Zip 56097 (Wells, MN) Cost of Living


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United States / Minnesota / No Metro Area / Faribault County / Wells / Wells (zip 56097)

Wells cost of living score
71.8
Less expensive
28.2% lower
than the US average
26.1% lower
than the Minnesota average
Wells (zip 56097), Minnesota gets a BestPlaces Cost of Living score of 71.8, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 28.2% lower than the U.S. average and 26.1% higher than the average for Minnesota.

Zip 56097 (Wells, MN)

Housing costs in Wells?
A typical home costs $148,500, which is 56.1% less expensive than the national average of $338,100 and 52.0% less expensive than the average Minnesota home, at $309,500. Renting a two-bedroom unit in Wells costs $820 per month, which is 42.7% cheaper than the national average of $1,430 and 51.2% cheaper than the state average of $1,240.

Can I afford Wells?
To live comfortably in Wells (zip 56097), Minnesota, a minimum annual income of $28,440 for a family, and $26,000 for a single person is recommended.

What does A.I. say about Wells?
The cost of living in 56097 Wells, MN is relatively low compared to other cities. The median home price in the area is just over $100,000, which is significantly lower than the national average. Property taxes are also quite low, with homeowners paying around $1,700 annually. Groceries and healthcare costs are close to the national average, while utilities such as electricity and internet services tend to be less expensive. Overall, the cost of living in 56097 Wells, MN is quite affordable and makes it a great place to live for families on a budget.
   Cost of living score
     CategoriesWellsMinnesotaUnited States
  71.897.2100.0
  92.297.2100
  88.778.3100.0
  41.7102.9100.0
  $148,500$309,500$338,100
  97.7%95.7%100.0%
  68.796.4100.0
  69.4117.4100.0

   100=National Average

   Average Rent by Bedroom Size
Crime