Market Overview
Home Prices in Luverne, MN
The median home value in Luverne, MN is $263,249 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5% compared to a year ago and up 4.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Luverne are priced36% below average.
Over the past five years, Luverne home values have risen by approximately34.7%, reflecting strong long-term appreciation in this market.
Price History
Luverne Home Price Trend
2020
$178,706
$179K
—
2021
$195,427
$195K
+9.4%
2022
$222,721
$223K
+14.0%
2023
$229,161
$229K
+2.9%
2024
$239,478
$239K
+4.5%
2025
$250,745
$251K
+4.7%
2026
$263,249
$263K
+5.0%
City Comparison
Luverne vs. National Median
🏠 Luverne
$263,249
National Median
$410,000
At $263,249, homes in Luverne cost 36% below the national median of $410,000. This makes Luverne a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Luverne?
20% Down Payment
$52,650
on $263,249
Monthly P&I
$1,373/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,744/mo
incl. taxes & insurance
Income Needed
$69,760
gross annual (30% rule)
10% Down Option
$26,325
+ PMI applies
Loan Amount (20% dn)
$210,599
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Luverne, MN?
The median home value in Luverne is $263,249 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5% year-over-year.
How much have home prices changed in Luverne?
Over the past year, home values in Luverne have increased by 5%. Over five years, prices have risen approximately 34.7%.
How much do I need to earn to buy a home in Luverne?
To comfortably afford the median home price of $263,249 with a 20% down payment ($52,650) at today's rates (6.8%), you'd need a gross annual income of approximately $69,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Luverne compare to the national average home price?
The national median home value is approximately $410,000. At $263,249, homes in Luverne are 36% below the national average.