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Wellman

Learn about the people, housing, costs and businesses in Wellman, Iowa

Median Home$208,800
Median Rent$721/month
Population1,438
Leading IndustriesPublic Administration · Construction · Agriculture & Mining28% public administration
Home Value Growth+7.6% over 2 years
Retirees21% of residentsnear the national average
Homeowners80% of occupied units
NotableHighly Educated25% hold a bachelor's degree · top 18% nationally
Wellman
IA

Frequently Asked Questions

What are today's mortgage rates in Wellman?

As of today, the 30-year fixed mortgage rate for Wellman is approximately 7.026% (7.067% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Wellman?

The median home value in Wellman is $209k. The median monthly rent is $721. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Wellman?

Home values in Wellman have increased 7.6% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Wellman?

Based on a typical all-in ownership cost of $839/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $36k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Wellman is $73k/year.

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What industries drive the economy in Wellman?

The largest employment sectors in Wellman are public administration (28%) and healthcare (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.