Wells, MN (56097) is a small city located in the Faribault County with a population of just 613 people. The city is home to several companies such as Wells Family Pharmacy, Wells Country Market, and W R F Construction. The average 2 bedroom rental rate in Wells is $820 which is much lower than the national average of $1,430. The cost of groceries in Wells is also relatively low compared to the US, with an index of 92 versus 100 nationwide.
Wells (zip 56097) has an unemployment rate of 5.2%. The US average is 6.0%.
Wells (zip 56097) has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 21.7%, which is lower than the US average of 33.5%.
Tax Rates for Wells (zip 56097)
- The Sales Tax Rate for Wells (zip 56097) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Wells (zip 56097) is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Wells (zip 56097)
- The average income of a Wells (zip 56097) resident is $24,970 a year. The US average is $28,555 a year.
- The Median household income of a Wells (zip 56097) resident is $53,795 a year. The US average is $69,021 a year.