Cañon, NM
Population 424 · New Mexico
About Cañon, NM
Cañon is a small community located in New Mexico with a population of 424 residents according to the latest US Census Bureau American Community Survey data. The median household income is $97,007 per year, which is 29% above the national median of $75,149. The median age of 12.9 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Cañon features a median home value of $670,500, which is 174% above the national median of $244,900. This places Cañon in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 105 total housing units, 29% are owner-occupied (30 units) and 71% are renter-occupied (75 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Cañon shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Cañon have an average one-way commute time of 0 minutes, one of the shorter commutes in the region.
Education & Demographics
32.7% of Cañon residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 8.7% White, 90.8% Hispanic or Latino, 0.0% Black or African American, and 25.5% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Cañon, NM
Compared to national averages, Cañon has a median household income of $97,007 (29% above the national median of $75,149). Home values average $670,500, which is 174% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New Mexico, Cañon's income is 44% above the state average of $67,435, and home values are 187% above the state median of $233,762.
Why Live in Cañon, NM?
Cañon offers a strong local economy with a median household income of $97,007, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 0.0%, better than the national average, and short commute times averaging just 0 minutes.
Potential considerations include a competitive housing market where the typical home costs $670,500. However, Cañon’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Cañon has a population of 424 with a median age of 12.9 years. Compare Cañon with other cities to see how it stacks up, or explore all cities in New Mexico.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Cañon
What is the population of Cañon, NM?
The population of Cañon, NM is 424 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New Mexico.
What is the median household income in Cañon?
The median household income in Cañon, NM is $97,007 per year, which is 29% above the national median of $75,149.
What is the median home value in Cañon?
The median home value in Cañon, NM is $670,500, which is 174% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Cañon?
The median monthly rent in Cañon, NM is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Cañon?
The unemployment rate in Cañon, NM is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Cañon, NM a good place to live?
Cañon offers above-average incomes, a competitive housing market, and a strong job market. With a population of 424 and a median age of 12.9, the city appeals to young professionals and families.
How educated is Cañon, NM?
32.7% of residents in Cañon 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 Cañon?
Key cost-of-living indicators for Cañon, NM: median home value is $670,500 (174% above national), median rent is $0/month, and median household income is $97,007. The home-value-to-income ratio is 6.9x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Cañon?
The poverty rate in Cañon, NM is 0.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Cañon, NM?
Cañon's population is 8.7% White, 90.8% Hispanic or Latino, 0.0% Black or African American, 25.5% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.