Canaan, VT
Population 305 · Vermont
About Canaan, VT
Canaan is a small community located in Vermont with a population of 305 residents according to the latest US Census Bureau American Community Survey data. The median household income is $56,250 per year, which is 25% below the national median of $75,149. The median age of 51.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Canaan features a median home value of $118,000, which is 52% below the national median of $244,900. This makes Canaan one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $742, 36% below the national average of $1,163/month. Of the 160 total housing units, 74% are owner-occupied (104 units) and 26% are renter-occupied (36 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Canaan shows an unemployment rate of 12.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 8.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Canaan have an average one-way commute time of 20.1 minutes.
Education & Demographics
13.0% 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 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 9.5% of the population being foreign-born.
How Canaan Ranks in Vermont
Cost of Living in Canaan, VT
Compared to national averages, Canaan has a median household income of $56,250 (25% below the national median of $75,149). Home values average $118,000, which is 52% below the national median. Monthly rent at $742 is 36% below the US average of $1,163. Within Vermont, Canaan's income is 23% below the state average of $72,974, and home values are 54% below the state median of $255,863.
Why Live in Canaan, VT?
Canaan offers affordable housing with a median home value of $118,000, below the US average of $244,900, and rent that’s lower than the national average at $742/month, and a low poverty rate of 8.9%, better than the national average. Additionally, the city features short commute times averaging just 20.1 minutes.
Potential considerations include median household income ($56,250) 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 305 with a median age of 51.7 years. Compare Canaan with other cities to see how it stacks up, or explore all cities in Vermont.
Similar Cities Near Canaan
Cities in Vermont with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Pawlet | 306 | $53,000 | $275,000 | Compare |
| Greensboro Bend | 308 | $88,281 | $244,800 | Compare |
| Proctorsville | 309 | $64,167 | $225,000 | Compare |
| West Pawlet | 301 | $0 | $119,900 | Compare |
| Readsboro | 299 | $43,472 | $160,400 | Compare |
| East Dorset | 297 | $0 | $0 | Compare |
| Quechee | 297 | $0 | $324,700 | Compare |
| Cavendish | 316 | $117,500 | $246,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Vermont
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, VT?
The population of Canaan, VT is 305 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Vermont.
What is the median household income in Canaan?
The median household income in Canaan, VT is $56,250 per year, which is 25% below the national median of $75,149.
What is the median home value in Canaan?
The median home value in Canaan, VT is $118,000, which is 52% 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, VT is $742, which is 36% below the national average of $1,163/month.
What is the unemployment rate in Canaan?
The unemployment rate in Canaan, VT is 12.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Canaan, VT a good place to live?
Canaan offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 305 and a median age of 51.7, the city appeals to established professionals and retirees.
How educated is Canaan, VT?
13.0% 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, VT: median home value is $118,000 (52% below national), median rent is $742/month, and median household income is $56,250. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Canaan?
The poverty rate in Canaan, VT is 8.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Canaan, VT?
Canaan's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 9.5% of residents are foreign-born.