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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lebanon, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lebanon, PA Housing Market Trends

With a population of 26,473, 10,594 total housing units (homes and apartments), and a median house value of $182,536, house prices in Lebanon are solidly below the national average.

Row houses and other attached homes are the single most common housing type in Lebanon, accounting for 34.00% of the city's housing units. Other types of housing that are prevalent in Lebanon include single-family detached homes ( 32.13%), duplexes, homes converted to apartments or other small apartment buildings ( 18.48%), and a few large apartment complexes or high rise apartments ( 15.32%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Lebanon primarily live in small (one, two or no bedroom) row houses and other attached homes. Lebanon has a mixture of owner-occupied and renter-occupied housing.

The housing in Lebanon was primarily built before 1939 ( 43.81%), making the housing stock in Lebanon some of the oldest overall in America, although there is a range of ages of homes in Lebanon. The next most important housing age is between 1940-1969 ( 37.35%), followed by between 1970-1999 ( 15.41%). There's also some housing in Lebanon built between 2000 and later ( 3.43%).

Lebanon Home Appreciation Rates

Appreciation rates for homes in Lebanon have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.23%, which ranks in the top 40% nationwide. This equates to an annual average Lebanon house appreciation rate of 6.97%.

Appreciation rates are so strong in Lebanon that despite a nationwide downturn in the housing market, Lebanon real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lebanon appreciation rates continue to be some of the highest in America, at 9.84%, which is higher than appreciation rates in 86.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lebanon. Lebanon appreciation rates in the latest quarter were at -0.57%, which equates to an annual appreciation rate of -2.28%.

Notably, Lebanon's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Pennsylvania, our data show that Lebanon's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lebanon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lebanon - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lebanon real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$182,536

Lebanon, PA Home Prices
> $1,573,000
$1,179,001 - $1,573,000
$786,001 - $1,179,000
$629,001 - $786,000
$472,001 - $629,000
$315,001 - $472,000
$157,001 - $315,000
$79,001 - $157,000
$0 - $79,000
0.0%
0.0%
0.8%
0.8%
0.2%
0.2%
0.4%
0.4%
0.4%
0.4%
10.9%
10.9%
55.6%
55.6%
27.4%
27.4%
4.2%
4.2%
0% 100.0%
% of Homes
Low

for Pennsylvania

Low

for nation

Number of Homes And Apartments:

10,594

Lebanon Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,637 / per month

Homeownership Rate

Owners
Renters
46.3%
46.3%
53.7%
53.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.1%
9.1%
90.9%
90.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.4%
3.4%
15.4%
15.4%
37.4%
37.4%
43.8%
43.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
32.1%
32.1%
34.0%
34.0%
18.5%
18.5%
15.3%
15.3%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.9%
4.9%
16.0%
16.0%
28.4%
28.4%
36.9%
36.9%
10.7%
10.7%
3.1%
3.1%
0% 100.0%
% of Homes