Lebanon is a very small city located in the state of Illinois. With a population of 4,571 people and two associated neighborhoods, Lebanon is the 358th largest community in Illinois. There's nothing like the smell of a brand new house, and in Lebanon, you'll find that a large proportion of houses were recently built. New growth in residential real estate is an indication that people are choosing to move to Lebanon, and putting down their money on brand new construction. Lebanon’s real estate is, on average, some of the newest in the nation. Lebanon does seem to be experiencing an influx of affluent people, because the median household income is $86,548.00.

There are quite a few people in the armed forces living in Lebanon, and when you visit or drive around town, you will see military people in and out of uniform, shopping, enjoying life, and being part of the community.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 18.45% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Lebanon is a small town where college students really create the town feel and character. So many small towns have lost population over the last 20-30 years that having the local college presence in the Lebanon area, with all of the energy of the students filling area dorms and apartments each fall, really helps Lebanon maintain a good economy.

The education level of Lebanon citizens is very high relative to the national average among all cities (21.84%): 38.60% of adults in Lebanon have a bachelor's degree or even advanced degree.

The per capita income in Lebanon in 2022 was $34,375, which is middle income relative to Illinois and the nation. This equates to an annual income of $137,500 for a family of four. However, Lebanon contains both very wealthy and poor people as well.

Lebanon is a somewhat ethnically-diverse city. The people who call Lebanon home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Lebanon residents report their race to be White, followed by Black or African-American. Important ancestries of people in Lebanon include German, English, Irish, Italian, and French.

The most common language spoken in Lebanon is English. Other important languages spoken here include German/Yiddish and Spanish.