New London, CT Cost Of Living
Cost Of Living In New London, CT Summary
Cost of living in New London research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means New London is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Connecticut, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in New London is 108, with 100 being the average.
The cost of living index in New London is 1.1x higher than the national average.
New London ranks as the #17 cheapest in Connecticut out of 56.
New London ranks as the #3,467 cheapest out of 6,489 in the US.
The median home value in New London is $311,986.
The median income in New London is $60,123.
Table Of Contents
New London's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in New London, CT?
According to the most recent data on the cost of living, New London has an overall cost of living index of 108, which is 1.1x higher than the national index of 100.
Compared to Connecticut, New London has a cost of living index that's 0.9x lower than Connecticut's index of 119.
The standard of living in New London ranks as #17 most affordable out of the 56 places we measured in Connecticut. By definition, that implies New London ranks as the #39 most expensive place in the Constitution State.
For more reading on life in New London, check out:
In Connecticut
In America
New London Cost Of Living Vs. Connecticut
Six factors go into calculating the cost of living index in New London. Here is how it fairs on each of the criteria:
The Services index in New London is 110.
The Groceries index in New London is 100.
The Health index in New London is 103.
The Housing index in New London is 103.
The Transportation index in New London is 96.
The Utilities index in New London is 125.
| Living Expense | New London | Connecticut | National Average | |
|---|---|---|---|---|
| Overall | 108 | 119 | 100 | |
| Services | 110 | 109 | 100 | |
| Groceries | 100 | 100 | 100 | |
| Health | 103 | 110 | 100 | |
| Housing | 103 | 137 | 100 | |
| Transportation | 96 | 101 | 100 | |
| Utilities | 125 | 131 | 100 | |
New London, CT Housing Cost Breakdown
Housing swings affordability the most between places in Connecticut, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in New London is $311,986.
The Median Rent in New London is $1,303.
The Median Income in New London is $60,123.
The Home Value To Income in New London is 5.2x.
The Rent To Monthly Income in New London is 0.26x.
| Statistic | New London | Connecticut | United States |
|---|---|---|---|
| Median Home Value | $311,986 | $430,086 | $303,400 |
| Median Rent | $1,303 | $1,431 | $1,348 |
| Median Income | $60,123 | $93,760 | $78,538 |
| Home Value To Income | 5.2x | 4.6x | 3.9x |
| Rent To Monthly Income | 0.26x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
New London, CT Costs By Category
Detailed New London Services Costs Vs. Connecticut
| Item | New London | Connecticut |
|---|---|---|
| Shampoo | $1.42 | $1.28 |
| Movie | $12.85 | $12.13 |
| Bowling | $18.33 | $18 |
| Haircut | $33.78 | $24.26 |
| Beauty Salon | $58.55 | $45.56 |
Detailed New London Groceries Costs Vs. Connecticut
| Item | New London | Connecticut |
|---|---|---|
| Ground Beef | $6.23 | $5.84 |
| Fried Chicken | $1.46 | $1.57 |
| Milk | $4.73 | $4.67 |
| Potatoes | $4.96 | $4.93 |
| Pizza | $10.79 | $12.09 |
| Beer | $10.49 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed New London Health Costs Vs. Connecticut
| Item | New London | Connecticut |
|---|---|---|
| Optometrist | $166.22 | $125.68 |
| Doctor | $182.5 | $135.78 |
| Dentist | $127.0 | $113.29 |
Detailed New London Transportation Costs Vs. Connecticut
| Item | New London | Connecticut |
|---|---|---|
| Gasoline | $3.34 | $3.46 |
| Tire Balancing | $71.63 | $59.92 |
Detailed New London Utilities Costs Vs. Connecticut
| Item | New London | Connecticut |
|---|---|---|
| All Electricity | $302.09 | $193.99 |
| Phone | $185.16 | $192.25 |
New London SnackAbility
/10
Cost Of Living In Cities Around New London
The cost of living varies in the cities and towns around New London. Here's a quick look at the cost of living in the most populous nearby places:
Groton, CT has a cost of living index of 111, 1.0x New London.
| City | Population | Cost Of Living | Vs. New London |
|---|---|---|---|
| Groton, CT | 9,343 | 111 | 1.0x |
