Housing costs in Canaan?
A typical home costs
$407,200, which is 20.4% more expensive than the national average of
$338,100 and 12.5% more expensive than the average Connecticut home, at
$362,100. Renting a two-bedroom unit in Canaan costs
$1,360 per month, which is 4.9% cheaper than the national average of
$1,430 and 22.1% cheaper than the state average of
$1,660.
Can I afford Canaan?
To live comfortably in Canaan, Connecticut, a minimum annual income of
$78,120 for a family, and
$42,000 for a single person is recommended.
What does A.I. say about Canaan?
The cost of living in Canaan, CT is slightly higher than the national average. According to BestPlaces, the cost of living index in Canaan is around 107.6, which is 7.6% higher than the national average. Although it may be a bit more expensive to live here compared to some other places, there are plenty of amenities that make up for it. Housing in particular can be expensive due to its popularity with tourists and outdoor enthusiasts looking for a beautiful place to call home. Groceries, transportation and healthcare costs remain close to the national average making it easier on residents' wallets.