C-
Overall 0%
Goods & Services 2%
Housing 0%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexCanaanIndianaNational
Cost of living10089100
Goods & Services10297100
Groceries9792100
Health care10394100
Housingn/a72100
Transportation111100100
Utilities8799100

Key findings

  • The cost of living in Canaan is 12% higher than the Indiana average
  • The cost of living in Canaan is equal to the national average
  • Canaan housing is 22% lower than the national average
  • Indiana general sales tax is 37% higher than the national average
  • Indiana state income tax is 31% higher than the national average

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Compare Canaan, IN Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$24,107$2,009$562$723
      Renters$0$0$0$0

      Indiana Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Indiana7%7%

      Indiana Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Indiana3.23%3.23%

      Goods & Services

      ItemCanaanNational avg.Difference
      Haircut $16.73$17.494.3%
      Beauty Salon $32.80$38.1714.1%
      Toothpaste $1.96$2.3215.6%
      Shampoo $0.90$1.0111.1%
      Movie $12.92$10.7220.5%
      Bowling $14.20$13.862.4%

      Groceries

      ItemCanaanNational avg.Difference
      Ground Beef $3.41$3.9012.6%
      Fried Chicken $1.16$1.4016.9%
      Milk $1.09$1.9644.5%
      Potatoes $3.86$3.1821.3%
      Pizza $9.99$10.393.9%
      Beer $8.31$9.2310.0%

      Health Care

      ItemCanaanNational avg.Difference
      Optometrist $92.30$106.3413.2%
      Doctor $118.82$115.253.1%
      Dentist $107.00$98.388.8%
      Ibuprofen $8.03$9.2613.3%
      Lipitor $491.32$466.475.3%

      Housing

      ItemCanaanNational avg.Difference
      Home Price $0.00$184,700.00100.0%
      Avg. Mortgage Payment $987.35$1,273.3222.5%
      Apartment Rent $0.00$949.00100.0%

      Transportation

      ItemCanaanNational avg.Difference
      Gasoline $2.93$2.5913.0%
      Tire Balancing $54.59$48.9011.6%

      Utilities

      ItemCanaanNational avg.Difference
      All Electricity$133.62$167.6020.3%
      Phone $176.25$163.427.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City, StatePopulationCost of Living IndexNational Avg.
      Kent, IN9099-1%
      Butlerville, IN18880-20%
      Vevay, IN1,47386-14%
      Dupont, IN28485-15%
      Hanover, IN3,52585-15%
      Canaan, IN581000%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Mount Eagle, PA5890-10%
      Brimson, MO5878-22%
      Hamlin, KS5870-30%
      Spring Hill, MN5890-10%
      Apache Creek, NM5896-4%
      Canaan, IN581000%
      Source: The Canaan, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.