Cost of Living in Lebanon, TN
Housing
The housing market plays a significant role in determining the cost of living in Lebanon, TN.
- Housing Index: 92.0 / 100
- Median Home Price is: $312000
- Average Rent (2 BR Apartment): $1600 per month
- Average Rent (2 BR House): $1646 per month
Considering moving to Lebanon, TN? With a housing index of 92.0, the market is relatively accessible compared to the national average. The current median home price in the area is 312000 which offers a promising investment opportunity, especially for first-time buyers. Additionally, if renting is on your mind, expect to pay approximately 1600 for a 2-bedroom apartment or 1646 for a 2-bedroom house. Keep in mind, such rental prices may reflect the vibrant amenities and quality of life the area has to offer, making it a desirable choice for families and professionals alike.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lebanon, TN.
- Electricity Price: $12.57 USD (median by state)
- Natural Gas Price: $12.35 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $260 per month
Living in Lebanon, TN could entail higher utility costs. Electricity costs sit at $12.57, while natural gas is priced at $12.35 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $260 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Lebanon is a financially viable option for your relocation.