Wells, NY
Population 597 · New York
About Wells, NY
Wells is a small community located in New York with a population of 597 residents according to the latest US Census Bureau American Community Survey data. The median household income is $78,047 per year, which is 4% above the national median of $75,149. The median age of 54.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Wells features a median home value of $252,900, which is 3% above the national median of $244,900. This positions Wells in a moderately priced market relative to the rest of the country. Median monthly rent is $763, 34% below the national average of $1,163/month. Of the 518 total housing units, 89% are owner-occupied (170 units) and 11% are renter-occupied (21 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Wells shows an unemployment rate of 12.0%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 4.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Wells have an average one-way commute time of 37.3 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
17.3% of Wells residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 1.8% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.5% of the population being foreign-born.
Cost of Living in Wells, NY
Compared to national averages, Wells has a median household income of $78,047 (4% above the national median of $75,149). Home values average $252,900, which is 3% above the national median. Monthly rent at $763 is 34% below the US average of $1,163. Within New York, Wells's income is 20% below the state average of $96,987, and home values are 35% below the state median of $387,181.
Why Live in Wells, NY?
Wells offers a strong local economy with a median household income of $78,047, well above the national average, and rent that’s lower than the national average at $763/month, and a low poverty rate of 4.2%, better than the national average.
Wells has a population of 597 with a median age of 54.3 years. Compare Wells with other cities to see how it stacks up, or explore all cities in New York.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Wells
What is the population of Wells, NY?
The population of Wells, NY is 597 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New York.
What is the median household income in Wells?
The median household income in Wells, NY is $78,047 per year, which is 4% above the national median of $75,149.
What is the median home value in Wells?
The median home value in Wells, NY is $252,900, which is 3% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Wells?
The median monthly rent in Wells, NY is $763, which is 34% below the national average of $1,163/month.
What is the unemployment rate in Wells?
The unemployment rate in Wells, NY is 12.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Wells, NY a good place to live?
Wells offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 597 and a median age of 54.3, the city appeals to established professionals and retirees.
How educated is Wells, NY?
17.3% of residents in Wells aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Wells?
Key cost-of-living indicators for Wells, NY: median home value is $252,900 (3% above national), median rent is $763/month, and median household income is $78,047. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Wells?
The poverty rate in Wells, NY is 4.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Wells, NY?
Wells's population is 0.0% White, 1.8% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.5% of residents are foreign-born.