Caranoor is a high-end, wealthy suburb. It is located within Caranoor Shire Council. It is known for acting superior to the other suburbs, especially its neighbours Floreat and Laketown, in the United Quadtowns Council. It is linked by a small road, which is being planned as a candidate for another lakeside highway. It is serviced by a train line, which is the expanded Belmont line. To its immediate south lies Floreat. To its north lies the proposed suburb of Kingslake.
It is a mixture of Commercial and Residential, with the residential spaces mainly in the lakeside sector of the suburb, and the commercial zone near the train station.