Rent vs Buy in Lebanon, PA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Lebanon, PA
Price-to-rent ratio is 19.1 (under 15 favors buying, over 21 favors renting). Renting costs $1,269/mo; owning runs about $2,175/mo — $906/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,543 |
| Property tax | $267 |
| Home insurance | $121 |
| Maintenance | $243 |
| Total to own | $2,175 |
| Average 2BR rent | $1,269 |
Based on a median home value of $291,454 with a $58,291 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.