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City Report · IN

Lebanon

Pop. 17,812·17th most expensive in Indiana·Rental market data updated monthly for Lebanon, IN
Median rent (all units)
$1,781/mo
Year-over-Year
-0.6%
Month-over-Month
+0.3%
vs US Median
-$181
Stable (Monthly)
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Most AffordableMost Expensive
Lebanon · $1,781
More affordable than 55% of US cities · National median $1,962/mo
Affordability
33% of income
MODERATE
0%30% benchmark60%+

At $1,781/mo, rent takes about 33% of the local median household income, slightly above the 30% benchmark.

Income to afford
$71,000/yr
Local median income
$65,154/yr
Based on the 30%-of-income rule using Lebanon's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$890
1 BR
$1,040
2 BR
$1,220
3 BR
$1,590
4 BR+
$1,920
Fair Market Rent (HUD)
$1,220/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,781 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$21,372/yr
At $1,781/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-0.6% YoY, +0.3% MoM), not inventory.
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Demographics

Who lives here

Lebanon, IN is majority owner-occupied, has a median income below the national average, 21.7% of residents hold a bachelor's degree or higher.

Population
17,812
Median income
$65,154
Median age
34.6
Renters
30.5%
Age distribution
24%
26.7%
21.5%
16.9%
Under 1824%
18–3426.7%
35–5421.5%
55–6410.9%
65+16.9%
Gender
47.6%
52.4%
Male47.6%
Female52.4%
Race & ethnicity
89.3%
White89.3%
Black0.9%
Hispanic7.8%
Other1.8%
Education (25+)
13.3%
32.5%
32.5%
21.7%
No HS diploma13.3%
HS diploma32.5%
Some college32.5%
Bachelor's+21.7%
Housing tenure
69.5%
30.5%
Owner69.5%
Renter30.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Lebanon, IN has changed in 5 years

Income
$58,412 → $65,154
up 11.5%
Population
17,196 → 17,812
up 3.6%
Renter share
32.1% → 30.5%
-1.6 pts
Bachelor's+
23.7% → 21.7%
-2.0 pts
Median age
36.3 → 34.6
-1.7 yrs

Census figures show median household income at $65,154 today, compared with $58,412 five years earlier. Census counts show Lebanon, IN adding about 616 residents over the five-year window, up 3.6% on net. The renter share has eased from 32.1% to 30.5%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 23.7% to 21.7% across the same window.

Community

Discussions about Lebanon

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View Lebanon rent history (2015–2026) →
Salary vs rent

Can you afford rent in Lebanon on your salary?

At $1,781/mo, how Lebanon rent compares to typical pay (30% rule).

By apartment size

Lebanon rent by bedroom count

Median rent for each apartment size in Lebanon. Click any size for full breakdown.

Local insights

Tips for renters in Lebanon

About renting in Lebanon, IN

Last updated: August 17, 2026

The median rent in Lebanon is $1,781/mo as of August 2026. A studio apartment averages $890/mo while a 2-bedroom runs $1,220/mo. One-bedroom apartments average $1,040/mo and 3-bedroom units go for $1,590/mo.

At 33% of local median household income ($65,154/yr), Lebanon ranks as moderate compared to the national benchmark of 30%. Rents have decreased 0.6% over the past year.

FAQ

Frequently asked questions

Is Lebanon an affordable city for renters?

Lebanon is considered moderate for renters. At $1,781/mo, rent takes approximately 33% of the local median household income ($65,154/yr). The standard benchmark is 30%. Lebanon slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Lebanon?

To keep rent at or below 30% of gross income, you would need to earn at least $71,000/year (~$34/hour full-time) to afford the median rent of $1,781/mo in Lebanon. The local median household income is $65,154/yr, meaning the typical Lebanon household falls short of that threshold.

Is rent going up or down in Lebanon?

Rent in Lebanon has decreased 0.6% over the past year as of August 2026, offering some relief compared to 12 months ago.

How does Lebanon rent compare to other cities in Indiana?

Lebanon is one of the pricier cities in Indiana for rent, ranking #17 out of 62 tracked cities at $1,781/mo.

Which nearby cities are cheaper to rent in than Lebanon?

Frankfort is nearby and more affordable at $967/mo, which is $814 less than Lebanon.

What percentage of Lebanon residents rent vs. own?

According to Census data, approximately 30.5% of Lebanon households are renters, while 69.5% are owner-occupied. Lebanon leans toward homeownership, which can mean a smaller rental inventory.

How does Lebanon rent compare to the national average?

Lebanon's median rent of $1,781/mo is $181 (9%) below the US national median of $1,962/mo. Within Indiana, it ranks #17 out of 62 tracked cities.
Income Affordability
33%
MODERATE

At $1,781/mo, rent takes ~33% of Lebanon's median household income ($65,154/yr). The standard benchmark is 30%.

Lebanon 33%Benchmark 30%
State income tax3.05%
Run the Lebanon affordability calculator →
Lowest-rent ZIP codes in Lebanon
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lebanon, IN

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