Wells County, Indiana: commercial real estate data.
Wells County, Indiana had an estimated 28,798 residents on July 1, 2024, up 2.2 percent since the 2020 census base of 28,173, across 368 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Wells County
How many people live in Wells County
- Population, American Community Survey 2020-202428,420
- 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-equivalents, Puerto Rico included1529th of 3,222
Wells County is the 56th largest of 92 Indiana counties by population. A median home costs 2.7 times median household income, which is affordable 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's population growing?
- Population, July 1, 202428,798
- Census 2020 base population28,173
- Population change since the 2020 census base2.22 percent
- Population change, 2023 to 2024162
- 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 of 3,144
The county has grown 2.22 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Wells County
Where are people moving to Wells County from?
- Tax returns filed by households arriving725
- People arriving, from those returns1,297
- Tax returns filed by households leaving594
- Net household movement131
- Adjusted gross income arriving$36.0 m
- Net adjusted gross income movement$5.8 m
- Average income of an arriving household$49,610
- Average income of a leaving household$50,769
- Largest single originAllen County (247 households)
- Largest single destinationAllen County (181 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Allen County | 247 | 450 | $13.3 m |
| Adams County | 80 | 160 | $3.7 m |
| Huntington County | 67 | 141 | $3.0 m |
| Blackford County | 20 | 35 | $479,000 |
Households arriving report $1,159 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Allen County, 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 is the Wells County economy?
- 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 the Indiana areas BEA publishes55th of 92
- Rank by GDP among the US county areas BEA publishes1474th of 3,127
- 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
Employment by industry in Wells County
- Covered employment, annual average11,293
- Establishments reporting706
- Average annual pay$50,048
- Average weekly wage$962
- Manufacturing, employment3,120
- Manufacturing, average annual pay$56,789
- Transportation and warehousing, employment1,260
- Transportation and warehousing, average annual pay$56,281
- Retail trade, employment1,125
- Retail trade, average annual pay$30,934
- Construction, employment508
- Construction, average annual pay$65,184
- Other services, except public administration, employment417
- Professional, scientific and technical services, employment232
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 3,120 | 61 | $56,789 |
| Transportation and warehousing | 1,260 | 29 | $56,281 |
| Retail trade | 1,125 | 86 | $30,934 |
| Construction | 508 | 74 | $65,184 |
| Other services, except public administration | 417 | 60 | $47,734 |
| Professional, scientific and technical services | 232 | 42 | $58,387 |
| Agriculture, forestry, fishing and hunting | 188 | 29 | $44,243 |
| Finance and insurance | 175 | 42 | $65,414 |
Manufacturing is the largest private sector at 3,120 jobs, 27.6 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Wells County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Wells County
Building permits in Wells County
- Housing units authorized by permit, 202473
- Declared construction value permitted$22.1 m
- Single family units authorized52
- Multifamily units authorized21
- Multifamily share of units28.8 percent
- Average declared value per unit$302,381
- Units authorized per 1,000 households6.3
Single-family homes are 71.2 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Wells County
SBA loans in Wells County (7(a) and 504)
- 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$212,500
- Distinct CDCs active3
- 504 jobs per approval21.5
- 504 jobs per million dollars approved89.8
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$7.7 m
The average approval of $218,677 sits well above the median of $89,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here 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
SBA loan default and charge-off rates in Wells County
Do SBA loans in Wells County get paid back?
- Loans with a final outcome recorded14
- Paid in full14
- Charged off0
- Status: Paid in full14
- Status: Exempt from disclosure13
- Status: Cancelled4
Only 14 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Wells County
SBA lending by place in Wells County
- Borrower cities with recorded lending5
- Bluffton, approvals14
- Ossian, approvals10
- Markle, approvals5
- Uniondale, approvals1
- Berne, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Bluffton | 14 | $3,529,100 |
| Ossian | 10 | $2,199,100 |
| Markle | 5 | $590,000 |
| Uniondale | 1 | $436,400 |
| Berne | 1 | $24,400 |
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 large 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.
Wells County
Flood risk in Wells County
- Participation of the county's own NFIP community Wells County, unincorporated areasParticipating, community 180288
- Community Rating System class of the county's own communityClass 7
- Communities in the county in the NFIP Community Status Book8
- Of those, participating in the NFIP8
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class5
- Radon levels in Wells County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Wells County (community 180288), participates in the National Flood Insurance Program and carries Community Rating System class 7, a flood insurance premium discount for policies written there. The EPA places Wells County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-202428,420
- 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?
The Census Bureau estimates 28,798 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has grown 2.22 percent since the 2020 census base of 28,173, to 28,798 on July 1, 2024. 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 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 employment by industry in Wells County?
Manufacturing is the largest private sector at 3,120 jobs, 27.6 percent of covered employment. Covered employment averages 11,293 jobs at an average annual pay of $50,048, or $962 a week. 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 totaling $6.8 m since FY2020, across 10 lenders, with a median approval of $89,000, plus 4 504 approvals worth $958,000 since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Wells County?
73 housing units were authorized 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 Allen County, with 247 households. Arriving households report an average income of $49,610 against $50,769 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Wells County
Cities and places in Wells.
12 Census places lie wholly or partly in Wells County. All 12 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Bluffton | city | 10,529 | 14 | Wholly in this county |
| Ossian | town | 3,384 | 10 | Wholly in this county |
| Markle | town | 1,203 | 5 | 35.8 percent here, 64.2 percent Huntington County |
| Zanesville | town | 488 | None recorded | 65.0 percent here, 35.0 percent Allen County |
| Liberty Center | CDP | 389 | None recorded | Wholly in this county |
| Uniondale | town | 309 | 1 | Wholly in this county |
| Tocsin | CDP | 266 | None recorded | Wholly in this county |
| Poneto | town | 174 | None recorded | Wholly in this county |
| Craigville | CDP | 65 | None recorded | Wholly in this county |
| Keystone | CDP | 65 | None recorded | Wholly in this county |
| Vera Cruz | town | 62 | None recorded | Wholly in this county |
| Petroleum | CDP | 34 | None recorded | Wholly in this county |
A further 1 of the county's 31 SBA 7(a) approvals are to borrowers in cities that match no Census place in Wells County, the largest being Berne (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby