Canaan median real estate price is $244,612, which is more expensive than 50.8% of the neighborhoods in Indiana and 27.5% of the neighborhoods in the U.S.
The average rental price in Canaan is currently $1,320, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.5% of Indiana neighborhoods.
Canaan is a remote neighborhood (based on population density) located in Madison, Indiana.
Canaan real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Canaan neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Canaan has a 11.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.9% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
Uncrowded roads, rural America and space to be the individual you are. If you like these characteristics, this neighborhood may fit you. With just 35 residents per square mile, Canaan is less crowded than 91.9% of all U.S. neighborhoods.
If you're nearing retirement age, or in retirement, the Canaan is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 10.0% of retiree-friendly neighborhoods in Indiana, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Indiana.
Significantly, 3.2% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Canaan neighborhood in Madison are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 73.7% of U.S. neighborhoods. With 10.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 50.9% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Canaan neighborhood, 33.1% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 31.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.9%), and 11.1% in clerical, assistant, and tech support occupations.
The most common language spoken in the Canaan neighborhood is English, spoken by 96.0% of households. Some people also speak German/Yiddish (3.2%).
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Canaan neighborhood in Madison, IN, residents most commonly identify their ethnicity or ancestry as German (26.1%). There are also a number of people of Irish ancestry (15.2%), and residents who report English roots (10.9%), and some of the residents are also of Scottish ancestry (2.7%), along with some Polish ancestry residents (2.2%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Canaan neighborhood spend between 15 and 30 minutes commuting one-way to work (34.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (83.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (11.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.