Canaan, NY is a vibrant small town located in Columbia County. As of the most recent census, the population was 3,696 residents. The cost of living in Canaan is relatively low compared to other parts of New York State, with an average 2 bedroom rent being $1,120 per month versus $1,430 in the US as a whole. Similarly, the Grocery Cost Index for Canaan is 107 versus 100 nationally.
There are a number of local amenities and businesses that call Canaan home. Notable companies include Brayton Energy Solutions LLC, which provides electrical engineering services and manufactures power electronic systems; Valley Veterinary Associates which offers comprehensive pet care services; and Delicious Orchards Farm Market & Garden Center providing fresh produce and baked goods to locals. Additionally there are several restaurants and retail outlets including T & L Diner, Sap Bush Hollow Farm Store and Arthur’s Home Furnishings.
Canaan has an unemployment rate of 5.3%. The US average is 6.0%.
Canaan has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 26.3%, which is lower than the US average of 33.5%.
Tax Rates for Canaan
- The Sales Tax Rate for Canaan is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Canaan is 6.5%. 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 $34,238 a year. The US average is $28,555 a year.
- The Median household income of a Canaan resident is $98,472 a year. The US average is $69,021 a year.