
Home Price Key
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 $283,298, lower than the Connecticut average of $357,181.
The average cost of rent is $1,390/mo in Lebanon, primarily driven by the current value of real estate in the Lebanon area. While nearly 28.55% of residents own their homes outright in Lebanon, 10.25% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lebanon is $8,362 per month. Households that rent pay about 16.62% of their income on rent here. Lebanon's most expensive areas are in the northwestern regions, while the cheapest areas are in the southwestern parts of the city.
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