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Lucan

Learn about the people, housing, costs and businesses in Lucan, Minnesota

Median Home$149,000
Median Rent$657/month
Population221
Leading IndustriesManufacturing · Professional Services · Education3% manufacturing
Home Value Growth⬆⬆⬆+46.1% over 2 years
Young Adults32% of residentsabove average nationally
Homeowners78% of occupied units
NotableAffordable Market$149k median home · lower cost than 75% of the country
Lucan
MN

Frequently Asked Questions

What are today's mortgage rates in Lucan?

As of today, the 30-year fixed mortgage rate for Lucan is approximately 6.906% (6.942% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lucan?

The median home value in Lucan is $149k. The median monthly rent is $657. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lucan?

Home values in Lucan have increased 46.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lucan?

Based on a typical all-in ownership cost of $740/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $32k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lucan is $68k/year.

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What industries drive the economy in Lucan?

The largest employment sectors in Lucan are public administration (24%) and retail (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.