Lebanon, Tennessee Housing Market Prices
Lebanon Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 35% above the Tennessee median$345,146
-
Median rent 2% above the Tennessee median$1,213
Housing Market Overview
| Metric | Lebanon | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $345,146 | $255,786 | $248,835 |
| Price Trend (Annual %) | 63.4% | 9.9% | 7.5% |
| Median Gross Rent | $1,213 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lebanon is about 35% higher than in Tennessee. Rent is about 2% higher than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lebanon, up about 63.4% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Lebanon rose about 53.8% between 2015 and 2024, from $789 to $1,213. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Lebanon.
Buying the median-priced home in Lebanon costs roughly 23.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lebanon. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Lebanon | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $345,146 | $255,786 | $248,835 |
| Median Household Income | $71,201 | $69,901 | $80,455 |
| Price-to-Income Ratio | 4.8 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lebanon rose about 159.1%, while median household income rose about 54.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lebanon | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.6% | 60.1% | 58.5% |
| Rental Rate | 34.9% | 29.7% | 31.2% |
| Vacancy Rate | 5.5% | 10.2% | 10.2% |
| Median Tenure (years) | 9.0 | 14.0 | 15.0 |
| Median Year Moved In | 2017 | 2012 | 2011 |
Lebanon has a homeownership rate of 59.6%, lower than the Tennessee average of 60.1%. Its housing vacancy rate is 5.5%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Lebanon | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1993 | 1986 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Lebanon was built around 1993. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 9.0 years on average.
Lebanon, TN Housing Compared With Nearby Cities
How Lebanon, TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lebanon, TN | 32,627 | $345,146 #2/2 | $1,213 #2/2 | 63.1% #2/2 |
| Mount Juliet, TN | 30,009 | $478,872 | $1,955 | 71.1% |
Frequently Asked Questions
Common questions about the housing market in Lebanon, Tennessee.
What is the median home price in Lebanon, Tennessee?
The median home price in Lebanon, Tennessee is $345,146, higher than the Tennessee average of $255,786.
What is the average home price in Lebanon, Tennessee?
The typical home price in Lebanon, Tennessee, reported as the median sale price, is $345,146. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lebanon, Tennessee?
The median gross rent in Lebanon, Tennessee is $1,213 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Lebanon in 2020?
In 2020, the median gross rent in Lebanon, Tennessee was $930 per month.
What is the price-to-rent ratio in Lebanon, Tennessee?
The price-to-rent ratio in Lebanon, Tennessee is about 23.7, meaning it would take roughly 23.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lebanon.
Are home prices or rent rising faster in Lebanon, Tennessee?
Both home prices and rent are rising in Lebanon, up about 63.4% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lebanon, Tennessee?
59.6% of households in Lebanon, Tennessee own their home, lower than the Tennessee average of 60.1%.
What is the vacancy rate in Lebanon, Tennessee?
The housing vacancy rate in Lebanon, Tennessee is 5.5%, lower than the Tennessee average of 10.2%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →