Wells County, Indiana Housing Market
In Wells County, Indiana, the median home value is $197,600, with a median monthly rent of $813. This places Wells County at #1425 nationally out of 3134 counties by median home value, and #35 within Indiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,006
- Establishments: 677
- BLS QCEW, 2025
Housing Supply
- Single-family: 72
- Multi-family: 100
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 11,743 (avg $75,287)
- Outflow: 11,230 (avg $76,425)
- IRS Statistics of Income
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| Metric | Wells County | Indiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $197,600 | $191,898 | $227,706 |
| Median Gross Rent | $813 | $910 | $968 |
| Owner Occupancy Rate | 75.6% | 76.3% | 73.3% |
| Price/Rent Ratio | 20.3 | 17.5 | 18.7 |
Market Analysis
The median home value in Wells County is 3.0% above the Indiana state average and 13.2% below the U.S. national average. The median rent of $813/month is 10.7% below the state average.
With a price-to-rent ratio of 20.3, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Wells County has an owner-occupancy rate of 75.6%, compared to 76.3% in Indiana and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Woodford County | Illinois | $197,600 | $912 |
| Phillips County | Montana | $197,600 | $536 |
| St. Louis city | Missouri | $197,500 | $997 |
| Richland County | Wisconsin | $197,500 | $771 |
| Saline County | Nebraska | $197,400 | $914 |
Other Counties in Indiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Daviess County | $197,200 | $847 | 72.4% |
| Noble County | $196,800 | $832 | 77.1% |
| Decatur County | $199,100 | $861 | 76.1% |
| LaPorte County | $195,500 | $976 | 74.7% |
| Jefferson County | $194,600 | $890 | 71.8% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).