The Most Affordable Neighborhoods in Lebanon, TN by Home Value

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 $377,254, higher than the Tennessee average of $315,131.

The average cost of rent is $1,350/mo in Lebanon, primarily driven by the current value of real estate in the Lebanon area. In Lebanon, 28.16% of households rent, and 35.62% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Lebanon is $7,342 per month. Households that rent pay about 18.39% of their income on rent here. Lebanon’s most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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