The Most Affordable Neighborhoods in Canaan, MS by Home Value

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 $105,195, lower than the Mississippi average of $183,008.

The average cost of rent is $642/mo in Canaan, primarily driven by the current value of real estate in the Canaan area. In Canaan, 1.33% of households rent, and 33.01% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Canaan is $5,142 per month. Households that rent pay about 12.49% of their income on rent here. Canaan’s most expensive areas are in the southeastern 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.

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