Lebanon, PA Housing Market
AI-powered market intelligence for the Lebanon, PA metro area.
PropertyIQ Scores
Lebanon, PA Market Analysis
Market Overview
Lebanon, PA presents a strong housing market, as reflected by a PropertyIQ Score of 89 out of 100. The score is supported by top drivers including 12-month home value momentum of 8.60%, 3-month home value momentum of 0.42%, median days on market of 46 days, and a share of listings with a price cut of 12.0%. The median home value of $321,498 is $30,946 above the Pennsylvania state average of $290,552. The rent index of $1,412 is also well above the state average of $1,162, and the unemployment rate of 3.4% is lower than the state average of 4.1%. Median household income is $76,350, essentially in line with the state average of $76,081. These benchmarks place Lebanon ahead of typical Pennsylvania market conditions.
While the overall score is strong, the price data contains a mixed signal. The 12-month home value momentum reading of 8.60% suggests meaningful momentum over the past year, but the year-over-year home value change is reported as just $4, which is essentially flat in dollar terms. The 3-month momentum of 0.42% also points to a slower recent pace. With 260 homes for sale, median days on market at 46 days, and a price cut share of 12.0%, the market is moving at a steady, seller-friendly pace. Population growth is not available in the provided data, so demographic-driven demand cannot be assessed directly.
Key Trends
The first trend is home value elevation with cooling momentum. The median home value of $321,498 is about 10.7% above the state average of $290,552. However, the 12-month home value momentum of 8.60% contrasts with the 3-month momentum of 0.42% and a year-over-year median home value change of $4, indicating that the strongest appreciation may be behind the current period.
A second trend is a stronger rental market. Lebanon’s rent index of $1,412 is $250 higher than the state average of $1,162, a roughly 21.5% premium. This rental premium means that renting is comparatively more expensive in Lebanon, which can support both tenant demand and investor interest.
A third trend is labor market stability. The unemployment rate of 3.4% is 0.7 percentage points below the state average of 4.1%, and median household income of $76,350 is slightly above the state average of $76,081. These figures support a solid base of local purchasing power.
A fourth trend is steady market pace. Median days on market is 46 days, and only 12.0% of listings have a price cut, suggesting that sellers are not relying heavily on discounts. The price-to-income ratio, calculated from the median home value and median household income, is about 4.2 in Lebanon, compared with about 3.8 at the state level. This points to a slightly higher but still moderate affordability bar for local buyers.
Who Is This Market For
Lebanon’s profile is well suited to investors and move-up buyers. The rent index of $1,412, which is well above the state average, provides a relatively strong rental income backdrop. Combined with median days on market of 46 days and a price cut share of 12.0%, investors may find that well-priced properties move without deep discounts. The 12-month home value momentum of 8.60% also points to recent appreciation potential.
The market may also work for first-time buyers who have stable incomes and can manage a median home value of $321,498. With median household income at $76,350, the price-to-income ratio is about 4.2, which is slightly above the state average but not extreme. Renters facing a rent index of $1,412 may have an incentive to buy, especially with unemployment at just 3.4%. However, first-time buyers looking for properties below the state average may find fewer options, since the local median home value is about $30,946 above the Pennsylvania median. The missing population growth data means it is harder to say whether new household formation will expand the buyer pool.
Outlook
The near-term outlook for Lebanon is one of stability with cooling price momentum. The strong 12-month home value momentum of 8.60% is tempered by a 3-month momentum of 0.42% and a year-over-year home value change of $4, suggesting that rapid price gains are not currently accelerating. Median days on market of 46 days and a price cut share of 12.0% indicate steady buyer engagement without signs of a distressed or overheated market. Low unemployment of 3.4% and a rent index of $1,412 above the state average should continue to support demand from both owner-occupants and tenants. With 260 homes for sale and population growth unavailable, the supply and demographic sides of the outlook remain less certain. Overall, the data supports a stable market, with the cooling momentum suggesting that price growth may remain modest in the months ahead.
AI-generated analysis based on current market data. Last updated August 18, 2026.
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Lebanon, PA market data
Lebanon, PA Housing Market Overview
Lebanon, PA's median home value is $321K, up 8.6% over the past year. Homes here sell in a median 46 days. Its PropertyIQ Score of 89 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
The Lebanon, PA metro area is one of 900+ US metropolitan markets that PropertyIQ scores each month. A single PropertyIQ Score blends Zillow price momentum with Realtor.com market-flow signals to estimate 3-year excess appreciation versus the market's state — showing not just where prices stand today, but how the market is positioned relative to its peers.
The Mid-Atlantic corridor benefits from proximity to major financial centers and government institutions. Housing markets in this region balance urban density with suburban expansion, creating varied opportunities from walkable city neighborhoods to rapidly growing exurbs. Within the Mid-Atlantic, Lebanon, PA's PropertyIQ Score of 89 ranks among the Mid-Atlantic's stronger demand signals.
Pennsylvania's housing market spans from Philadelphia's dense urban neighborhoods to Pittsburgh's tech-driven renaissance and rural communities in between, offering diverse investment profiles at various price points.
Each month, PropertyIQ updates its score for Lebanon, PA using four inputs: Zillow ZHVI twelve-month and three-month momentum, Realtor.com median days on market, and the Realtor.com share of listings with price cuts. These four signals are combined into a single 1 to 99 score computed across all metro markets and calibrated so 50 represents the state average, making it a direct read of how this market is positioned to perform relative to its state. Momentum here has been positive, with home values up 8.6% over the past year.
View Lebanon, PA's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.
Counties in the Lebanon, PA metro area
ZIP codes in the Lebanon, PA metro area
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Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Lebanon, PA a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Lebanon, PA currently scores 89, a strong-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $321K, up 8.6% over the past year. So whether Lebanon, PA is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Lebanon, PA?
Lebanon, PA's PropertyIQ Score is 89, indicating strong momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 89 places Lebanon, PA above its state benchmark.
Are home prices in Lebanon, PA rising or falling?
Home prices in Lebanon, PA are rising. Over the past year, the median home value increased 8.6%, reaching $321K. Over the latest three months, values moved up 0.4%, a sign near-term demand remains firm. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Lebanon, PA's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Lebanon, PA?
In Lebanon, PA, homes sell in a median of 46 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 12% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Lebanon, PA market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.