Total monthly cost of ownership
Cost to Own a Home in Wells, Nevada
A $214,000 home here costs
$1,576per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,100. The real number is $476 higher every month — 43% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Wells against Elko County and Nevada
| Measure | Wells | Elko County |
|---|---|---|
| Median home value | $213,500 | $282,400 |
| Median property tax | $835 | $1,434 |
| Effective tax rate | 0.391% | 0.508% |
| Median gross rent | $977 | $1,126 |
| Population | 1,184 | 53,852 |
The weather behind that power bill
Wells sits in Elko County, which averages a high of 88.2°F in its hottest month and a low of 10.0°F in its coldest, with 12.35" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 155 cooling and 7,832 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Elko County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Elko County
Common questions
How much does it cost to own a home in Wells?
A $214,000 home in Wells, Nevada costs approximately $1,576 per month with 20% down at 6.66%. That is $1,100 principal and interest, $70 property tax, $37 homeowners insurance, $190 utilities and $178 set aside for maintenance.
What is the property tax rate in Wells?
Wells has an effective property tax rate of 0.391%, based on a median home value of $213,500 and median real estate taxes of $835. That is lower than the Elko County average of 0.508%.
What is the average home price in Wells?
The median owner-occupied home value in Wells, Nevada is $213,500, against $282,400 across Elko County.
Is it cheaper to rent or buy in Wells?
Median gross rent in Wells is $977 a month, against $1,576 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wells — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Nevada.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.