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City · 6,896 residents · Western Connecticut Planning Region, Connecticut

New Canaan , Connecticut

In New Canaan, a typical home is worth $1,099,400 and typical rent is $3,425 a month. Compared with all of Western Connecticut Planning Region, the typical home value is 68% higher and typical rent is 62% higher.

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  • Typical home value

    $1,099,400

    68% above the planning region

    200% above Connecticut

    • New Canaan
    • Western Connecticut
    • Connecticut

  • Typical rent

    $3,425a month

    62% above the planning region

    130% above Connecticut

    • New Canaan
    • Western Connecticut
    • Connecticut

  • Typical household income

    $146,700a year

    14% above the planning region

    53% above Connecticut

    • New Canaan
    • Western Connecticut
    • Connecticut

  • Households that own their home

    66%

    About the same as the planning region

    About the same as Connecticut

    • New Canaan
    • Western Connecticut
    • Connecticut

Source: U.S. Census Bureau, Average 2020–2024

New Canaan is in Western Connecticut Planning Region. The FHA loan limit ($977,500 for a one-unit home), the fair market rents and the help on this page are those of all of Western Connecticut Planning Region. See the county

Data updated: October 1, 2026 9 official sources

Only here

What sets New Canaan apart

What this place has that others do not, from public data, most unusual first.

  1. The typical home in New Canaan is worth $1,099,400, 68% more than in Western Connecticut Planning Region as a whole ($652,900).

  2. The typical rent in New Canaan is $3,425 a month, 62% more than in Western Connecticut Planning Region as a whole ($2,110).

  3. Nearby, in Norwalk, the typical home value is $558,000: 49% less than in New Canaan ($1,099,400).

  4. Nearby, in Norwalk, the typical rent is $2,073: 39% less than in New Canaan ($3,425).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in New Canaan

What homes there are in New Canaan, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Homes in New Canaan are varied: detached houses are the largest group, at 38%, against 57% in Western Connecticut Planning Region.

Year built

The typical year built in New Canaan is 1968, about the same as in Western Connecticut Planning Region (1971).

Homes in New Canaan are bigger: 71% have 3 bedrooms or more; in Western Connecticut Planning Region, 60%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

Owners with a mortgage

55%

Western Connecticut Planning Region: 67%

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

New Canaan does not have the same boundaries as in 2015–2019: that is why there is no change to compare.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureNew CanaanWestern Connecticut Planning RegionConnecticutUnited States
Rental vacancy Unreliable estimate3.8%4.3%5.5%
Homeowner vacancy Unreliable estimate1.1%0.8%0.9%
More than one person per room Unreliable estimate2.7%2.1%3.4%
People per household 2.512.632.462.53
Drive alone 45%59%69%69%
Carpool Unreliable estimate8%8%9%
Public transit 13%7%3%3%
Walk or bike Unreliable estimate3%3%3%
Work from home 31%22%16%15%
Other means Unreliable estimate1%1%2%
Typical commute 30 to 39 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

A household in New Canaan has 2.51 people on average, about the same as in Western Connecticut Planning Region (2.63).

Many people here do not commute at all: 31% work from home; in Western Connecticut Planning Region, 22%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in New Canaan?

A typical home costs more than the typical income allows

We start with a typical home in New Canaan, worth $1,099,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 76% of the typical household income in New Canaan, which is $146,700 a year. For that payment to be 28% of income, a household would need to earn about $397,187 a year. Note: at that price the loan is above the FHA limit for Western Connecticut Planning Region ($977,500), so FHA would not insure it; the payment is only a reference.

The calculator's FHA and conventional loan limits are those of all of Western Connecticut Planning Region.

Your numbers

Local data
$

Starts at the typical home value in New Canaan. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $38,479 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$9,268

at 7.18% · 30 years

Loan amount
$1,079,487
Total interest
$1,553,129
Paid off in
November 2056

Includes $18,566 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $3,423 a month

  • Tight

    $3,423 to $4,401 a month

  • Hard

    more than $4,401 a month

    Your payment · 76%

Compared with the typical household income in New Canaan ($146,700 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$9,268
Principal & interest$7,313
Property tax$834
Home insurance$458
FHA mortgage insurance (MIP)$663

This loan is over the FHA limit

You'd borrow $1,060,921, but the FHA limit for a one-unit home in New Canaan is $977,500. You'd need a bigger down payment or a different loan.

You need at least $38,479 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

New Canaan and Western Connecticut Planning Region

New Canaan is in Western Connecticut Planning Region, Connecticut. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

New Canaan's own numbers

Typical home value
$1,099,400
Typical monthly rent
$3,425
Typical yearly household income
$146,700
Households that own their home
66%
Effective property tax rate
0.91%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Western Connecticut Planning Region

FHA limit, one-unit home
$977,500
Conventional limit, one unit
$977,500
HUD fair market rent, 2 bedrooms
$2,399
Price change over 5 years (FHFA)
+56%
Homes in a high flood-risk zone
3.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Western Connecticut Planning Region.

Everything about Western Connecticut Planning Region

Buying

Buying a home in New Canaan

A typical home in New Canaan is worth $1,099,400: 68% above the planning region and 200% above Connecticut. With the typical household income in New Canaan ($146,700 a year), a typical home costs 7.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • New Canaan 7.5 years
  • Western Connecticut 5.1 years
  • Connecticut 3.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Western Connecticut Planning Region

According to FHFA’s house price index, home prices in Western Connecticut Planning Region rose 65% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Western Connecticut Planning Region.

Period Region Connecticut U.S.
Last year (2025) +5.8% +6.1% +2.9%
5 years (2020–2025) +56% +62% +47%
10 years (2015–2025) +65% +75% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

New Canaan next to Western Connecticut Planning Region, Connecticut and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • New Canaan $1,099,400
  • Western Connecticut $652,900
  • Connecticut $366,900
  • United States $332,700
Typical monthly rent
  • New Canaan $3,425
  • Western Connecticut $2,110
  • Connecticut $1,488
  • United States $1,413
Typical yearly household income
  • New Canaan $146,700
  • Western Connecticut $128,188
  • Connecticut $95,781
  • United States $80,734
See the full table
New Canaan next to Western Connecticut Planning Region and Connecticut
Measure New Canaan Western Connecticut Planning Region Connecticut U.S.
Typical home value $1,099,400 $652,900 $366,900 $332,700
Typical monthly rent $3,425 $2,110 $1,488 $1,413
Typical yearly household income $146,700 $128,188 $95,781 $80,734
Households that own their home 66% 66% 66% 65%
Typical yearly property tax $10,001 $9,295 $6,643 $3,119
Effective property tax rate 0.91% 1.42% 1.81% 0.94%
Renters with high rent for their income 57% 53% 53% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Western Connecticut Planning Region. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in New Canaan

For a typical $1,099,400 home in New Canaan, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, New Canaan's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $9,268a month

    Above the FHA limit for Western Connecticut Planning Region ($977,500)
    Down payment
    $38,479
    Cash to close
    $71,461
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $663

  • Conventional, 5% down $8,889a month

    Above the conventional limit for Western Connecticut Planning Region ($977,500): it would be a "jumbo" loan
    Down payment
    $54,970
    Cash to close
    $87,952
    Rate
    7.18%
    Mortgage insurance
    PMI · $522

  • Conventional, 20% down, no PMI $7,250a month

    Least cash to close
    Down payment
    $219,880
    Cash to close
    $252,862
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $8,266a month

    Down payment
    $164,910
    Cash to close
    $197,892
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is Conventional, 20% down, no PMI.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for New Canaan and for Western Connecticut Planning Region.

Property tax

Effective rate in New Canaan

0.91%of the home’s value each year

$10,001 a year for the typical owner in New Canaan.

  • New Canaan 0.91%
  • Western Connecticut 1.42%
  • Connecticut 1.81%

What Connecticut publishes Deadline to appeal the assessment: February 20 (Connecticut General Assembly (General Statutes of Connecticut, Chapter 203))

Exemptions and deadlines in Connecticut

Flood risk in Western Connecticut Planning Region

FEMA does not publish these numbers by city: they are for all of Western Connecticut Planning Region.

Homes in the high-risk zone
3.9%
6,453
Of those, with NFIP insurance
57%
Region Connecticut U.S.
Homes in the high-risk zone 3.9% 3.1% 3.5%
Of those, with NFIP insurance 57% 51% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in New Canaan

Typical rent in New Canaan is $3,425 a month: 62% above the planning region. In New Canaan, 57% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Western Connecticut Planning Region, by unit size. To pay the 2-bedroom one ($2,399 a month) without spending more than 30% of your income, you would need to earn $46.13 an hour working full time.

HUD fair market rent for all of Western Connecticut Planning Region

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,671 $32.13 $66,840
1 bedroom $2,071 $39.83 $82,840
2 bedrooms $2,399 $46.13 $95,960
3 bedrooms $2,878 $55.35 $115,120
4 bedrooms $3,573 $68.71 $142,920

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Low-income apartments

Low-income apartments in New Canaan

HUD lists 7 buildings with rents for lower incomes in New Canaan. These are the largest.

  • Canaan Parish 186 Lakeview Ave, New Canaan 06840 100 homes, 60 low-income · For families (203) 966-1150
  • Schoolhouse Apts. New Canaan 156 South Ave, New Canaan 06840 41 homes, 40 low-income · For older adults (203) 248-6809
  • Mill Apts 57 Millport Ave, New Canaan 40 low-income homes · 1 bd: 22 · 2 bd: 13 · 3 bd: 5 · In service since 2010 · For families
  • Millport Phase II 59 and 61 Millport Avenue, New Canaan 40 low-income homes · 1 bd: 18 · 2 bd: 16 · 3 bd: 6 · In service since 2018 · For families
  • Millport Phase I 33 Millport Ave, New Canaan 33 low-income homes · 1 bd: 15 · 2 bd: 12 · 3 bd: 6 · In service since 2016 · For families

See all 142 buildings in Western Connecticut Planning Region Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in New Canaan

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Western Connecticut Planning Region; 1 says it serves in Spanish.

A grandmother pushes her grandson on a playground swing.

HUD counseling is free or low-cost

Assistance programs in New Canaan

No down payment, repair or rent-help program on our list is for New Canaan or Western Connecticut Planning Region. The ones below are statewide in Connecticut: they work in New Canaan the same as in the rest of the state.

Which programs do I qualify for? All programs in Connecticut

Housing counselors near New Canaan

The HUD-approved agencies closest to the center of New Canaan, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Housing Development Fund, Inc

    100 Prospect St, Stamford · 6 miles away · Spanish

    Also serves in Portuguese.

    • Pre-purchase counseling
    • Homebuyer education workshops
    203-969-1830-1010

  • Building Neighborhoods Together, Inc.

    570 State St, Bridgeport · 15 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 11 more
    (203) 290-4255

  • Urban League of Southern Connecticut

    10 Wintergreen Ave, New Haven · 31 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 8 more
    (203) 327-5810

Every agency in Western Connecticut Planning Region All counseling agencies in Connecticut

Help in Spanish near New Canaan

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of New Canaan

In HUD’s record, no housing authority with an office in Western Connecticut Planning Region is named for New Canaan or Western Connecticut Planning Region.

4 other authorities have an office in Western Connecticut Planning Region: see the list Source: HUD

Cities

Other cities in Western Connecticut Planning Region

These cities are also in Western Connecticut Planning Region. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Western Connecticut Planning Region Housing in Connecticut
See 1 more city in Western Connecticut Planning Region, with its price and rent

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to New Canaan, with the typical home value.

Neighboring counties

If Western Connecticut Planning Region is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in New Canaan.

All guides
A family roasts marshmallows over a campfire at a forest campsite.

Questions

Housing questions about New Canaan

Short answers with the numbers for New Canaan and all of Western Connecticut Planning Region. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in New Canaan?

The typical home value in New Canaan is $1,099,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Western Connecticut Planning Region it is $652,900.

How much does it cost to rent in New Canaan?

Typical rent in New Canaan is $3,425 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Western Connecticut Planning Region is $2,399.

What is the FHA loan limit in New Canaan?

New Canaan uses the FHA limit for all of Western Connecticut Planning Region (2026): $977,500 for a one-unit home and $1,879,850 for a four-unit home.

How much property tax do owners pay in New Canaan?

The typical homeowner in New Canaan pays $10,001 a year, according to the U.S. Census Bureau. That is 0.91% of the home’s value; in Western Connecticut Planning Region, the rate is 1.42%.

Where can I find free help to buy or rent in New Canaan?

There is 1 HUD-approved counseling agency with an office in Western Connecticut Planning Region. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).