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Real Estate Prices & Overview

Canaan median real estate price is $287,118, which is more expensive than 57.8% of the neighborhoods in South Carolina and 40.1% of the neighborhoods in the U.S.

The average rental price in Canaan is currently $2,245, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.4% of the neighborhoods in South Carolina.

Canaan is a rural neighborhood (based on population density) located in Spartanburg, South Carolina.

Canaan real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more 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 between 2000 and the present.

In Canaan, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Canaan is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Spartanburg, the Canaan neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Canaan neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

The Neighbors

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 Spartanburg are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 76.1% of U.S. neighborhoods. With 18.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 65.6% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Canaan neighborhood, 32.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 31.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (24.2%), and 12.0% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Canaan neighborhood is English, spoken by 94.0% of households. Other important languages spoken here include Spanish and Italian.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Canaan neighborhood in Spartanburg, SC, residents most commonly identify their ethnicity or ancestry as Irish (12.0%). There are also a number of people of German ancestry (9.3%), and residents who report English roots (7.5%), and some of the residents are also of Polish ancestry (4.1%), along with some Mexican ancestry residents (2.9%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Canaan neighborhood spend between 15 and 30 minutes commuting one-way to work (62.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.7%) 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 (8.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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