Total monthly cost of ownership
Cost to Own a Home in Luverne, Alabama
A $125,000 home here costs
$1,084per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $643. The real number is $441 higher every month — 69% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Luverne against Crenshaw County and Alabama
| Measure | Luverne | Crenshaw County |
|---|---|---|
| Median home value | $124,700 | $108,400 |
| Median property tax | $397 | $347 |
| Effective tax rate | 0.318% | 0.320% |
| Median gross rent | $669 | $664 |
| Population | 2,713 | 13,144 |
The weather behind that power bill
Luverne sits in Crenshaw County, which averages a high of 88.9°F in its hottest month and a low of 38.8°F in its coldest, with 54.38" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,072 cooling and 2,014 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Crenshaw County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Crenshaw County
No other places of this size are published in Crenshaw County.
Full Crenshaw County cost breakdown · Every county in Alabama
Common questions
How much does it cost to own a home in Luverne?
A $125,000 home in Luverne, Alabama costs approximately $1,084 per month with 20% down at 6.66%. That is $643 principal and interest, $33 property tax, $85 homeowners insurance, $219 utilities and $104 set aside for maintenance.
What is the property tax rate in Luverne?
Luverne has an effective property tax rate of 0.318%, based on a median home value of $124,700 and median real estate taxes of $397. That is in line with the Crenshaw County average of 0.320%.
What is the average home price in Luverne?
The median owner-occupied home value in Luverne, Alabama is $124,700, against $108,400 across Crenshaw County.
Is it cheaper to rent or buy in Luverne?
Median gross rent in Luverne is $669 a month, against $1,084 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Luverne — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Alabama.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.