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These days, finding an affordable place to live in the New Canaan area can be challenging. Home prices in New Canaan are now at a median cost of $1,556,510, higher than the Connecticut average of $418,901.
The average cost of rent is $3,297/mo in New Canaan, primarily driven by the current value of real estate in the New Canaan area. In New Canaan, 16.30% of households rent, and 32.41% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Canaan is $18,961 per month. Households that rent pay about 17.39% of their income on rent here. New Canaan’s most expensive areas are in the northwestern 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
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Cities with Similar Populations
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- Greenwood, MS: less expensive homes
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