Wells County, North Dakota Housing Market Prices
Wells County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 15% below the North Dakota median$106,896
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Median rent 32% below the North Dakota median Cheaper than 75% of counties in North Dakota$647
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wells County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $106,896 | $125,877 | $248,835 |
| Price Trend (Annual %) | 10.7% | 0.5% | 7.5% |
| Median Gross Rent | $647 | $953 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 3.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wells County is about 15% lower than in North Dakota. Rent is about 32% lower than the North Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Wells County, up about 10.7% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Wells County rose about 46.2% between 2015 and 2024, from $443 to $647. Over the same span, rent in North Dakota rose about 34.4%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Wells County.
Buying the median-priced home in Wells County costs roughly 13.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Wells County. The price-to-rent ratio in North Dakota is about 11.0.
| Metric | Wells County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $106,896 | $125,877 | $248,835 |
| Median Household Income | $65,240 | $76,862 | $80,455 |
| Price-to-Income Ratio | 1.6 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wells County rose about 295.2%, while median household income rose about 61.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Wells County | North Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.3% | 55.2% | 58.5% |
| Rental Rate | 18.6% | 32.6% | 31.2% |
| Vacancy Rate | 19.1% | 12.3% | 10.2% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Wells County has a homeownership rate of 62.3%, higher than the North Dakota average of 55.2%. Its housing vacancy rate is 19.1%, compared with 12.3% in North Dakota.
Housing Stock
| Metric | Wells County | North Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.12 people | 2.29 people | 2.53 people |
| Median Structure Built Year | 1969 | 1984 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Wells County was built around 1969. On average, 2.1 people live in a home with about 6.0 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wells County, North Dakota.
What is the median home price in Wells County, North Dakota?
The median home price in Wells County, North Dakota is $106,896, lower than the North Dakota average of $125,877.
What is the average home price in Wells County, North Dakota?
The typical home price in Wells County, North Dakota, reported as the median sale price, is $106,896. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Wells County, North Dakota?
The median gross rent in Wells County, North Dakota is $647 per month, lower than the North Dakota average of $953.
What was the median gross rent in Wells County in 2020?
In 2020, the median gross rent in Wells County, North Dakota was $614 per month.
What is the price-to-rent ratio in Wells County, North Dakota?
The price-to-rent ratio in Wells County, North Dakota is about 13.8, meaning it would take roughly 13.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Wells County.
Are home prices or rent rising faster in Wells County, North Dakota?
Both home prices and rent are rising in Wells County, up about 10.7% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wells County, North Dakota?
62.3% of households in Wells County, North Dakota own their home, higher than the North Dakota average of 55.2%.
What is the vacancy rate in Wells County, North Dakota?
The housing vacancy rate in Wells County, North Dakota is 19.1%, higher than the North Dakota average of 12.3%.
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