New London, CT County is a great place to live with its close proximity to the ocean and its low rent costs. The average 2 bedroom rent in New London, CT County is $1,460 per month, which is more affordable than the US average of $1,430. Additionally, grocery cost index in New London is 106 versus the US at 100. This means that groceries are slightly more expensive on average in New London. Local companies include Waterford Technologies, Electric Boat Corporation and SolarEdge Technologies. All three companies provide different kinds of services to locals in New London and they are all dedicated to improving the local economy.
New London County has an unemployment rate of 9.2%. The US average is 6.0%.
New London County has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 31.1%, which is lower than the US average of 33.5%.
Tax Rates for New London County
- The Sales Tax Rate for New London County is 6.4%. The US average is 7.3%.
- The Income Tax Rate for New London County is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New London County
- The average income of a New London County resident is $34,241 a year. The US average is $28,555 a year.
- The Median household income of a New London County resident is $79,040 a year. The US average is $69,021 a year.