Wells, ME—04090
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wells, ME
As of Oct '25, the median home price in Wells, ME is $542,000, with a year-over-year change of 4.6%. This indicates that home prices in Wells, ME are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $542,000 | 4.6% |
| Single Family | $617,000 | 4.0% |
| Condos | $360,000 | 1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $210,000 | -4.5% |
2 Bed | $405,000 | 1.5% |
3 Bed | $645,000 | 4.0% |
4 Bed | $809,000 | 3.2% |
| 5 Bed | $1,320,000 | -0.8% |
% of Housing Stock
Rental Trends — Wells, ME
As of July '25, Rentcast reports the average rent in Wells, ME is $2,670, with a year-over-year rent change of -5.0%. Per bedroom, the median rent as of July '25 in Wells, ME is 1-bedrooms: $2,270, 2-bedrooms: $2,480, 3-bedrooms: $3,200. The most common rental property sizes in Wells, ME are 2-bedroom and 3-bedroom, accounting for 42.0% and 36.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,670 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,500 | $2,270 |
| 2 Bed Rent | $2,500 | $2,480 |
| 3 Bed Rent | $3,250 | $3,200 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Wells, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Wells, ME is 93. This is a increase of 46.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $673,000 | 2.0% |
Listing Count | 137 | 16.0% |
| Listings as % of Homes | 0.6% | 16.0% |
Days on Market | 93 | 46.0% |
Demographics — Wells, ME
As of the latest ACS Survey released in 2023, Wells, ME has a population of 11,500, which has increased by 12.8% over the past 5 years. Wells, ME is a moderately popular place for families, as children make up 17.0% of the population. The area has a moderately educated workforce, with 37.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,500 | 12.8% |
% Under 18 | 17.0% | 4.9% |
% Seniors | 29.4% | 13.1% |
% WFH | 18.0% | 221.4% |
% w/ College Degree | 37.8% | -6.9% |
As of the latest ACS Survey released in 2023, Wells, ME is a predominantly white area, with 89.5% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Wells, ME is black, making up 2.9% of the population. Foreign-born residents account for 5.1% of the population in Wells, ME, and this percentage has increased by 2.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.5% | -4.9% |
% Black | 2.9% | 262.5% |
% Hispanic | 0.9% | -71.0% |
% Asian | 1.4% | 7.7% |
% Foreign Born | 5.1% | 2.0% |
Mortgage and Risk — Wells, ME
According to HUD data as of 2023, there were 400 mortgage originations in Wells, ME, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Wells, ME. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 400 |
% Conventional Loans | 92.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 21.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Wells, ME
Wells, ME lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 28 |
Total Units Section 8 | 28 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$1,230 | $2,500 | $1,270 |
| 2 Bedroom | -$930 | $2,500 | $1,570 |
| 3 Bedroom | -$1,180 | $3,250 | $2,070 |
| 4 Bedroom | N/A | N/A | $2,280 |
Affordability — Wells, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $542,000 |
| Median Household Income | $83,900 |