Quick facts: Luverne, AL

Quick Facts

93
Cost of Living
below US average
2,685
Population
48.04
Crime Rate per 1000
above US average
$52,264
Median Income
below US average
$194,900
Median House Price
above US average
$640.0
Average Rent
below US average
16%
Poverty Rate
above US average
2.9%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $52,264.

🏠

Income Needed to Buy

βœ— Stretch
$61k/year
Based on $194,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $61k vs median $52,264
🏒

Income Needed to Rent

βœ“ Affordable
$27k/year
Based on $640.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($52,264) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Luverne, AL

Luverne is a charming city located in Crenshaw County, Alabama. Known for its rich history and Southern hospitality, it serves as an interesting blend of small-town charm and modern conveniences. The city is situated about 45 miles southeast of Montgomery and approximately 25 miles northwest of Troy, making it easily accessible for visitors and residents alike. Luverne boasts a variety of local parks and recreational areas, providing ample opportunities for outdoor activities such as hiking and picnicking. The downtown area features a historic district with quaint shops and eateries, reflecting the community's warm and welcoming atmosphere. Additionally, Luverne is home to several annual events that celebrate its local culture, including the Luverne Peanut Butter Festival, which highlights the significance of peanut farming in the region. With strong ties to its agricultural roots, the city also supports local farmers and artisans. Overall, Luverne offers a peaceful lifestyle with a close-knit community, making it an appealing destination for those seeking to experience authentic Alabama living.

πŸ” Search & Compare Places

First Location πŸ“