Cost of Living in New London, CT
Population: 27,199 • 2026 Data
$60,123
Median Household Income
-22% vs national
$1,303
Median Monthly Rent
-3% vs national
$234,800
Median Home Value
-31% vs national
6.7%
Unemployment Rate
Housing in New London
The median home value in New London, CT is $234,800. Monthly rent for a typical unit averages $1,303, while total monthly housing costs (including utilities and insurance) average $1,364.
Rent-to-income ratio: 26.0%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in New London, CT is $60,123. The unemployment rate stands at 6.7%, with a labor force of 14,956 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.