Cost of Living in New London, CT
Population 27,199 · Connecticut · Data vintage 2023
(100 = US avg)
New London lands reasonably close to national benchmarks on most cost indicators, with a median home value of $235,000 — 23% below the US figure. That makes it a useful reference point for comparing with more extreme markets in Connecticut. At 7.3%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
New London is about 45 miles southeast of Hartford, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 8% higher than Hartford's $217,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in New London
The median home value in New London is $234,800 — 23% below the national median of $305,000. Median rent runs $1,303/month, 1% lower than the national median of $1,314/month. The median household income of $60,123/year is 19% lower than the US median of $74,580. The local unemployment rate is 7.3%, above the national average of 4.8%. Connecticut's top state income tax rate is 7.0% and the combined sales tax is 6.3%. Overall, New London has a cost of living index of 86 versus the US average of 100, meaning it is 14% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in New London, CT?
New London has a cost index of 86 (100 = national average). It is 14% below the national average.
What is average rent in New London, CT?
The median gross rent in New London is $1,303 per month based on 2023 Census data.
What is the average home price in New London?
The median home value in New London is $234,800 according to Zillow and Census data.
What is the median income in New London?
The median household income in New London is $60,123 per year (2023 ACS 5-year estimates).
What is the sales tax in New London, CT?
The combined state and local sales tax rate in New London is 6.3%. The Connecticut state income tax top rate is 7.0%.
Is New London, CT affordable?
Yes, New London is generally considered affordable, with a cost of living index of 86 — about 14% below the US national average of 100.
New London at a Glance
- Population
- 27,199
- Median Income
- $60,123
- Home Value
- $234,800
- Median Rent
- $1,303/mo
- Unemployment
- 7.3%
- Sales Tax
- 6.3%
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Connecticut Rankings
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