taxes (1.53% a year) | $247 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| PMI | $0 |
| Total per month | $1,372 |
Change the numbers in the calculator
| Down payment | $6,790 |
|---|---|
| Loan amount | $190,486 |
| Principal and interest | $1,281 |
| Property taxes (1.53% a year) | $247 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| FHA mortgage insurance | $86 |
| Total per month | $1,695 |
Change the numbers in the calculator
Questions about home buying in Wells
What is the median home value in Wells?
About $194,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wells?
Homeowners pay a median $2,972 a year, which is about 1.53% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Wells?
For the median home with 20% down at 7.11%, the payment is about $1,372 a month. Keeping that under 28% of gross income takes about $58,809 a year.
More about Wells
- Mortgage Refinance in Wells
- Debt Relief in Wells
- Home Equity Loans in Wells
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data