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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 $388,139, lower than the New York average of $610,895.
The average cost of rent is $1,493/mo in Canaan, primarily driven by the current value of real estate in the Canaan area. In Canaan, 19.17% of households rent, and 55.02% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Canaan is $8,904 per month. Households that rent pay about 16.77% of their income on rent here. Canaan’s most expensive areas are in the eastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- East Chatham, NY: equally priced homes
- Richmond, MA: higher priced homes
- New Lebanon, NY: less expensive homes
- Austerlitz, NY: higher priced homes
- West Lebanon, NY: less expensive homes
- West Stockbridge, MA: higher priced homes
- New Concord, NY: equally priced homes
- Old Chatham, NY: higher priced homes
- Brainard, NY: less expensive homes
- Lenox, MA: higher priced homes
Cities with Similar Populations
- Elizabeth, LA: less expensive homes
- Glenarm, IL: less expensive homes
- South Barnstead, NH: equally priced homes
- Glasgo, CT: less expensive homes
- South Madison, OH: less expensive homes
- Stoddard, NH: less expensive homes
- Flat Rock, GA: less expensive homes
- Faulkton, SD: less expensive homes
- Fair Haven, NY: less expensive homes
- Everson, PA: less expensive homes
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