Lebanon, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lebanon Neighborhoods Since 2000




Lebanon, PA Real Estate Data


Lebanon Housing Market Information

With a population of 25,534, 9,956 total housing units (homes and apartments), and a median house value of $95,224, house prices in Lebanon are some of the most affordable in Pennsylvania as well as the nation.

Row houses and other attached homes are the single most common housing type in Lebanon, accounting for 33.76% of the city's housing units. Other types of housing that are prevalent in Lebanon include single-family detached homes ( 26.77%), duplexes, homes converted to apartments or other small apartment buildings ( 21.93%), and a few large apartment complexes or high rise apartments ( 17.33%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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 ( 42.15%), 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 ( 35.08%), followed by between 1970-1999 ( 19.46%). There's also some housing in Lebanon built between 2000 and later ( 3.31%).

Vacant housing appears to be an issue in Lebanon. Fully 10.57% of the housing stock is classified as vacant. Left unchecked, vacant Lebanon homes and apartments can be a drag on the real estate market, holding Lebanon real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Lebanon Home Appreciation Rates

Real estate appreciation rates in Lebanon's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.44% during the period.

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 -0.27%, 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 3.25%, which equates to an annual appreciation rate of 13.64%.

Importantly, this makes Lebanon one of the highest appreciating communities in the nation for the latest quarter, and 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 lower 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.

Average Home Values

 

Median Home Value:
$95,224

Lebanon, PA HOME PRICES

Value Range
> $998,000 0.0
$748,001 - $998,000 0.1
$499,001 - $748,000 0.4
$399,001 - $499,000 0.0
$299,001 - $399,000 0.7
$199,001 - $299,000 3.5
$100,001 - $199,000 37.3
$50,001 - $100,000 49.5
$0 - $50,000 8.5

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
81.9289102301341 81.5458937198068

Number Of Homes And Apartments:
9,956

Rent & Ownership

 

Average Market Rent:
$766 / per month

Homeownership Rate

Homeownership
Owners 43.72
Renters 56.28
Vacant 10.57

Housing Market Details

 

Age of Homes

AGE OF Lebanon HOMES
2000 or Newer 3.3
1970 - 1999 19.5
1940 - 1969 35.1
1939 or Older 42.2

Types of Homes

TYPE OF Lebanon HOMES
Single-Family 26.8
Townhomes 33.8
Small Apt. Buildings 21.9
Apt. Complexes 17.3
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Lebanon HOMES
No Bedroom 5.81
1 Bedroom 20.56
2 Bedrooms 25.25
3 Bedrooms 35.74
4 Bedrooms 10.44
5 or more bedrooms 2.20

Lebanon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
24.37% 1.29% 1 2
* 10 is highest