Loretto, MN vs Wells, MN

The cost of living difference between Loretto, MN and Wells, MN is dramatic. Wells is 47.6% cheaper than Loretto, a gap that translates to thousands of dollars per year in household expenses. Loretto has a cost index of 92 while Wells sits at 62, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Loretto is $888/month compared to $699/month in Wells — a 27% difference. Home values follow the same pattern: Wells is more affordable at $93,200 median vs $350,600.

Median household income in Loretto is $110,833 compared to $58,663 in Wells (+88.9%). While Loretto is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Loretto spend roughly 9.6% of their income on rent, less than the 14.3% in Wells.

Climate-wise, both cities share similar average temperatures (45.8°F vs 45.6°F). Wells receives more rainfall at 36.3" per year compared to 30.7" in Loretto.