Luverne, MN


Highest Appreciating Luverne Neighborhoods Since 2000

Luverne, MN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Luverne Housing Market Information

With a population of 4,677, 2,079 total housing units (homes and apartments), and a median house value of $157,023, Luverne real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Luverne, accounting for 68.96% of the city's housing units. Other types of housing that are prevalent in Luverne include large apartment complexes or high rise apartments ( 16.12%), duplexes, homes converted to apartments or other small apartment buildings ( 7.18%), and a few row houses and other attached homes ( 5.33%).

The most prevalent building size and type in Luverne are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.81% owning and 36.19% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Luverne's housing was primarily built during this period, from the '40s through the '60s. A full 40.11% of the city's housing hails from this era. Other housing ages represented in Luverne include homes built between 1970-1999 ( 26.55%) and housing constructed before 1939 ( 25.80%). There's also some housing in Luverne built between 2000 and later ( 7.53%).

Luverne Home Appreciation Rates

In the last 10 years, Luverne has experienced some of the highest home appreciation rates of any community in the nation. Luverne real estate appreciated 17.36% over the last ten years, which is an average annual home appreciation rate of 1.61%, putting Luverne in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Luverne definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Luverne appreciation rates have trailed the rest of the nation. In the last twelve months, Luverne's appreciation rate has been 2.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Luverne were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Luverne's latest annual appreciation rate is lower than 80% of the other cities and towns in Minnesota.

Average Home Values


Median Home Value:


Value Range
> $1,099,000 0.2
$824,001 - $1,099,000 0.1
$550,001 - $824,000 0.3
$439,001 - $550,000 1.4
$329,001 - $439,000 3.7
$220,001 - $329,000 14.6
$110,001 - $220,000 45.5
$55,001 - $110,000 24.8
$0 - $55,000 9.4

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
47.0116020157037 62.4229979466119

Number Of Homes And Apartments:

Luverne Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
53.63% 2.52% 8 7
* 10 is highest

Rent & Ownership


Average Market Rent:
$845 / per month

Homeownership Rate

Owners 63.81
Renters 36.19
Vacant 8.45

Housing Market Details


Age of Homes

2000 or Newer 7.5
1970 - 1999 26.6
1940 - 1969 40.1
1939 or Older 25.8

Types of Homes

Single-Family 69.0
Townhomes 5.3
Small Apt. Buildings 7.2
Apt. Complexes 16.1
Mobile Homes 2.4
Other 0.0

Home Size

No Bedroom 0.48
1 Bedroom 11.01
2 Bedrooms 28.23
3 Bedrooms 36.24
4 Bedrooms 19.11
5 or more bedrooms 4.93

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Zip Codes in Luverne, MN