Canaan, CT is a small town in the Litchfield Hills of Northwest Connecticut with a population of only 1,081 people. It is rich in history and known for its scenic beauty. While living costs are slightly higher than the national average, many local companies provide competitive wages to their employees. Some of these businesses include Canaan Hardware, Canaan Convenience Store, and Old Mill Pizzeria & Pub. Other attractions available to tourists and locals alike include Lime Rock Park auto racing track, Town Hill Market Garden, and the White Memorial Conservation Center. Education is important to residents as well; Canaan Elementary School provides excellent opportunities to local students. With its convenient location near larger cities such as Pittsfield MA, Hartford CT and Albany NY, it is clear why so many people call Canaan home.
Canaan has an unemployment rate of 7.9%. The US average is 6.0%.
Canaan has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Canaan
- The Sales Tax Rate for Canaan is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Canaan is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Canaan
- The average income of a Canaan resident is $39,209 a year. The US average is $28,555 a year.
- The Median household income of a Canaan resident is $80,938 a year. The US average is $69,021 a year.