More homes sold, and homes are taking longer to sell. Here is what changed in Lebanon this year and what the LEAP district means for a buyer.
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Lebanon sold more homes this year and sold them slower. Closings rose about 12%, from 193 to 217, and the median rose 2.0% to $304,900. But homes took a median of 23 days to go under contract instead of 10, supply climbed from 1.3 months to 2.2, and sellers got 97.9% of list instead of 98.2%.
That is a market with more choice than a year ago, not a falling one. Prices are holding, and buyers have time to look, inspect and negotiate on the homes that have been sitting.
Lebanon is the Boone County seat, a city of 16,662 in the 2020 Census, about 29 miles northwest of downtown Indianapolis on I-65. The 1911 courthouse, with its 52-foot art-glass dome, anchors a downtown square that has been on the National Register since 2016.
The big story is the LEAP Lebanon Innovation District, more than 9,000 acres along I-65. Lilly added $4.5 billion to its plans in May 2026 and expects more than 1,000 jobs. Meta has been reported to have started a data center campus there. Citizens Energy's $560 million pipeline to bring water to the district was set to begin work in December 2025.
What you are actually buying: a real county-seat downtown, a big city park system, four I-65 exits, and a median about $75,000 below Whitestown's. What you are giving up: distance from Indianapolis, and years of heavy construction and new industrial neighbors on the northwest side.
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Lebanon is an old county seat with a very new industrial district on its northwest side. Which side of town you buy on decides how much of that change you live with.
The Lebanon Courthouse Square Historic District, listed in 2016, around the 1911 courthouse. Heart of Lebanon, the downtown Main Street group, runs more than 35 events a year, and the Big Four Trail runs through downtown on the old rail line. Older homes, older systems.
See homes →The established city neighborhoods around the two largest city parks: 40-acre Memorial Park with the Seashore Waterpark, and 51-acre Abner Longley Park with a splash pad, disc golf and a sledding hill.
See homes →More than 9,000 acres along I-65 near US 52, home to Lilly's manufacturing campus and the reported Meta data center. A new $60 million interchange, Exit 143, is being built northwest of the city to replace Exit 141. Expect construction traffic for years.
See homes →The city adopted the 154-acre Northgate plan in 2026, with single-family, townhome, apartment, commercial and park areas in up to six phases. A roughly 400-unit plan called Spring Creek was proposed southeast of the Lilly campus in 2023; I couldn't confirm its approval status. For homes you can buy now, see the Boone County new home builds page.
See homes →South toward I-65 Exit 139, with the 10-acre Brookshire Arboretum at 2773 SR 39. A developer was reported in 2025 to be looking at about 220 acres along SR 39 for housing and retail. Ask what's planned near any address here.
See homes →Lebanon is served by Lebanon Community School Corporation. Confirm the assignment for the specific address.
In May 2022 voters were asked two questions. The capital question allowed up to $102.65 million in bonds for up to 20 years at an estimated maximum rate of 28.55 cents per $100 of assessed value, replacing an expiring levy, for a new elementary school and renovations. The operating question was to fund school police and elementary STEM teachers. The local paper reported that both passed; I couldn't confirm the final operating rate, so check your tax bill.
No Lebanon school referendum is on the November 3, 2026 ballot.
Memorial Park, Abner Longley Park, Conservation Park with a 3-acre fishing pond and the dog park, Hot Pond Park, Reese Park and Brookshire Arboretum. The Big Four Trail runs 3.3 miles through the city as part of a longer regional trail.
Lebanon is about 29 miles from downtown Indianapolis on I-65, with exits 138, 139, 140 and 141, plus US 52, SR 32 and SR 39. The new Exit 143 has been under construction since spring 2025, and I couldn't confirm an opening date. Drive your actual route at your actual start time before you commit.
Indiana caps homestead property tax at 1% of gross assessed value under the circuit breaker, so most owner-occupants land at or near that figure before any voter-approved referendum rate, which sits outside the cap. Rentals and second homes are capped at 2% and should be modeled separately. Boone County's local income tax is 1.71% in the Indiana Department of Revenue's notice effective October 1, 2026, a change from the January 2026 notice. A further public-safety local income tax increase has been proposed countywide and was not adopted as of late August 2026. Confirm assessments with the Boone County Assessor.
On the November 3, 2026 ballot: a City of Lebanon referendum, not a school one, on raising property taxes for up to 20 years to build a new police headquarters. The state filing lists $52,165,000 in principal and about $216 a year more on a $250,000 median home.
If years of construction traffic would wear on you, avoid the northwest side near LEAP. If a shorter drive into Indianapolis matters more than price, look at Whitestown or Zionsville, and expect to pay more for it.
The median single-family sale was $304,900 year to date through August 2026, on 217 closings, up 2.0% from $299,000 over the same stretch of 2025.
Yes. Months of supply rose from 1.3 in August 2025 to 2.2 in August 2026, and homes took a median of 23 days to go under contract instead of 10. Sellers received 97.9% of list price.
The LEAP Lebanon Innovation District, more than 9,000 acres along I-65. Eli Lilly's planned investment there is above $18 billion, with its API site scheduled to open in 2027 and more than 1,000 jobs expected.
Lebanon Community School Corporation. Confirm the assignment for the specific address.
Not a school referendum. The City of Lebanon has a referendum on the November 3, 2026 ballot to fund a new police headquarters, estimated at about $216 a year more on a $250,000 median home.
Yes. As of September 27, 2026, Lennar's Corbett Towns townhomes list from $302,995, Fischer's Cedar Ridge from $311,990 and D.R. Horton's Angilee Gardens from the $325,000s. Lennar's Liberty Village and Auburn Meadows are coming soon.
I'm Wes Johnston, a Realtor with Trueblood Real Estate, based in Fishers. I cover the whole Indianapolis metro, and every guide on this site is built the same way: MIBOR numbers, public sources, and the trade-offs a listing description won't mention.
My job isn't to open doors. It's to tell you what a house is actually worth, what's wrong with it, and whether it's the right move for what you're trying to do — then negotiate hard on your behalf and own the process from contract to close.
If you're two years out, that's fine. Most of my best clients started with a question, not a showing.
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