Canaan, VT is a small town with a population of approximately 800 people. It is located in northeast Vermont and offers a rural lifestyle with access to amenities such as grocery stores, restaurants, and other local businesses. The cost of living in Canaan is lower than that of the US as a whole; for example, the 2 bedroom rent in Canaan is $850 compared to the US average of $1,430. Similarly, the Grocery Cost Index in Canaan (104) is higher than that of the US (100). Local companies include “Green Mountain Farm & Garden” which sells gardening supplies and “The Corner Store” which provides groceries and convenience items. Overall, Canaan is an affordable place to live with all the amenities one would expect from a small town.
Canaan has an unemployment rate of 4.5%. The US average is 6.0%.
Canaan has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Canaan
- The Sales Tax Rate for Canaan is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Canaan is 6.8%. 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 $20,643 a year. The US average is $28,555 a year.
- The Median household income of a Canaan resident is $52,560 a year. The US average is $69,021 a year.