The typical owner-occupied home in Canaan is worth about $275,000, 32% below the New Hampshire median of $402,500 and 17% below the national median of $332,700. Owners pay a median $6,490 a year in property taxes, about 2.36% of their home's value, higher than the New Hampshire rate of 1.66%. 27% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Canaan at a glance
| Canaan | New Hampshire | U.S. | |
|---|---|---|---|
| Median home value | $275,000 | $402,500 | $332,700 |
| Median property tax paid per year | $6,490 | $6,667 | $3,119 |
| Property tax as a share of value | 2.36% | 1.66% | 0.94% |
| Median household income | – | $99,031 | $80,734 |
| Homes lived in by their owners | 27% | 73% | 65% |
| Owner homes with a mortgage | 28% | 62% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,367 | $1,963 |
| Median rent | $1,097 | $1,491 | $1,413 |
| Rent as a share of renters' income | 44.4% | 29.4% | 30.6% |
| Median year homes were built | 1947 | 1979 | 1980 |
| Vacant homes | 43.6% | 14.3% | 10.1% |
| Population | 257 | 1,394,868 | 334,922,499 |
What a typical home costs per month in Canaan
At this week's average 30-year rate of 7.11%, buying the median Canaan home of $275,000 with 20% down costs about $2,135 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,593, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $91,516 for the 20%-down payment.
The median rent here is $1,097 a month, so owning the median home costs about $1,038 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $55,000 |
|---|---|
| Loan amount | $220,000 |
| Principal and interest | $1,480 |
| Property taxes (2.36% a year) | $541 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| PMI | $0 |
| Total per month | $2,135 |
Change the numbers in the calculator
| Down payment | $9,625 |
|---|---|
| Loan amount | $270,019 |
| Principal and interest | $1,816 |
| Property taxes (2.36% a year) | $541 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| FHA mortgage insurance | $122 |
| Total per month | $2,593 |
Change the numbers in the calculator
Questions about home buying in Canaan
What is the median home value in Canaan?
About $275,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Canaan?
Homeowners pay a median $6,490 a year, which is about 2.36% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Canaan?
For the median home with 20% down at 7.11%, the payment is about $2,135 a month. Keeping that under 28% of gross income takes about $91,516 a year.
More about Canaan
- Mortgage Refinance in Canaan
- Debt Relief in Canaan
- Home Equity Loans in Canaan
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data