Housing costs in New London?
A typical home costs
$155,200, which is 54.1% less expensive than the national average of
$338,100 and 20.4% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in New London costs
$850 per month, which is 40.6% cheaper than the national average of
$1,430 and 9.4% cheaper than the state average of
$930.
Can I afford New London?
To live comfortably in New London, Iowa, a minimum annual income of
$29,880 for a family, and
$27,200 for a single person is recommended.
What does A.I. say about New London?
New London, IA has an affordable cost of living compared to other cities in the United States. According to Best Places, the cost of living index is 85.9, which is 15.1 percent lower than the national average. Housing costs are among the lowest in the nation, with a median home value of $84,000 and average rent prices around $625 per month. Utilities and grocery prices also remain low when compared to other cities across the country. This makes New London a great option for people looking for a budget-friendly place to live without sacrificing quality of life or access to amenities.