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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, TN 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, TN Housing Market Trends

With 44,166 people, 15,014 houses or apartments, and a median cost of homes of $424,238, Lebanon real estate is some of the most expensive in Tennessee, although Lebanon home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Lebanon, accounting for 61.18% of the city's housing units. Other types of housing that are prevalent in Lebanon include large apartment complexes or high rise apartments ( 19.07%), duplexes, homes converted to apartments or other small apartment buildings ( 11.35%), and a few row houses and other attached homes ( 5.63%).

The most prevalent building size and type in Lebanon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.92% owning and 43.08% renting.

Lebanon homes and real estate are some of the newest in America. 46.91% of Lebanon's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lebanon real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 29.49%), and between 1940-1969 ( 21.16%). There's also some housing in Lebanon built before 1939 ( 2.44%).

Lebanon Home Appreciation Rates

In the last 10 years, Lebanon has experienced some of the highest home appreciation rates of any community in the nation. Lebanon real estate appreciated 122.07% over the last ten years, which is an average annual home appreciation rate of 8.31%, putting Lebanon in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lebanon definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Lebanon appreciation rates have trailed the rest of the nation. In the last twelve months, Lebanon's appreciation rate has been 3.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lebanon were at 1.16%, which equates to an annual appreciation rate of 4.72%.

Relative to Tennessee, our data show that Lebanon's latest annual appreciation rate is lower than 90% of the other cities and towns in Tennessee.

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

$424,238

Lebanon, TN Home Prices
> $1,407,000
$1,055,001 - $1,407,000
$703,001 - $1,055,000
$563,001 - $703,000
$422,001 - $563,000
$281,001 - $422,000
$141,001 - $281,000
$70,001 - $141,000
$0 - $70,000
1.3%
1.3%
1.5%
1.5%
11.1%
11.1%
11.6%
11.6%
27.8%
27.8%
26.7%
26.7%
13.0%
13.0%
4.6%
4.6%
2.3%
2.3%
0% 100.0%
% of Homes
Very High

for Tennessee

High

for nation

Number of Homes And Apartments:

15,014

Lebanon Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,063 / per month

Homeownership Rate

Owners
Renters
56.9%
56.9%
43.1%
43.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.7%
4.7%
95.3%
95.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
46.9%
46.9%
29.5%
29.5%
21.2%
21.2%
2.4%
2.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
61.2%
61.2%
5.6%
5.6%
11.3%
11.3%
19.1%
19.1%
2.6%
2.6%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.2%
2.2%
7.8%
7.8%
27.9%
27.9%
44.1%
44.1%
15.5%
15.5%
2.5%
2.5%
0% 100.0%
% of Homes