salaryRent here is among the highest 10% in the country. Household incomes are higher than in 91% of U.S. cities. A typical house costs about 6.9 years of household income, so buying is hard for most locals. Commutes are long, about 38.5 minutes each way. It is a highly educated city: 74.7% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $140,040 a year. That is $67 an hour at a full-time job.
Is rent cheaper than other Connecticut cities?
No. Rent here is more expensive than in most of Connecticut. It is number 62 of 64 cities from cheapest to most expensive.
How much do households earn in New Canaan?
Share of households by yearly income. 57.6% of households earn $100,000 or more.
Rent by apartment size in New Canaan
| Size | New Canaan | U.S. average |
|---|---|---|
| Studio | $1,604 | $1,338 |
| 1 bedroom | $3,702 | $1,324 |
| 2 bedrooms | $3,500+ | $1,509 |
| 3 bedrooms | $3,500+ | $1,698 |
| 4 bedrooms | $3,500+ | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is New Canaan overall?
Everyday prices in Connecticut overall are 4% above the U.S. average (index 103.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for New Canaan, so the Connecticut figure is shown.
Taxes and bills in New Canaan
Life in New Canaan
Is it cheaper to rent or buy in New Canaan?
Renting is cheaper right now: about $4,127 a month less.
Owning assumes a typical $1,099,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $109,940 for the down payment.
Frequently asked questions
What is the average rent in New Canaan, CT?
Renting in New Canaan costs a median of about $3,500+ a month in 2026, including utilities. The Connecticut median is $1,920.
How much do I need to make to live in New Canaan?
To keep rent under 30% of income, you need about $140,040 a year, or $67 an hour at a full-time job.
Is New Canaan cheap or expensive?
New Canaan is rated OK: rent takes 26.6% of the typical household income of $158,216. It ranks 62nd cheapest of 64 Connecticut cities we track.
How much are property taxes in New Canaan?
The median homeowner in New Canaan pays $10,000+ a year in property taxes, about 0.91% of the median home value.
Is New Canaan more expensive than the national average?
Overall prices in Connecticut are 4% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in New Canaan?
The median home value in New Canaan is $1,099,400, about 6.9 times the typical yearly household income.
6,896 people live in New Canaan. Numbers are typical (middle) values.