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Studio Apartment for Rent in Lebanon, IL

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    Starting at $200 Per Month

    • Studio - 2 Beds

    600 S Horner St, Lebanon, IL 62254

    Cedars of Lebanon Apartments is a HUD-subsidized affordable housing community designed to provide quality, comfortable apartment living at a rent residents can afford. Through the HUD rental assistance program, qualified residents do not pay the full market rent for their apartment. Instead, a resident’s monthly rent is generally based on their household income, with eligible residents typically

    Cedars of Lebanon Apartments

    600 S Horner St, Lebanon, IL 62254

Why Live in Lebanon

Lebanon, Illinois, is a small city with a population of around 4,700, known for its historic charm and old-fashioned sensibilities. Located just east of rural farmlands and green spaces, Lebanon features classic architecture and is home to McKendree University, the oldest university in Illinois. The city is about a 30-minute drive from St. Louis and 15 minutes from Scott Air Force Base, making it a convenient location for professionals seeking a slower-paced lifestyle. Central Lebanon is characterized by homes built between the mid-19th and early 20th centuries, including Cape Cods, bungalows, and colonials, often requiring regular upkeep. The north side of the city features newer 21st-century New Traditional homes. The Brick Street Shopping District, with its Victorian storefronts, offers a variety of attractions, including antique stores and modern amenities. Madison Street provides more contemporary shopping options, including fast food and grocery stores. Horner Park offers 58 acres of recreational space, including baseball fields, tennis courts, and a fishing lake, while Trillium Trail and Emerald Mound provide unique outdoor experiences. The Mermaid House, a historic hotel and pub, now serves as a museum. Major routes like U.S. Route 4 make commuting to nearby cities like St. Louis and Springfield straightforward. Medical facilities such as Memorial Hospital Shiloh and Cedar Ridge Health and Rehab Center are also accessible.

Frequently Asked Questions

How much does it cost to rent a home in Lebanon, IL?
The median rent for a home in Lebanon, IL is $1,337 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Lebanon, IL?
To comfortably afford the median rent in Lebanon, IL, a household needs to earn roughly $53,480 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,337 per month in Lebanon, IL, renters typically need to show $4,011 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Lebanon, IL?
In Lebanon, IL, the price-to-rent ratio is 13.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,337
Median Single Family Home Rent
$1,400
Median Condo Rent
$963
How to Rent a Home