Canaan, CT 06018 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Canaan, CT—06018

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$332,000

0.5% YoY Growth

Household Income

$56,300

14.3% YoY Growth

Days on Market

37.0% Shorter YoY

Home Price Forecast

4.0%

Median Rent

$4,500

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$4,500

N/A

Other Zip Codes in Canaan, CT

06031 06024

Home Price Trends — Canaan, CT

As of Dec '25, the median home price in Canaan, CT is $332,000, with a year-over-year change of -0.5%. This indicates that home prices in Canaan, CT are flat. According to Zillow, the 1-year price projection is 4.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$332,000	-0.5%
Single Family	$335,000	-0.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Canaan, CT

Canaan, CT lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	$4,500	$4,500
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	$4,500	$4,500
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

2.9%

1 Bedroom

18.1%

2 Bedrooms

61.7%

3 Bedrooms

13.4%

4 Bedrooms

3.9%

Property Listings — Canaan, CT

As of Dec '25, Realtor.com reports that the median days on market for a home in Canaan, CT is 53. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$330,000	-8.0%
Listing Count	9	32.0%
Listings as % of Homes	0.8%	32.0%
Days on Market	69	-37.0%

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Demographics — Canaan, CT

As of the latest ACS Survey released in 2023, Canaan, CT has a population of 2,630, which has decreased by -8.8% over the past 5 years. Canaan, CT is a popular place for families, as children make up 28.7% of the population. The area has a poorly educated workforce, with 24.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	2,630	-8.8%
% Under 18	28.7%	75.0%
% Seniors	18.2%	-20.9%
% WFH	12.6%	260.0%
% w/ College Degree	24.8%	5.5%

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As of the latest ACS Survey released in 2023, Canaan, CT is a predominantly white area, with 80.9% of the population identifying as white. The white population has shrunk by 10.0% in the last 5 years. The second most common race or ethnicity in Canaan, CT is hispanic, making up 13.6% of the population. Foreign-born residents account for 7.7% of the population in Canaan, CT, and this percentage has increased by 14.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	80.9%	-10.0%
% Black	0.0%	-100.0%
% Hispanic	13.6%	156.6%
% Asian	0.0%	N/A
% Foreign Born	7.7%	14.9%

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Mortgage and Risk — Canaan, CT

According to HUD data as of 2023, there were 41 mortgage originations in Canaan, CT, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Canaan, CT. Investor activity is low, as 5.0% of loans were by investors. 22.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	41
% Conventional Loans	78.0%
% Government Loans	22.0%
% Investor Loans	5.0%
% Second Loans	0.0%
% Cash Out Refinance	22.0%

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Rentals and Section 8 — Canaan, CT

Canaan, CT lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	71
Total Units Section 8	37
% Rentals under Section 8	N/A
% Occupied Section 8	90.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$1,210
2 Bedroom	N/A	N/A	$1,500
3 Bedroom	-$2,620	$4,500	$1,880
4 Bedroom	N/A	N/A	$2,140

Canaan, CT—06018

Key Metrics at a Glance

Other Zip Codes in Canaan, CT

Home Price Trends — Canaan, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Canaan, CT

% of Rental Stock

Property Listings — Canaan, CT

Demographics — Canaan, CT

Race and Ethnicity

Mortgage and Risk — Canaan, CT

Mortgages

Rentals and Section 8 — Canaan, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Canaan, CT

Home Price to Income Ratio

Canaan, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Canaan, CT

Sheffield, MA

Canaan, CT

Southfield, MA

Mill River

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.9
Median Home Price	$332,000
Median Household Income	$56,300

Canaan, CT—06018

Key Metrics at a Glance

Other Zip Codes in Canaan, CT

Home Price Trends — Canaan, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Canaan, CT

% of Rental Stock

Property Listings — Canaan, CT

Demographics — Canaan, CT

Race and Ethnicity

Mortgage and Risk — Canaan, CT

Mortgages

Rentals and Section 8 — Canaan, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Canaan, CT

Home Price to Income Ratio

Canaan, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Canaan, CT

Sheffield, MA

Canaan, CT

Southfield, MA

Mill River

Frequently Asked Questions

What is the average home price in Canaan, CT 06018?

How have home prices in Canaan, CT 06018 changed over the past year?

What is the home price projection for Canaan, CT 06018?

What are the demographics of Canaan, CT 06018?

How long does it take homes to sell in Canaan, CT 06018?

What is the average rent price in Canaan, CT 06018?