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Wells, ME—04090

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$589,000
2.2% YoY Growth
Household Income
$83,900
24.7% YoY Growth
Days on Market
32
23.0% Shorter YoY
Home Price Forecast
0.7%
Median Rent
$2,500
5.0% YoY Growth
1-Bed Rent
$2,500
3.2% YoY Growth
2-Bed Rent
$2,500
2.4% YoY Growth
3-Bed Rent
$3,250
1.2% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Wells, ME

As of May '26, the median home price in Wells, ME is $589,000, with a year-over-year change of 2.2%. This indicates that home prices in Wells, ME are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$589,0002.2%
Single Family $670,0001.5%
Condos $365,0001.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $213,000
    -2.3%
    2 Bed
    		$412,0000.5%
    3 Bed
    		$664,0002.2%
    4 Bed
    		$839,0001.5%
    5 Bed $1,330,3100.6%
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    % of Housing Stock

    Studio
    5.3%
    1 Bedroom
    11.0%
    2 Bedrooms
    28.7%
    3 Bedrooms
    33.2%
    4 Bedrooms
    15.2%
    5+ Bedrooms
    6.6%

    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.

    TypeMedian RentAverage Rent
    Average Rent$2,500$2,670
    Studio Rent N/AN/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/AN/A
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    % of Rental Stock

    1 Bedroom
    18.3%
    2 Bedrooms
    42.0%
    3 Bedrooms
    36.4%
    5+ Bedrooms
    3.3%

    Property Listings — Wells, ME

    As of May '26, Realtor.com reports that the median days on market for a home in Wells, ME is 32. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$676,000-1.0%
    Listing Count
    		124-19.0%
    Listings as % of Homes0.6%-19.0%
    Days on Market
    		32-23.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		11,50012.8%
    % Under 18
    		17.0%4.9%
    % Seniors
    		29.4%13.1%
    % WFH
    		18.0%221.4%
    % w/ College Degree
    		37.8%-6.9%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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 BedroomN/AN/A$2,280

    Affordability — Wells, ME

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio6
    Median Home Price$589,000
    Median Household Income$83,900

    Wells, ME — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Ogunquit, ME

    03907

    Kennebunk, ME

    04043

    York, ME

    03902

    Sanford, ME

    04073

    South Berwick, ME

    03908

    Frequently Asked Questions