Canaan, Connecticut (06018) is a pleasant town with a population of over 800 residents. It offers an affordable cost of living compared to the US average as evidenced by the 2 bedroom rent which is just $1,360—much lower than the US average of $1,430. Grocery shopping is also more cost-effective in Canaan because the Grocery Cost Index stands at 105 compared to 100 in the US.
Canaan is home to many businesses including Olde Mistick Village, Country Landscaping LLC and Town & Country Builders Inc., as well as grocery stores like Stop & Shop and Big Y Supermarket. There are also plenty of recreational activities for residents to enjoy such as hiking trails at Pomeraug State Park and swimming at Hall Memorial Pool.
Canaan (zip 06018) has an unemployment rate of 7.9%. The US average is 6.0%.
Canaan (zip 06018) 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 (zip 06018)
- The Sales Tax Rate for Canaan (zip 06018) is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Canaan (zip 06018) 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 (zip 06018)
- The average income of a Canaan (zip 06018) resident is $40,450 a year. The US average is $37,638 a year.
- The Median household income of a Canaan (zip 06018) resident is $52,054 a year. The US average is $69,021 a year.