Cañon, CO

Very Low · 73

Colorado · Population 17,098 · Updated March 2026

$931
Median Rent / Month
$66,068
Median Income
$275,300
Median Home Value
$941
Owner Costs / Month

Affordability

How far your income goes in Cañon

16.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Colorado

State-level tax rates that affect your costs

4.4%
Income Tax (Top Rate)
2.9%
Sales Tax
0.51%
Property Tax Rate

Estimated Annual Costs

$11,172
Annual Rent
$2,907
State Income Tax
$1,404
Property Tax (est.)

Cost of Living Overview

Cañon is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 73 (where 100 equals the national median), Cañon residents can expect to pay median rent of $931/month while earning a median household income of $66,068/year.

The median home value in Cañon, CO is $275,300, with typical monthly owner costs around $941 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Colorado has a moderate income tax rate of 4.4%. Combined with a 2.9% sales tax rate and 0.51% effective property tax rate, the overall tax environment is a factor in the total cost of living in Cañon.

Frequently Asked Questions

Common questions about living costs in Cañon

What is the cost of living in Cañon, CO?
The cost of living index in Cañon, CO is 73 (US average = 100). Median monthly rent is $931, median household income is $66,068/year, and the median home value is $275,300.
Is Cañon, CO affordable?
Yes, Cañon is more affordable than the national average with a cost index of 73. The rent-to-income ratio is 16.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cañon, CO?
The median gross rent in Cañon, CO is $931 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,172.
What is the median household income in Cañon?
The median household income in Cañon, CO is $66,068 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Colorado?
Colorado has a top income tax rate of 4.4%, a sales tax of 2.9%, and an effective property tax rate of 0.51%.