Best Places to Live in Minnesota | Wells, MN

Coldwell Banker^® Helps you Learn More About Wells, Minnesota Real Estate

Wells, Minnesota is located in Faribault County. Wells has a population of 2,365 and has shown -10.9% growth since 2000. Of the 999 households in Wells, 76.0% are owned, 14.0% are rented and 10% are not currently occupied. The median age of homes in Wells is 53 years and 51.0% of the homes have been occupied by the same residents for more than 5 years. Learn more about Wells, Minnesota real estate at coldwellbanker.com.

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Demographic Information for Wells, MN

Minnesota Demographics Data
POPULATION CHANGE 2000 TO CURRENT8.9%
TOTAL POPULATION5,355,230
POPULATION DENSITY PER SQUARE MILE64
AVERAGE HOUSEHOLD SIZE2.5

City Demographics Data
POPULATION CHANGE 2000 TO CURRENT-10.9%
TOTAL POPULATION2,365
POPULATION DENSITY PER SQUARE MILE1,193
AVERAGE HOUSEHOLD SIZE2.3

Minnesota Real Estate Statistics
AVERAGE AGE OF HOMES31
AVERAGE YEARS IN RESIDENCE4

City Real Estate Statistics
AVERAGE AGE OF HOMES53
AVERAGE YEARS IN RESIDENCE6

State Rank & Score for Wells, MN

CATEGORYScoreRank
Suburbanites783.39
Social Seekers293.71

This place does not rank in this category

About Rank & Score

Onboard Informatics system uses Ranks to determine the Top 10 National Markets list, Top 100 Places list and Top 50 Cities per State lists for editorial and both Scores and Ranks for display on coldwellbanker.com. These are generally defined as follows:

Each attribute for each place is assigned a value (number). In concept, scores and ranks are created by adding up the values for all attributes for a place that are relevant to the category and then ranking / sorting them. In practice, in order to assure that each attribute contributes to the rolled up category scores and ranks correctly, additional calculations are performed as follows:
Scores: Base scores are derived from the raw attribute data by normalizing to a 0 - 1000 point scale. This is required as the raw data displays uniformity of scale (one attributes may have values between 0 and 100, another between 57 and 34212, etc.). Once normalized, each attribute scores is multiplied by a weighting factor between 1 and 5. Weighting factors were assigned by Onboard and approved by Coldwell Banker based on relevance and importance of the attribute to the category. This results in a potential score between 0 and 5000 for a given attribute.

All attribute scores for a category are then summed to create a category score for each place. These raw category scores are then normalized again to a 0 - 1000 scale for display.

Ranks: Ranking is simply the ordering of places by their category score. Sort is in descending order such that the place with the largest category score receives a rank = 1. Unlike scores, ranks are calculated by national market (1-10), top city/ towns (1-100) and within each state (1-50) such that a top "x" list may be generated for the national story and more localized stories and web-pages. The ranking for the Top 10 National Markets list is filtered by core based statistical area (CBSA).

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Wells, MN Attributes

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Suburbanites
- Many car commuters
- Gas Affordability
- High percentage of home ownership
- High number of people who eat in
- Coffee shops
- Median disposable income
- Safety is a priority
- Good schools nearby
- Number of college graduates
- Home improvement is a priority
- Access to outdoor activities stores
- Outdoor activities
- Cultural activities
- Vacation Homes (owns)
- Many single family homes
- Leisure resources
- Leisure activities
- Entertainment events
- Many suburban amenities
- Many employment opportunities
Social Seekers
- Access to public transportation
- Frequent Restaurant goers
- Frequent Coffee Shop goers
- Many restaurant options
- Multi-cultural food options
- Median disposable income
- Safety
- High number of college grads
- Many nightlife options
- Lifestyle - Trendy focus
- Proximity to cultural activities, museums, music, wineries, etc.
- Urban Living
- Large variety of living options: rentals, condos, co-ops, etc.
- Many entertainment events
- Many employment opportunities

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Coldwell Banker® Helps you Learn More About Wells, Minnesota Real Estate

Coldwell Banker Offices in Wells, MN

Demographic Information for Wells, MN

Coldwell Banker^® Helps you Learn More About Wells, Minnesota Real Estate