New London, TX is a great place to live for those looking for an affordable lifestyle. The average two bedroom rent cost in New London is $970, significantly lower than the national average of $1,430. Additionally, grocery costs in New London are around 91 compared to 100 in the US. Local companies such as Walmart and Brookshire Brothers provide quality options for groceries and other goods. Sources: apartmentlist.com & numbeo.com
New London has an unemployment rate of 7.5%. The US average is 6.0%.
New London has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 18.8%, which is lower than the US average of 33.5%.
Tax Rates for New London
- The Sales Tax Rate for New London is 6.3%. The US average is 7.3%.
- The Income Tax Rate for New London is 0.0%. 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 $15,997 a year. The US average is $28,555 a year.
- The Median household income of a New London resident is $48,533 a year. The US average is $69,021 a year.