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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 26,473 people, 10,594 houses or apartments, and a median cost of homes of $181,194, 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%).
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 96.79%, which ranks in the top 40% nationwide. This equates to an annual average Lebanon house appreciation rate of 7.00%.
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 23.98%, which is higher than appreciation rates in 97.78% 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 13.04%, which equates to an annual appreciation rate of 63.28%.
Importantly, NeighborhoodScout’s exclusive research found that Lebanon's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Pennsylvania, our data show that Lebanon's latest annual appreciation rate is higher than 90% 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.
$181,194
for Pennsylvania
for nation
10,594
$1,597 / per month