Lebanon, IN is a small city located in the center of Indiana. With a population of just over 15,000 people, Lebanon offers residents a relaxed lifestyle away from the hustle and bustle of other larger cities. The cost of living is also significantly lower than the national average; two bedroom rental costs are around $920 compared to the US average price of $1,430. Grocery prices are also lower with an index score of 94 versus 100 for the US as a whole.
The economy in Lebanon is diverse and includes several local businesses such as Lebanon Steel Foundry Company, Health Care Solutions, Bankers Life Fieldhouse, Lafayette Morehouse Products Inc, and ProLogistix Staffing Agency. All of these companies play an important role in making the city attractive to potential residents looking for employment opportunities or a change in lifestyle.
Lebanon has an unemployment rate of 3.1%. The US average is 6.0%.
Lebanon has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 41.9%, which is higher than the US average of 33.5%.
Tax Rates for Lebanon
- The Sales Tax Rate for Lebanon is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lebanon is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lebanon
- The average income of a Lebanon resident is $24,051 a year. The US average is $28,555 a year.
- The Median household income of a Lebanon resident is $58,412 a year. The US average is $69,021 a year.