Wells County, Indiana: commercial real estate data.
Wells County, Indiana has a population of 28,420 across 368 square miles, up 2.2 percent since the 2020 census base. County output reached $1.58 bn in 2024, 658 establishments operate here, and the SBA record carries 31 7(a) approvals worth $6.8 m.
120 sourced county values · tier FULL · 11 sections
Wells County
How many people live in Wells County
- Population28,420
- Households11,546
- Average household size2.46
- Median household income$71,957
- Median age39.8
- Median gross rent$813 per month
- Median owner-occupied home value$197,600
- Home value to household income2.7 times
- Annual rent as a share of median income13.6 percent
- Adults 25 and over with a bachelor degree or higher19.9 percent
- Adults 25 and over with a graduate degree5.9 percent
- Adults 25 and over19,149
- Population under 187,014
- Share under 1824.7 percent
- Population 65 and over5,299
- Share 65 and over18.6 percent
- Working age population, 18 to 6416,107
- Civilian labor force14,772
- Unemployment rate2.6 percent
- Labor force participation, adults 18 and over69.0 percent
- Rank by population among Indiana counties56th of 92
- Rank by population among US county-equivalents1529th
Wells County is the 56th largest of 92 Indiana counties by population. A median home costs 2.7 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 24.7 percent against 18.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Wells County
Is Wells County growing
- Population change since the 2020 census base2.22 percent
- Census 2020 base population28,173
- Births, 2024342
- Deaths, 2024324
- Natural change, 202418
- Net domestic migration, 2024112
- Net international migration, 202431
- Total net migration, 2024143
- Cumulative net domestic migration, 2021 to 2024582
- Rank by growth among US county-equivalents1099th
The county has grown 2.22 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Wells County
Where people moving to Wells County come from
- Tax returns filed by households arriving725
- People arriving, from those returns1,297
- Adjusted gross income arriving$36.0 m
- Net adjusted gross income movement$0
- Average income of an arriving household$49,610
- Largest single originWells County Non-migrants (10,882 households)
- Largest single destination (10,882 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Wells County Non-migrants | 10,882 | 23,336 | $841.3 m |
| Allen County | 247 | 450 | $13.3 m |
| Other flows - Same State | 175 | 288 | $8.7 m |
| Other flows - Different State | 136 | 223 | $6.8 m |
| Adams County | 80 | 160 | $3.7 m |
| Other flows - South | 78 | 120 | $3.9 m |
| Huntington County | 67 | 141 | $3.0 m |
| Other flows - Midwest | 58 | 103 | $2.9 m |
The largest single source of arrivals is Wells County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Wells County
What the Wells County economy runs on
- County GDP, 2024$1.58 bn
- County GDP, 2023$1.54 bn
- GDP change, 2023 to 20242.1 percent
- GDP change over five years40.7 percent
- Rank by GDP among Indiana counties55th
- Rank by GDP among US county-equivalents1474th
- GDP per resident$55,494
Output grew 2.1 percent in the latest year and 40.7 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Wells County
Who employs people in Wells County
- Covered employment, annual average11,293
- Establishments reporting706
- Average annual pay$50,048
- Average weekly wage$962
- Sector 31-33, employment3,120
- Sector 31-33, average annual pay$56,789
- Sector 48-49, employment1,260
- Sector 48-49, average annual pay$56,281
- Sector 44-45, employment1,125
- Sector 44-45, average annual pay$30,934
- Sector 23, employment508
- Sector 23, average annual pay$65,184
- Sector 81, employment417
- Sector 54, employment232
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 3,120 | 61 | $56,789 |
| Sector 48-49 | 1,260 | 29 | $56,281 |
| Sector 44-45 | 1,125 | 86 | $30,934 |
| Sector 23 | 508 | 74 | $65,184 |
| Sector 81 | 417 | 60 | $47,734 |
| Sector 54 | 232 | 42 | $58,387 |
| Sector 11 | 188 | 29 | $44,243 |
| Sector 52 | 175 | 42 | $65,414 |
The largest sector is the biggest private employer group at 3,120 jobs, 27.6 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Wells County
What businesses operate in Wells County
- Establishments, all industries658
- Employment at those establishments10,361
- Annual payroll$516.6 m
- Establishments per 1,000 residents23.2
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Wells County
What is being built in Wells County
- Housing units authorised by permit, 202473
- Declared construction value permitted$22.1 m
- Single family units authorised52
- Multifamily units authorised21
- Multifamily share of units28.8 percent
- Average declared value per unit$302,381
- Units authorised per 1,000 households6.3
Multifamily is 28.8 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Wells County
How much SBA lending happens in Wells County
- 7(a) approvals recorded31
- 7(a) gross approval dollars$6.8 m
- Average 7(a) approval$218,677
- Median 7(a) approval$89,000
- 10th percentile approval$24,400
- 90th percentile approval$436,400
- Largest single approval$1,620,000
- Jobs reported supported, 7(a)161
- Jobs per approval5.2
- Distinct 7(a) lenders active10
- Distinct industries receiving approvals23
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer22.6 percent
- Loans on real estate terms7
- Loans on working capital terms, 120 months or shorter22
- Franchise loans3
- Franchise share of approvals9.7 percent
- Leading industry by approval countAll Other Miscellaneous Fabricated Metal Product Manufacturing (4)
- Most active lenderFirst Merchants Bank (10)
- 504 approvals recorded4
- 504 gross approval dollars$958,000
- Average 504 approval$239,500
- Median 504 approval$315,000
- Distinct CDCs active3
- 504 jobs per approval21.5
- 504 jobs per million dollars approved89.8
- Most active CDCCommunity Development Corporation of Fort Wayne (2)
- 7(a) share of SBA approvals88.6 percent
- Combined SBA approval dollars$7.7 m
The average approval of $218,677 sits well above the median of $89,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 22.6 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Wells County
Do SBA loans in Wells County get paid back
- Loans with a final outcome recorded14
- Paid in full14
- Charged off0
- Charge off rate on resolved loans0.0 percent
- Status: Paid in full14
- Status: Exempt from disclosure13
- Status: Cancelled4
Of the 14 loans that have reached a final outcome, 0.0 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Wells County
Which parts of Wells County get the lending
- Places in the county with recorded lending5
- BLUFFTON, approvals14
- OSSIAN, approvals10
- MARKLE, approvals5
- BERNE, approvals1
- Uniondale, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| BLUFFTON | 14 | $3,529,100 |
| OSSIAN | 10 | $2,199,100 |
| MARKLE | 5 | $590,000 |
| BERNE | 1 | $24,400 |
| Uniondale | 1 | $436,400 |
BLUFFTON accounts for 14 approvals against 10 in OSSIAN. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Wells County
How big is Wells County
- Land area368 sq mi
- Rank by land area among Indiana counties65th of 92
- Width, east to west19.9 mi
- Height, north to south24.2 mi
- Geographies sharing a boundary6
- Residents per square mile of land77
- Establishments per square mile1.79
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Wells County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Wells County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population28,420
- Households11,546
- Average household size2.46
- Median household income$71,957
- Median age39.8
Common questions
Wells County questions, answered from the record.
How many people live in Wells County, Indiana?
28,420, in 11,546 households, ranking 56th of 92 Indiana counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Wells County growing?
The population has grown 2.22 percent since the 2020 census base. In 2024 there were 342 births against 324 deaths, with net migration of 143. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Wells County?
$71,957. The median owner-occupied home is valued at $197,600, which is 2.7 times income, and median gross rent is $813 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Wells County?
658 establishments, employing 10,361 people with an annual payroll of $516.6 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Wells County?
Average annual pay is $50,048, or $962 a week, across 11,293 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Wells County?
31 7(a) approvals totalling $6.8 m since FY2020, across 10 lenders, with a median approval of $89,000, plus 4 504 approvals worth $958,000. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Wells County get paid back?
Of the 14 loans that have reached a final outcome, 14 were paid in full and 0 charged off, a charge off rate of 0.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Wells County?
73 housing units were authorised by permit in 2024, with a declared construction value of $22.1 m. Multifamily was 28.8 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Wells County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Wells County come from?
The largest single origin is Wells County Non-migrants, with 10,882 households. Arriving households report an average income of $49,610 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Wells County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Wells County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.