Canaan, NY—12029
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Canaan, NY
As of Oct '25, the median home price in Canaan, NY is $525,000, with a year-over-year change of 1.1%. This indicates that home prices in Canaan, NY are increasing. According to Zillow, the 1-year price projection is 3.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $525,000 | 1.1% |
| Single Family | $524,000 | 0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $397,000 | -0.7% |
3 Bed | $535,000 | 0.9% |
4 Bed | $651,000 | 3.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Canaan, NY
As of July '25, Rentcast reports the average rent in Canaan, NY is $2,280, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Canaan, NY is 1-bedrooms: $1,360, 3-bedrooms: $3,200. The most common rental property sizes in Canaan, NY are 2-bedroom and 3-bedroom, accounting for 57.3% and 36.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,360 | $2,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,360 | $1,360 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $3,200 | $3,200 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Canaan, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Canaan, NY is 100. 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $912,000 | 40.0% |
Listing Count | 27 | 71.0% |
| Listings as % of Homes | 0.9% | 71.0% |
Days on Market | 100 | -5.0% |
Demographics — Canaan, NY
As of the latest ACS Survey released in 2023, Canaan, NY has a population of 1,020, which has decreased by -7.9% over the past 5 years. Canaan, NY is a less popular place for families, as children make up 12.5% of the population. The area has a highly educated workforce, with 47.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,020 | -7.9% |
% Under 18 | 12.5% | -37.8% |
% Seniors | 33.1% | 16.1% |
% WFH | 26.0% | 154.9% |
% w/ College Degree | 47.3% | -0.8% |
As of the latest ACS Survey released in 2023, Canaan, NY is a predominantly white area, with 91.0% of the population identifying as white. The white population has grown by 2.7% in the last 5 years. The second most common race or ethnicity in Canaan, NY is black, making up 4.7% of the population. Foreign-born residents account for 3.6% of the population in Canaan, NY, and this percentage has increased by 5.9% 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 | 91.0% | 2.7% |
% Black | 4.7% | 56.7% |
% Hispanic | 0.4% | -94.5% |
% Asian | 0.1% | -80.0% |
% Foreign Born | 3.6% | 5.9% |
Mortgage and Risk — Canaan, NY
According to HUD data as of 2023, there were 36 mortgage originations in Canaan, NY, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Canaan, NY. Investor activity is low, as 3.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 36 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 3.0% |
% Second Loans | 14.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Canaan, NY
Canaan, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,360 | $1,300 |
| 2 Bedroom | N/A | N/A | $1,480 |
| 3 Bedroom | -$1,420 | $3,200 | $1,780 |
| 4 Bedroom | N/A | N/A | $1,960 |
Affordability — Canaan, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $525,000 |
| Median Household Income | $104,000 |