Housing costs in New London?
A typical home costs
$231,100, which is 31.6% less expensive than the national average of
$338,100 and 36.2% less expensive than the average Connecticut home, at
$362,100. Renting a two-bedroom unit in New London costs
$1,390 per month, which is 16.3% cheaper than the national average of
$1,660 and 5.0% cheaper than the state average of
$1,460.
Can I afford New London?
To live comfortably in New London (zip 06320), Connecticut, a minimum annual income of
$44,280 for a family, and
$44,800 for a single person is recommended.
What does A.I. say about New London?
The cost of living in 06320 New London, CT is higher than the national average. The median home value is $204,200 which is over 60% higher than the national average. Renting a two bedroom apartment in this area typically costs around $1400 per month and utilities will increase your monthly expenses further. Groceries and other everyday necessities are comparable to the national average, although some items may be slightly more expensive due to the local economy. Transportation costs are also fairly high with an individual bus ride costing $1.15 and taxis charging around $3 per mile for trips within city limits. Overall, living in 06320 New London, CT can be pricey but it is also a beautiful city with amenities that make it worth the extra cost.