Wells, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Wells, Minnesota had a total population of 2,296, the 245th largest city in Minnesota, with a median household income of $60,156, which is 32% lower than the state average. The poverty rate is 8.7%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 32% below the state average, indicating significant economic challenges.
- Housing is very affordable with a home-value-to-income ratio of just 1.7x.
Wells Quick Facts
How Wells Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 2,317 | 2,296 | -0.9% |
| Median household income | $58,663 | $60,156 | +2.5% |
| Median home value | $93,200 | $103,900 | +11.5% |
How Wells Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Wells Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Faribault County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Blue Earth | 3,165 | $66,771 | 10.8% | $143,600 |
| Winnebago | 1,280 | $59,643 | 11.1% | $110,900 |
| Kiester | 494 | $52,727 | 21.5% | $58,800 |
| Elmore | 451 | $41,250 | 24.4% | $46,700 |
| Bricelyn | 392 | $52,750 | 10.8% | $58,100 |
| Frost | 275 | $76,250 | 10.5% | $70,800 |
| Easton | 178 | $76,250 | 0.6% | $98,500 |
| Delavan | 160 | $63,125 | 17.7% | $57,700 |
| Walters | 57 | $38,125 | 33.3% | N/A |
Cities Similar to Wells
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Spring Valley | 2,307 | $66,339 | $160,800 | 18.1% | 9.3% |
| Olivia | 2,205 | $63,098 | $159,200 | 21.1% | 13.4% |
| Springfield | 2,125 | $59,434 | $122,300 | 26.6% | 11.8% |
| Staples | 2,269 | $52,071 | $130,000 | 22.2% | 15.9% |
| Slayton | 2,141 | $62,344 | $161,700 | 30.0% | 14.3% |
Population Overview
Wells is a small community located in Minnesota, within Faribault County. The total population is 2,296. It ranks as the 245th most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Wells is 46.3 years. This is 19% higher than the state median of 38.8 years. 12.7% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Wells is $60,156. This is 32% lower than the state median of $89,062. It is also 25% lower than the national median of $80,734. The poverty rate stands at 8.7%. This is 6% lower than the state poverty rate of 9.3%. The unemployment rate is 3.4%. This is 17% lower than the state rate of 4.1%. The median home value is $103,900. Housing costs are 68% lower than the state median of $329,300. With a home-value-to-income ratio of just 1.7x, Wells is one of the most affordable housing markets in the area. 76.1% of occupied housing units are owner-occupied. This homeownership rate is 5% higher than the state average of 72.2%.
Race & Ethnicity
Wells has a predominantly White (non-Hispanic) population, comprising 87.8% of all residents. Hispanic or Latino residents account for 5.6%. The Black or African American population (1.2%) is well below the state average of 7.0%. The Asian population (1.3%) is well below the state average of 5.1%.
Education
20.9% of residents aged 25 and older hold a bachelor's degree or higher. This is 47% lower than the state rate of 39.4%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 90.1%.
Data Sources & Methodology
All demographic data for Wells, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 914 Census-designated places in Minnesota. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Wells, Minnesota?
Wells, Minnesota has a population of 2,296 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Wells, MN?
The median household income in Wells is $60,156, which is 25% lower than the national median of $80,734.
What is the poverty rate in Wells, MN?
The poverty rate in Wells is 8.7%. This means approximately 196 residents live below the federal poverty line.
What is the racial makeup of Wells, Minnesota?
Wells's population is 87.8% White, 1.2% Black, 5.6% Hispanic/Latino, and 1.3% Asian.
What is the median home value in Wells, MN?
The median home value in Wells is $103,900. The home-value-to-income ratio is 1.7x.
How educated is Wells, Minnesota?
20.9% of adults (25+) in Wells hold a bachelor's degree or higher, and 4.6% hold a graduate or professional degree.