Living in Wells, New York
Cost of living, income, home prices, rent and demographics of Wells · Census data 2020–2024
Wells has 581 residents with a median age of 59.3. The median household income is $87,946 (about the same as the New York median), the median home value is $272,900.
Wells is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Wells at a glance
- Population
- 581
- Median age
- 59.3State: 39.8
- Median household income
- $87,946State: $85,974
- Median home value
- $272,900State: $423,800
- Homeowners
- 95.5%
- Bachelor's degree or higher
- 23%
- Average commute
- 41 min
Is Wells a good place to live?
Pros: Median household income about the same as the New York median; home values 36% lower than the state median; a poverty rate of 5.3%.
Cons: An average commute of 41 minutes; unemployment of 8.6%.
The weather is best in June to September.
Cost of living in Wells
Housing is the biggest part of the cost of living. In Wells the median home value is $272,900, 18% lower than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $1,794 a month in housing costs.
Wells median household income
The median household income in Wells is $87,946 and the income per person is $40,913. 5.3% of residents live below the poverty line (New York: 14%).
Housing in Wells: homes for sale and rent
- Housing units
- 544
- Owner-occupied
- 95.5%
- Renter-occupied
- 4.5%
- Vacant
- 59%Includes seasonal homes
- Median year built
- 1972
- Average household size
- 2.43
59% of homes are vacant most of the year, a sign that Wells has many vacation and second homes.
Wells demographics
- Population
- 581
- Median age
- 59.3
- Under 18
- 15.3%
- 65 and older
- 27.7%
- Households
- 223
- Foreign-born
- 0.7%
- Veterans
- 3.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Wells ›
Education in Wells
23% of adults 25 and older in Wells have a bachelor's degree or higher (New York: 40.2%), and 12% have a graduate or professional degree.
Jobs and commute in Wells
- Unemployment rate
- 8.6%State: 6.4%
- Average commute
- 41 minState: 33 min
- Work from home
- 4%
- Drive alone
- 94.5%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 99.6%
Wells vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Wells | 581 | $87,946 | $272,900 | — |
| Speculator | 409 | $63,864 | $250,000 | $1,042 |
| Northville | 1,038 | $78,235 | $207,100 | $887 |
| Caroga Lake | 448 | $55,200 | $124,700 | — |
| Mayfield | 1,099 | $70,208 | $189,400 | $1,080 |
| Lake Luzerne | 907 | $29,167 | $229,600 | $2,833 |
| Hadley | 1,170 | $65,875 | $181,400 | $990 |
| Gloversville | 14,962 | $51,556 | $106,400 | $903 |
| Broadalbin | 1,819 | $107,557 | $164,300 | $992 |
More for people moving to Wells
Wells ZIP code ›Weather and climate ›Living in Wells: FAQ
What is the median household income in Wells, NY?
The median household income in Wells is $87,946, about the same as the New York median of $85,974 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Wells?
The median home value in Wells is $272,900, compared with $423,800 in New York.
Is Wells, NY a good place to live?
Pluses: median household income about the same as the New York median; home values 36% lower than the state median; a poverty rate of 5.3%. Minuses: an average commute of 41 minutes; unemployment of 8.6%.
What is the median age in Wells?
The median age in Wells is 59.3 years (New York: 39.8).
How long is the commute in Wells?
The average commute to work in Wells is 41 minutes; 4% of workers work from home.
What is the unemployment rate in Wells?
The unemployment rate in Wells is 8.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Wells?
23% of adults in Wells have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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