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City Report · MO

Lebanon

Pop. 15,270·78th most expensive in Missouri·One of the most affordable rental markets in the US
Median rent (all units)
$946/mo
Year-over-Year
Stable
Month-over-Month
+7.6%
vs US Median
-$1,016
Rising (Monthly)
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Most AffordableMost Expensive
Lebanon · $946
More affordable than 99% of US cities · National median $1,962/mo
Affordability
23% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $946/mo, rent takes about 23% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$38,000/yr
Local median income
$48,359/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
$630
1 BR
$640
2 BR
$840
3 BR
$1,120
4 BR+
$1,400
Fair Market Rent (HUD)
$840/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $946 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
$11,352/yr
At $946/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +7.6% MoM), not inventory.
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Demographics

Who lives here

Lebanon, MO is roughly split between renters and owners, has a large share of families with children, has a median income below the national average, 18.2% of residents hold a bachelor's degree or higher.

Population
15,270
Median income
$48,359
Median age
37.4
Renters
47.9%
Age distribution
25.7%
20.9%
26%
16.9%
Under 1825.7%
18–3420.9%
35–5426%
55–6410.6%
65+16.9%
Gender
49.1%
50.9%
Male49.1%
Female50.9%
Race & ethnicity
92.2%
White92.2%
Black0.5%
Hispanic4.1%
Asian1.5%
Other1.7%
Education (25+)
14.6%
41%
26.2%
18.2%
No HS diploma14.6%
HS diploma41%
Some college26.2%
Bachelor's+18.2%
Housing tenure
52.1%
47.9%
Owner52.1%
Renter47.9%

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

2021 vs 2026

How Lebanon, MO has changed in 5 years

Income
$40,885 → $48,359
up 18.3%
Population
14,880 → 15,270
up 2.6%
Renter share
49.1% → 47.9%
-1.2 pts
Bachelor's+
17.1% → 18.2%
+1.1 pts
Median age
34.5 → 37.4
+2.9 yrs

Census figures show median household income at $48,359 today, compared with $40,885 five years earlier. Headcount in the area went from 14,880 to 15,270 between 2021 and 2024, a 2.6% change.

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 $946/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, MO

Last updated: August 17, 2026

The median rent in Lebanon is $946/mo as of August 2026. A studio apartment averages $630/mo while a 2-bedroom runs $840/mo. One-bedroom apartments average $640/mo and 3-bedroom units go for $1,120/mo.

At 23% of local median household income ($48,359/yr), Lebanon ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Lebanon an affordable city for renters?

Lebanon is considered very affordable for renters. At $946/mo, rent takes approximately 23% of the local median household income ($48,359/yr). The standard benchmark is 30%. Lebanon falls comfortably within that range.

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 $38,000/year (~$18/hour full-time) to afford the median rent of $946/mo in Lebanon. The local median household income is $48,359/yr, meaning the typical Lebanon household meets that threshold.

Is rent going up or down in Lebanon?

Rent in Lebanon has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Lebanon rent compare to other cities in Missouri?

Lebanon is one of the more affordable cities in Missouri for rent, ranking #78 out of 79 tracked cities at $946/mo.

What percentage of Lebanon residents rent vs. own?

According to Census data, approximately 47.9% of Lebanon households are renters, while 52.1% 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 $946/mo is $1,016 (52%) below the US national median of $1,962/mo. Within Missouri, it ranks #78 out of 79 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $946/mo, rent takes ~23% of Lebanon's median household income ($48,359/yr). The standard benchmark is 30%.

Lebanon 23%Benchmark 30%
State income tax2–4.7%
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, MO

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