Housing costs in Lebanon?
A typical home costs
$164,800, which is 51.3% less expensive than the national average of
$338,100 and 52.0% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Lebanon costs
$800 per month, which is 44.1% cheaper than the national average of
$1,430 and 75.0% cheaper than the state average of
$1,400.
Can I afford Lebanon?
To live comfortably in Lebanon, Virginia, a minimum annual income of
$31,680 for a family, and
$24,400 for a single person is recommended.
What does A.I. say about Lebanon?
The cost of living in Lebanon, VA is generally considered to be quite reasonable. The city's overall cost of living index score stands at 85.7, which is slightly below the national average of 100. This means that all basic necessities, like food, transportation, health care, and housing are all typically more affordable than the national average. Housing costs are especially low, with median home prices coming in at approximately $169,000 - nearly 25% less than the national average. Additionally, Lebanon's sales tax rate of 5.3%, which is lower than many surrounding areas in Virginia and Tennessee, makes it an attractive location for those looking for a place to live with reasonable costs of living.