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These days, finding an affordable place to live in the Luverne area can be challenging. Home prices in Luverne are now at a median cost of $210,565, lower than the Minnesota average of $345,793.
The average cost of rent is $872/mo in Luverne, primarily driven by the current value of real estate in the Luverne area. In Luverne, 27.45% of households rent, and 42.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Luverne is $6,285 per month. Households that rent pay about 13.87% of their income on rent here. Luverne’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Magnolia, MN: higher priced homes
- Beaver Creek, MN: higher priced homes
- Kanaranzi, MN: higher priced homes
- Hardwick, MN: equally priced homes
- Steen, MN: higher priced homes
- Kenneth, MN: less expensive homes
- Hills, MN: equally priced homes
- Adrian, MN: less expensive homes
- Ellsworth, MN: less expensive homes
- Valley Springs, SD: higher priced homes
Cities with Similar Populations
- Carneys Point, NJ: equally priced homes
- Clare, MI: less expensive homes
- Clairton, PA: less expensive homes
- Chocowinity, NC: equally priced homes
- Chester, MD: higher priced homes
- Cherry Valley, IL: equally priced homes
- Centerburg, OH: higher priced homes
- Cave Springs, AR: higher priced homes
- Carthage, NY: less expensive homes
- Carrizo Springs, TX: less expensive homes
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