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These days, finding an affordable place to live in the Canaan area can be challenging. Home prices in Canaan are now at a median cost of $213,611, lower than the Indiana average of $232,932.
The average cost of rent is $696/mo in Canaan, primarily driven by the current value of real estate in the Canaan area. In Canaan, 13.82% of households rent, and 32.81% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Canaan is $5,639 per month. Households that rent pay about 12.35% of their income on rent here. Canaan’s most expensive areas are in the eastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Cross Plains, IN: higher priced homes
- China, IN: less expensive homes
- Manville, IN: equally priced homes
- Rexville, IN: equally priced homes
- Bennington, IN: higher priced homes
- Fairview, IN: higher priced homes
- Friendship, IN: higher priced homes
- Olean, IN: higher priced homes
- Brooksburg, IN: equally priced homes
- Farmers Retreat, IN: higher priced homes
Cities with Similar Populations
- Jalapa, SC: less expensive homes
- Preston, OK: less expensive homes
- Potomac Shores, MD: higher priced homes
- Portland, AR: less expensive homes
- Kenney, TX: higher priced homes
- Kellyville, TX: less expensive homes
- Junction City, LA: less expensive homes
- Jollett, VA: less expensive homes
- Joice, IA: less expensive homes
- Princeton, AL: less expensive homes
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