Cheap Homes for Rent in Lebanon, MO from $500 (11 Rentals)

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Search the lowest-cost Homes available for rent right now in Lebanon.

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Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

Lebanon, MO Local Guide

Cheapest Available Lebanon Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lebanon, MO is a 2 Beds unit found at North Terrace Apartments in the Northeast neighborhood priced from $575. Eastview Apartments in the Southeast Springfield neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $605. Here is today’s list of the most affordable Lebanon apartments for rent:

Apartment ListingModel NameBed/BathPriced From
North Terrace Apartments2 x 1 Small2BR,1BA$575
Eastview ApartmentsStudioStudio,1BA$605
Forest Cove Apartments2x1 - Forest Cove2BR,1BA$625
Oak Place1 bedroom1BR,1BA$625
Town and Campus1 Bedroom 1 Bath1BR,1BA$720

Best Value Apartments for Rent in Lebanon, MO and Nearby

As of April 25, 2025 the best value apartment in the Lebanon area is the $0.89 price per square foot 2 Beds, 2 Baths Model at Parkwood Apartments in the in the Northeast neighborhood starting from $975. The second greatest value Lebanon apartment is the Two Bedroom, 1.5 Bathroom Townhome - Renovated Model at Dryden starting at $1,095 with a $1.22 price per square foot in the Southeast Springfield neighborhood. Here is today’s list of the best values for Lebanon apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Parkwood Apartments2 Beds, 2 Baths2BR,2BA$0.89
DrydenTwo Bedroom, 1.5 Bathroom Townhome - Renovated2BR,1.5BA$1.22
Deeswood Village ApartmentsThe Flat2BR,1.5BA$1.03
Silver Springs Apartments2 Bed2BR,1.5BA$0.92
Cedarstone & Oak LeafCedarstone 2 Bedroom, 1 Bathroom2BR,1BA$1.27
North Terrace Apartments2 x 1 Small2BR,1BA$0.73
Town and Campus1 Bedroom 1 Bath1BR,1BA$1.11
Coryell Courts ApartmentsOlivia 2Studio ,1BA$1.43
The WillowsStudioStudio ,1BA$1.38
Oak Place1 Bed, 1 bath1BR,1BA$1.39

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Frequently Asked Questions about Lebanon

What type of rentals are currently available in Lebanon?

There are currently 62 Apartments for Rent in Lebanon, MO with pricing that ranges from $400 to $4,131. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lebanon ranging from $500 to $3,800.

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 $3,800 with an average monthly rent of $1,411.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.