As of the census of 2000, there were 2,494 people, 1,032 households, and 665 families residing in the city. The population density was 1,846.5 people per square mile (713.3/km²). There were 1,097 housing units at an average density of 812.2/sq mi (313.7/km²). The racial makeup of the city was 96.31% White, 0.04% African American, 0.16% Native American, 0.68% Asian, 0.00% Pacific Islander, 2.17% from other races, and 0.64% from two or more races. 4.73% of the population were Hispanic or Latino of any race.
There were 1,032 households out of which 28.3% had children under the age of 18 living with them, 53.1% were married couples living together, 7.8% had a female householder with no husband present, and 35.5% were non-families. 32.2% of all households were made up of individuals and 19.7% had someone living alone who was 65 years of age or older. The average household size was 2.33 and the average family size was 2.94.
In the city the population was spread out with 23.3% under the age of 18, 7.3% from 18 to 24, 22.1% from 25 to 44, 21.3% from 45 to 64, and 26.0% who were 65 years of age or older. The median age was 43 years. For every 100 females there were 87.5 males. For every 100 females age 18 and over, there were 82.6 males.
The median income for a household in the city was $26,463, and the median income for a family was $38,523. Males had a median income of $27,969 versus $19,873 for females. The per capita income for the city was $15,614. 9.8% of the population and 5.9% of families were below the poverty line. 7.4% of those under the age of 18 and 15.1% of those 65 and older were living below the poverty line.
Wells, Minnesota is the home of the United South Central Rebels. The High School and Elementary Buildings are in Wells and about over 700 kids total attend the two schools. The grades in the Elementary are Kindergarten, 1st grade, 2nd grade, 3rd grade, 4th grade, 5th grade, and 6th grade. The High School grades are, 7th grade, 8th grade, 9th grade, 10th grade, 11th grade, and 12th grade. 5-8 were in Kiester, MN but at a school board meeting, they decided to move the Middle school to Wells and put 5th and 6th grades in the Elementary and 7th and 8th grades in the Hish school. So they got rid of the Middle School. Also the St. Casimir's School is in Wells as well, and about 180 kids attend there and that's K-8.
The town also has a grocery store; Wells Marketplace Foods. Restaurants; Dairy Queen, Jake's Pizza, Wildcats Bar and Grill. A Public Library. Banks; Wells Federal Bank, Paragon Bank, and People's State Bank. hair salons are; Shear Artistry, Ultimate Design Salon Day Spa and Taning. A theater which is the "Flame Theater." Wells has a Landromat; "Di's Wash and Dry." True Value Hardware, and USA Window Depot.
Wells is also the home of "Wells Kernels Days", held every year in late August. Wells also had their own, Fire Department, Community Ambulance Service, and Police Department.
The current mayor of Wells is David Jacobson.