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These days, finding an affordable place to live in the Canyon area can be challenging. Home prices in Canyon are now at a median cost of $264,327, lower than the Texas average of $322,096.
The average cost of rent is $1,131/mo in Canyon, primarily driven by the current value of real estate in the Canyon area. In Canyon, 33.63% of households rent, and 46.96% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Canyon is $7,500 per month. Households that rent pay about 15.09% of their income on rent here. Canyon’s most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Timbercreek Canyon, TX: higher priced homes
- Palisades, TX: higher priced homes
- Ogg, TX: higher priced homes
- Umbarger, TX: higher priced homes
- Lake Tanglewood, TX: higher priced homes
- Dawn, TX: less expensive homes
- Wayside, TX: less expensive homes
- Hereford, TX: less expensive homes
- Westway, TX: equally priced homes
- Paloduro, TX: less expensive homes
Cities with Similar Populations
- Rocky River, OH: higher priced homes
- McAlester, OK: less expensive homes
- McNair, VA: higher priced homes
- North Plainfield, NJ: higher priced homes
- North Tustin, CA: higher priced homes
- Pittsboro, NC: higher priced homes
- Portland, TN: higher priced homes
- Portsmouth, NH: higher priced homes
- Princeton Junction, NJ: higher priced homes
- Republic, MO: less expensive homes
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