Housing costs in Luverne?
A typical home costs
$217,000, which is 35.8% less expensive than the national average of
$338,100 and 29.9% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Luverne costs
$870 per month, which is 39.2% cheaper than the national average of
$1,430 and 42.5% cheaper than the state average of
$1,240.
Can I afford Luverne?
To live comfortably in Luverne (zip 56156), Minnesota, a minimum annual income of
$41,400 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Luverne?
Cost of living in Luverne, MN (56156) is quite affordable. The overall cost of living index is 13% lower than the national average, with housing being 17% lower than the national average. This makes it a great place to live for anyone on a budget or who just wants to save some money. Groceries and goods are also relatively inexpensive in comparison to other cities across the US. Additionally, the median home price in Luverne is $83,700 which is significantly lower than the US median home price of $231,200. All together these factors make 56156 Luverne, MN a great place for anyone looking to save money on their everyday expenses.