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Affordable
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These days, finding an affordable place to live in the Luther area can be challenging. Home prices in Luther are now at a median cost of $129,966, lower than the Michigan average of $250,415.
The average cost of rent is $1,034/mo in Luther, primarily driven by the current value of real estate in the Luther area. In Luther, 16.04% of households rent, and 62.94% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Luther is $4,712 per month. Households that rent pay about 21.94% of their income on rent here. Luther’s most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Nirvana, MI: equally priced homes
- Peacock, MI: higher priced homes
- Hoxeyville, MI: higher priced homes
- Chase, MI: higher priced homes
- Le Roy, MI: higher priced homes
- Idlewild, MI: equally priced homes
- Tustin, MI: higher priced homes
- Dighton, MI: higher priced homes
- Baldwin, MI: equally priced homes
- Reed City, MI: higher priced homes
Cities with Similar Populations
- Albion, CA: higher priced homes
- Antonito, CO: higher priced homes
- Sewickley Hills, PA: higher priced homes
- Quinter, KS: equally priced homes
- Randolph AFB, TX: higher priced homes
- Rileyville, VA: higher priced homes
- Riverside, WA: higher priced homes
- Robeline, LA: equally priced homes
- Rolling Hills, WY: higher priced homes
- Rosiclare, IL: less expensive homes
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