Housing costs in New London?
A typical home costs
$245,100, which is 27.5% less expensive than the national average of
$338,100 and 32.3% less expensive than the average Connecticut home, at
$362,100. Renting a two-bedroom unit in New London costs
$1,390 per month, which is 2.8% cheaper than the national average of
$1,430 and 19.4% cheaper than the state average of
$1,660.
Can I afford New London?
To live comfortably in New London, Connecticut, a minimum annual income of
$46,800 for a family, and
$44,800 for a single person is recommended.
What does A.I. say about New London?
The cost of living in New London, CT is relatively high compared to the national average. Housing prices are especially expensive, with the median home value around $220,000, which is nearly double the national median. Other expenses such as food and transportation costs are also above average. Despite this, many people still choose to live in New London due to its vibrant culture, growing economy, and access to educational opportunities provided by Connecticut College and the United States Coast Guard Academy.