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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 Q4 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (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 a population of 40,888, 13,957 total housing units (homes and apartments), and a median house value of $350,703, 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 62.13% of the city's housing units. Other types of housing that are prevalent in Lebanon include large apartment complexes or high rise apartments ( 19.20%), duplexes, homes converted to apartments or other small apartment buildings ( 10.78%), and a few row houses and other attached homes ( 4.90%).

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 54.70% owning and 45.30% renting.

Lebanon homes and real estate are some of the newest in America. 43.00% 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 ( 32.57%), and between 1940-1969 ( 21.86%). There's also some housing in Lebanon built before 1939 ( 2.57%).

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 124.92% over the last ten years, which is an average annual home appreciation rate of 8.44%, 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.

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 19.63%, which is higher than appreciation rates in 96.70% 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 0.69%, which equates to an annual appreciation rate of 2.81%.

Relative to Tennessee, our data show that Lebanon's latest annual appreciation rate is lower than 60% 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:
$350,703

Lebanon, TN HOME PRICES

> $1,501,000
$1,126,001 - $1,501,000
$751,001 - $1,126,000
$601,001 - $751,000
$451,001 - $601,000
$300,001 - $451,000
$150,001 - $300,000
$75,001 - $150,000
$0 - $75,000
0.8%
0.8%
1.1%
1.1%
4.1%
4.1%
7.4%
7.4%
25.1%
25.1%
31.5%
31.5%
21.1%
21.1%
5.7%
5.7%
3.0%
3.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for TN

Value Relative To Nation

Number Of Homes And Apartments:
13,957

Lebanon Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared To
TN
Compared To
America
Latest Quarter:
2022 Q3 - 2022 Q4
Last 12 Months:
2021 Q4 - 2022 Q4
Last 2 Years:
2020 Q4 - 2022 Q4
Last 5 Years:
2017 Q4 - 2022 Q4
Last 10 Years:
2012 Q4 - 2022 Q4
Since 2000:
2000 Q1 - 2022 Q4
163.43% 4.30%
6
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,127 / per month

Homeownership Rate

Owners
Renters
Vacant
54.7%
54.7%
45.3%
45.3%
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
43.0%
43.0%
32.6%
32.6%
21.9%
21.9%
2.6%
2.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.1%
62.1%
4.9%
4.9%
10.8%
10.8%
19.2%
19.2%
2.7%
2.7%
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.4%
2.4%
7.5%
7.5%
27.5%
27.5%
45.4%
45.4%
14.9%
14.9%
2.3%
2.3%
0.0% 100.0%
% OF HOMES