New London, IA is a small town located in Iowa. It is an ideal city to live in due to its affordable 2 bedroom rent cost of $850 which is much lower than the US average of $1,430. Additionally, the Grocery Cost Index in New London is 93 versus 100 in the US making it a great place for individuals on a budget. Not only is it cost effective but New London also offers many amenities such as local companies such as Bob’s Produce and Smith Hardware. The population of New London IA is around 2,000 people making it a close-knit community perfect for family living.
New London has an unemployment rate of 4.0%. The US average is 6.0%.
New London has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 33.8%, which is higher than the US average of 33.5%.
Tax Rates for New London
- The Sales Tax Rate for New London is 7.0%. The US average is 7.3%.
- The Income Tax Rate for New London is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New London
- The average income of a New London resident is $24,882 a year. The US average is $28,555 a year.
- The Median household income of a New London resident is $58,208 a year. The US average is $69,021 a year.