Housing costs in Canaan?
A typical home costs
$222,100, which is 34.3% less expensive than the national average of
$338,100 and 0.2% more expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Canaan costs
$800 per month, which is 44.1% cheaper than the national average of
$1,430 and 22.5% cheaper than the state average of
$980.
Can I afford Canaan?
To live comfortably in Canaan (zip 47224), Indiana, a minimum annual income of
$42,480 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Canaan?
The cost of living in 47224 Canaan, IN is quite affordable. While housing prices are slightly higher than the state average, the overall cost of living index is almost 8% lower than the US average. The median household income is also relatively low at just over $46,000, making it an attractive destination for those looking to stretch their dollar further. Other costs such as groceries and transportation are also quite reasonable with gas prices being well below the national average. All in all, 47224 Canaan is a great place to live for those looking for a more affordable lifestyle without sacrificing quality of life.