
Cheap Homes for Rent in Lebanon, MO from $500 (14 Rentals)
Search the lowest-cost Homes available for rent right now in Lebanon.


25575 17-770E

1306 U.S. Rte 66

115 Holly Dr

210 N Pine St

272 Cornelison Ave

413 E Doxey St
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

120 Bluff Cir

398 Hill St

1215 Pine St

2034 N Washington Ave

956 Commercial Ln

97 Timbers Way

20600 Sedalia Rd
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
Lebanon, MO Local Guide

How much does it cost to rent a home in Lebanon?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lebanon 2 Bedroom Homes for Rent | $988 | $750 | $1,400 |
| Lebanon 3 Bedroom Homes for Rent | $1,780 | $850 | $5,000 |
| Lebanon 4 Bedroom Homes for Rent | $1,793 | $1,680 | $1,850 |
| Lebanon 5 Bedroom Homes for Rent | $3,000 | $3,000 | $3,000 |
Browse Top Homes for Rent in Lebanon
Explore Lebanon
Lebanon, MO Local Guide
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Cheapest Available Lebanon Apartments for Rent
 The cheapest available apartment rental in Lebanon, MO is a Studio unit found at Wyota Commons West priced from $550. North Terrace Apartments in the Northeast neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $575. Here is today’s list of the most affordable Lebanon apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Wyota Commons West | Studios | Studio,1BA | $550 |
| North Terrace Apartments | 2 x 1 Small | 2BR,1BA | $575 |
| Oak Place | 1 bedroom | 1BR,1BA | $600 |
| Forest Cove Apartments | 2x1 - Forest Cove | 2BR,1BA | $625 |
| Eastview Apartments | Studio | Studio,1BA | $650 |
Best Value Apartments for Rent in Lebanon, MO
As of April 26, 2026 the best value apartment in the Lebanon area is the $0.97 price per square foot 3x2 Model at Summit Park in the starting from $1,595. The second greatest value Lebanon apartment is the 3 Beds, 2 Baths Model at Parkwood Apartments starting at $1,200 with a $1.00 price per square foot in the Northeast neighborhood. Here is today’s list of the best values for Lebanon apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Summit Park | 3x2 | 3BR,2BA | $0.97 |
| Parkwood Apartments | 3 Beds, 2 Baths | 3BR,2BA | $1.00 |
| Hillcrest 90 | 2 Bedroom | 2BR,1BA | $0.86 |
| Dryden | Two Bedroom, 1.5 Bathroom Townhome - Renovated | 2BR,1.5BA | $1.22 |
| Meadowview Apartments | 2 Beds, 1.5 Baths | 2BR,1.5BA | $0.94 |
| English Village II | 2 Bedroom, 2 Bathroom | 2BR,2BA | $1.00 |
| English Village | 2 Bedroom, 1 Bathroom | 2BR,1BA | $0.96 |
| North Terrace Apartments | 2 x 1 Small | 2BR,1BA | $0.73 |
| Grandview Village | 1 bedroom | 1BR,1BA | $1.04 |
| Wyota Commons West | Studios | Studio ,1BA | $1.22 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read ArticleDon't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Best Local Schools in Lebanon, MO
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Lebanon, MO Rentals by Map
See the most popular apartments and homes in Lebanon, MO
Frequently Asked Questions about Lebanon
What type of rentals are currently available in Lebanon?
There are currently 66 Apartments for Rent in Lebanon, MO with pricing that ranges from $500 to $2,555. There are also 44 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lebanon ranging from $500 to $5,000.
What is the current price range for Rental Homes in Lebanon?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Lebanon ranges from $500 to $5,000 with an average monthly rent of $1,533.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.