Lebanon, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lebanon, VA Real Estate Data


Lebanon Housing Market Information

With a population of 3,342, 1,352 total housing units (homes and apartments), and a median house value of $131,487, 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 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 -0.79% during the period.

NeighborhoodScout's data show that during the latest twelve months, Lebanon's appreciation rate, at 4.11%, has been at or slightly above the national average. In the latest quarter, Lebanon's appreciation rate has been 2.20%, which annualizes to a rate of 9.09%.

Importantly, this makes Lebanon one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Virginia, our data show that Lebanon's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$131,487

Lebanon, VA HOME PRICES

Value Range
> $1,044,000 0.0
$784,001 - $1,044,000 0.0
$522,001 - $784,000 0.6
$418,001 - $522,000 3.8
$313,001 - $418,000 4.9
$209,001 - $313,000 12.7
$104,001 - $209,000 34.2
$52,001 - $104,000 23.9
$0 - $52,000 19.8

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
58.7776866283839 73.9612188365651

Number Of Homes And Apartments:
1,352

Rent & Ownership

 

Average Market Rent:
$694 / per month

Homeownership Rate

Homeownership
Owners 50.74
Renters 49.26
Vacant 16.54

Housing Market Details

 

Age of Homes

AGE OF Lebanon HOMES
2000 or Newer 21.1
1970 - 1999 49.1
1940 - 1969 23.3
1939 or Older 6.5

Types of Homes

TYPE OF Lebanon HOMES
Single-Family 45.6
Townhomes 9.9
Small Apt. Buildings 11.9
Apt. Complexes 18.1
Mobile Homes 14.6
Other 0.0

Home Size

SIZE OF Lebanon HOMES
No Bedroom 0.00
1 Bedroom 8.40
2 Bedrooms 34.38
3 Bedrooms 46.91
4 Bedrooms 5.99
5 or more bedrooms 4.32

Lebanon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
52.63% 2.48% 5 7
* 10 is highest

Popular Neighborhoods in Lebanon

Zip Codes in Lebanon, VA