Luverne cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexLuverneMinnesotaNational
Cost of living index90102100
IndexLuverneMinnesotaNational
Goods & Services index98106100
Groceries index94105100
Health care index107110100
Housing index67101100
Transportation index9698100
Utilities index11191100
An overview of the general cost of living index for Luverne, MN is displayed above for your reference. Residents in Luverne, MN enjoy a cost of living index of 90. This index is 13% lower than the Minnesota average, and 10% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Luverne, MN, the average cost of goods and services is 8% lower than it is in Minnesota, and it is 3% lower than the national average.

Did you know?

  • The cost of living in Luverne is 13% lower than the Minnesota average.
  • The cost of living in Luverne is 10% lower than the national average.
  • The cost of housing in Luverne is 33% lower than the national average.
  • Minnesota general sales tax is 35% higher than the national average.
  • Minnesota state income tax is 141% higher than the national average.

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Compare Luverne, MN Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Luverne, MN would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Luverne, MN, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Luverne, MN salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$50,449$4,204$1,177$1,514
Renters$21,000$1,750$490$630
One can approximate the cost of living and the housing affordability in Luverne, MN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Luverne, MN have a median income of $50,449. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,177 per month to avoid calamity and poverty. The renters in the city have an income of about $21,000, which would make their monthly maximum allowable rental costs $490.

Minnesota Sales Tax

StateGeneral Sales TaxWith Max Surtax
Minnesota6.875%7.875%

Minnesota Income Tax

StateIncome Tax (Low)Income Tax (High)
Minnesota5.35%9.85%
One thing to keep in mind when considering the cost of living in Luverne, MN is the Minnesota sales tax and Minnesota income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Minnesota sales tax rate is 6.875% and the maximum surtax that can be charged is 7.875%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Minnesota income tax rates range from 5.35% to 9.85%.

Goods & Services

ItemLuverneNational avg.Difference
Haircut $14.76$15.565.2%
Beauty Salon $28.76$36.1120.4%
Toothpaste $1.89$2.4723.7%
Shampoo $0.89$0.967.3%
Movie $9.98$10.131.4%
Bowling $4.09$4.7413.7%

Groceries

ItemLuverneNational avg.Difference
Ground Beef $3.74$3.986.1%
Fried Chicken $1.76$1.4124.9%
Milk $0.99$2.0651.9%
Potatoes $2.30$2.9822.7%
Pizza $9.01$9.474.9%
Beer $8.18$8.797.0%

Health Care

ItemLuverneNational avg.Difference
Optometrist $110.76$101.049.6%
Doctor $134.73$107.4425.4%
Dentist $88.90$90.421.7%
Ibuprofen $8.46$9.288.8%
Lipitor $442.41$426.503.7%

Housing

ItemLuverneNational avg.Difference
Home Price $114,800.00$175,700.0034.7%
Avg. Mortgage Payment $931.24$1,133.2317.8%
Apartment Rent $660.00$920.0028.3%

Transportation

ItemLuverneNational avg.Difference
Gasoline $1.96$1.991.4%
Tire Balancing $41.29$45.769.8%

Utilities

ItemLuverneNational avg.Difference
All Electricity$167.55$163.812.3%
Phone $35.00$28.3923.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Kenneth, MN6778-22%
Ellsworth, MN45379-21%
Leota, MN16180-20%
Hardwick, MN16680-20%
Magnolia, MN20380-20%
Luverne, MN4,68890-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Flemington, NJ4,68812323%
Lely Resort, FL4,68713232%
Vandercook Lake, MI4,69087-13%
Island Park, NY4,68615454%
Palacios, TX4,69176-24%
Luverne, MN4,68890-10%
Source: The Luverne, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.