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These days, finding an affordable place to live in the Lebanon area can be challenging. Home prices in Lebanon are now at a median cost of $94,263, lower than the Alabama average of $228,911.
The average cost of rent is $683/mo in Lebanon, primarily driven by the current value of real estate in the Lebanon area. In Lebanon, 21.57% of households rent, and 85.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lebanon is $3,197 per month. Households that rent pay about 21.35% of their income on rent here. Lebanon’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
- Milton, IL: higher priced homes
- McKinney, AR: equally priced homes
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- Milford Center, NY: higher priced homes
- Mill River, MA: higher priced homes
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