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
With a population of 3,342, 1,352 total housing units (homes and apartments), and a median house value of $128,669, house prices in Lebanon are solidly below the national average.
Single-family detached homes are the single most common housing type in Lebanon, accounting for 45.56% of the town's housing units. Other types of housing that are prevalent in Lebanon include large apartment complexes or high rise apartments ( 18.09%), mobile homes or trailers ( 14.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.91%).
The most prevalent building size and type in Lebanon are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 50.74% owning and 49.26% renting.
There is a lot of housing in Lebanon built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lebanon built between 1940-1969 ( 23.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.11%). There's also some housing in Lebanon built before 1939 ( 6.54%).
Vacant housing appears to be an issue in Lebanon. Fully 16.54% 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's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lebanon during the period has been just -1.23%, which is lower than 70% of US communities.
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 0.25%, 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 -1.60%, which equates to an annual appreciation rate of -6.23%.
Notably, Lebanon's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Lebanon's latest annual appreciation rate is lower than 70% of the other cities and towns in Virginia.
|$767,001 - $1,023,000||0.0|
|$511,001 - $767,000||0.6|
|$409,001 - $511,000||3.8|
|$307,001 - $409,000||4.9|
|$205,001 - $307,000||12.7|
|$102,001 - $205,000||34.2|
|$51,001 - $102,000||23.9|
|$0 - $51,000||19.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Lebanon HOMES|
|2000 or Newer||21.1|
|1970 - 1999||49.1|
|1940 - 1969||23.3|
|1939 or Older||6.5|
|TYPE OF Lebanon HOMES|
|Small Apt. Buildings||11.9|
|SIZE OF Lebanon HOMES|
|5 or more bedrooms||4.32|