$1,950 Per Month
- 2 Beds
- 2 Baths
- 1,000 Sq Ft
- OWN937
260 Hobbs St Unit 260 HOBBS ST, Lebanon, OR 97355
Frequently Asked Questions
How much does it cost to rent a condo in Lebanon, OR?
The median rent for a condo in Lebanon, OR is $1,525 per month, though prices vary by neighborhood, size, and property type. As of July 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Lebanon, OR?
To comfortably afford the median rent in Lebanon, OR, a household needs to earn roughly $73,000 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 $1,825 per month in Lebanon, OR, renters typically need to show $5,475 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, OR?
In Lebanon, OR, the price-to-rent ratio is 17.3, 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.
What neighborhoods in Lebanon, OR are best for renting a condo?
The best neighborhood for renting in Lebanon, OR depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Willamette, Central Albany, South Corvallis, Northwest Corvallis and Southwest Corvallis, each with its own character and price range.
