Luverne, AL is a small but bustling town located in southeast Alabama. It has a number of local businesses that provide essential services to the community, such as grocery stores, gas stations, restaurants, banks, and doctors' offices. The cost of living is quite affordable in the area with a typical two bedroom rent at $730 compared to the US average of $1,430. Additionally, the Luverne Grocery Cost Index is 92 versus 100 in the US. This shows that groceries are even more affordable than other places. The economy of Luverne centers around manufacturing and agriculture as those industries employ many of the locals. There are also plenty of construction jobs and service industry jobs available due to the steady growth of the town. All these factors make it an attractive place for people who want to live in an affordable area with plenty of job opportunities.
Luverne has an unemployment rate of 3.0%. The US average is 6.0%.
Luverne has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 27.8%, which is lower than the US average of 33.5%.
Tax Rates for Luverne
- The Sales Tax Rate for Luverne is 10.0%. The US average is 7.3%.
- The Income Tax Rate for Luverne is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Luverne
- The average income of a Luverne resident is $20,747 a year. The US average is $28,555 a year.
- The Median household income of a Luverne resident is $49,148 a year. The US average is $69,021 a year.