Quick facts: Lebanon, CT

Quick Facts

114.2
Cost of Living
above US average
7,207
Population
4.16
Crime Rate per 1000
below US average
$102,000
Median Income
above US average
$395,000
Median House Price
above US average
$2567.5
Average Rent
above US average
3%
Poverty Rate
below US average
2.7%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $102,000.

🏠

Income Needed to Buy

βœ— Stretch
$124k/year
Based on $395,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $124k vs median $102,000
🏒

Income Needed to Rent

⚠ Stretch
$110k/year
Based on $2567.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $110k vs median $102,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lebanon, CT

Lebanon is a picturesque town located in New London County, Connecticut. Known for its charming rural landscape, Lebanon boasts a rich history dating back to the 18th century and retains much of its colonial architecture and heritage. The town covers an area of approximately 43 square miles and is characterized by rolling hills, farms, and natural beauty, offering residents and visitors ample opportunities for outdoor activities. One of the town's highlights is the Lebanon Green Historic District, which features important historical buildings and is a center for community events. The town is also home to several parks and recreational areas, including the Lebanon Town Park, where families can enjoy picnics, sports, and various outdoor events. Lebanon is a tight-knit community with a focus on local schools, agriculture, and local businesses. It also hosts events throughout the year, such as the Lebanon Farmers Market and the annual Lebanon Country Fair, which celebrate the town’s culture and community spirit. With its blend of history, community, and natural beauty, Lebanon offers a serene and welcoming environment for those who live and visit.

πŸ” Search & Compare Places

First Location πŸ“