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Lebanon

Learn about the people, housing, costs and businesses in Lebanon, Illinois

Median Home$227,893
Median Rent$1,091/month
Population4,755
Leading IndustriesArts, Food & Hospitality · Finance & Insurance · Information & Media9% arts, food & hospitality
Home Value Growth+8.1% over 2 years
Young Adults41% of residentstop 2% nationally
Homeowners73% of occupied units
NotableVeteran Community16% of residents · top 1% nationally
NotableHighly Educated23% hold a bachelor's degree · top 23% nationally
Lebanon
IL

Frequently Asked Questions

What are today's mortgage rates in Lebanon?

As of today, the 30-year fixed mortgage rate for Lebanon is approximately 7.057% (7.067% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lebanon?

The median home value in Lebanon is $228k. The median monthly rent is $1,091. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lebanon?

Home values in Lebanon have increased 8.1% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lebanon?

Based on a typical all-in ownership cost of $1,284/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $55k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lebanon is $87k/year.

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What industries drive the economy in Lebanon?

The largest employment sectors in Lebanon are public administration (24%) and healthcare (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.