Canaan median real estate price is $102,447, which is more expensive than 44.1% of the neighborhoods in South Carolina and 25.1% of the neighborhoods in the U.S.
The average rental price in Canaan is currently $484, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 68.7% of South Carolina neighborhoods.
Canaan is a suburban 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 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 between 2000 and the present.
Vacant apartments or homes are a major fact of life in Canaan. The current real estate vacancy rate here is 17.9%. This is higher than the rate of vacancies in 80.8% of all U.S. neighborhoods. This can sometimes be the case in neighborhoods dominated by seasonal homes (such as vacation areas), and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.