Canaan, CT
Population 1,297 · Connecticut
About Canaan, CT
Canaan is a small town located in Connecticut with a population of 1,297 residents according to the latest US Census Bureau American Community Survey data. The median household income is $31,986 per year, which is 57% below the national median of $75,149. The median age of 39.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Canaan features a median home value of $170,700, which is 30% below the national median of $244,900. This positions Canaan in a moderately priced market relative to the rest of the country. Median monthly rent is $1,321, 14% above the national average of $1,163/month. Of the 657 total housing units, 61% are owner-occupied (350 units) and 39% are renter-occupied (228 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Canaan shows an unemployment rate of 12.0%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 34.5%, above the national average of 12.4%. Workers in Canaan have an average one-way commute time of 17.1 minutes, one of the shorter commutes in the region.
Education & Demographics
23.0% of Canaan residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 22.8% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 3.8% Asian residents, with 12.3% of the population being foreign-born.
How Canaan Ranks in Connecticut
Cost of Living in Canaan, CT
Compared to national averages, Canaan has a median household income of $31,986 (57% below the national median of $75,149). Home values average $170,700, which is 30% below the national median. Monthly rent at $1,321 is 14% above the US average of $1,163. Within Connecticut, Canaan's income is 74% below the state average of $123,065, and home values are 67% below the state median of $516,920.
Why Live in Canaan, CT?
Canaan offers affordable housing with a median home value of $170,700, below the US average of $244,900, and short commute times averaging just 17.1 minutes.
Potential considerations include median household income ($31,986) that falls below the national average. However, Canaan’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Canaan has a population of 1,297 with a median age of 39.6 years. Compare Canaan with other cities to see how it stacks up, or explore all cities in Connecticut.
Similar Cities Near Canaan
Cities in Connecticut with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lakes East | 1,295 | $211,728 | $563,900 | Compare |
| South Woodstock | 1,294 | $88,182 | $248,500 | Compare |
| Lakes West | 1,308 | $244,286 | $693,200 | Compare |
| Litchfield | 1,274 | $107,024 | $378,900 | Compare |
| Baltic | 1,266 | $89,907 | $202,000 | Compare |
| Darien Downtown | 1,329 | $166,111 | $908,200 | Compare |
| Canton Valley | 1,364 | $88,028 | $354,900 | Compare |
| Wauregan | 1,209 | $90,625 | $240,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Connecticut
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Canaan With Other Cities
Frequently Asked Questions about Canaan
What is the population of Canaan, CT?
The population of Canaan, CT is 1,297 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Connecticut.
What is the median household income in Canaan?
The median household income in Canaan, CT is $31,986 per year, which is 57% below the national median of $75,149.
What is the median home value in Canaan?
The median home value in Canaan, CT is $170,700, which is 30% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Canaan?
The median monthly rent in Canaan, CT is $1,321, which is 14% above the national average of $1,163/month.
What is the unemployment rate in Canaan?
The unemployment rate in Canaan, CT is 12.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Canaan, CT a good place to live?
Canaan offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,297 and a median age of 39.6, the city appeals to a broad range of residents.
How educated is Canaan, CT?
23.0% of residents in Canaan aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Canaan?
Key cost-of-living indicators for Canaan, CT: median home value is $170,700 (30% below national), median rent is $1,321/month, and median household income is $31,986. The home-value-to-income ratio is 5.3x, a moderate figure by national standards.
What is the poverty rate in Canaan?
The poverty rate in Canaan, CT is 34.5%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Canaan, CT?
Canaan's population is 22.8% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 3.8% Asian, and 0.0% two or more races. 12.3% of residents are foreign-born.