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Luverne city, MN

ZIP 56156 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 56156

Median Home Value
$200,900
Median Rent
$526
Affordability Snapshot
$55,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,291/mo PITI).

8%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

31.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 56156 in Luverne city, MN, a household would need roughly $55,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,291. That sits below the local median household income ($75,234), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
74.9%+15% vs US avg
x
Vacancy Rate
5.3%-49% vs US avg
x
Broadband Access
88.8%+2% vs US avg
x
4+ Bedrooms
9.1%-39% vs US avg
x
Built Pre-1939
5.9%-54% vs US avg
x
Built Post-2014
0.7%-91% vs US avg
x
Rent Burden >30%
16.9%-66% vs US avg
x
Mortgage-Free
41.6%+9% vs US avg
x
$200,900
Home Value
$526
Rent
1960
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached78.3%
  • 1-unit attached3.3%
  • 2-9 units8.5%
  • 10+ units9.0%
  • Mobile home & other0.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$200,900
Median rent$526
Owner-occupied74.9%
Vacant5.3%
Price-to-income2.7x
Est. income to buy$55,000