Housing costs in Norwich-New London?
A typical home costs $320,100
, which is 5.3% less expensive than the national average of $338,100
and 11.6% less expensive than the average Connecticut home, at $362,100
. Renting a two-bedroom unit in Norwich-New London costs $1,460
per month, which is 2.1% cheaper than the national average of $1,430
and 13.7% cheaper than the state average of $1,660
Can I afford Norwich-New London?
To live comfortably in Norwich-New London Connecti Metro Area, Connecticut, a minimum annual income of $61,200
for a family, and $47,200
for a single person is recommended.
What does A.I. say about Norwich-New London?
The cost of living in the Norwich-New London, CT Metro Area is 6.3% higher than the US average. This means that goods and services in this area are generally more expensive than they are in other parts of the country. Although the median house value is lower than the US average, residents must consider how much they will need to spend day-to-day on items such as food, clothing, health care and transportation when considering relocating to this area. Even though it may be a bit pricier, Norwich-New London offers many attractive qualities and amenities for its residents so it can still be worth making the move.