Cost of Living in Luverne, AL

With a cost of living index of 62, Luverne, AL is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 12% below the Alabama state average of 74. Luverne is a small community of 2,713 residents.

Housing costs are the biggest factor in Luverne's cost of living. The median monthly rent is $669 (49% below the US median of $1,319), and the median home value sits at $124,700 (59% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Luverne is $51,537, which is 31% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Luverne. The area sees an average annual temperature of 65.1°F, with summers averaging 79°F and winters around 50°F. Annual rainfall totals 54.4 inches spread over roughly 112 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.