New London, Iowa (population 5,2645) is a small city located in the southeastern part of the state. It has a relatively low cost of living when compared to the rest of the United States, with an average two-bedroom rent of $810 and a grocery cost index of 93 versus 100 in the US. The city is home to many well-known local businesses such as New London Family Restaurant, Main Street Pizza, Southside Motorsports, The Spot Grocery Store, New London Carpets & Interiors and Schafer’s Hardware & Lumber Co. These institutions have been vital to making New London the vibrant community it is today.
New London (zip 52645) has an unemployment rate of 4.0%. The US average is 6.0%.
New London (zip 52645) has seen the job market decrease by -6.1% 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 (zip 52645)
- The Sales Tax Rate for New London (zip 52645) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for New London (zip 52645) 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 (zip 52645)
- The average income of a New London (zip 52645) resident is $25,282 a year. The US average is $37,638 a year.
- The Median household income of a New London (zip 52645) resident is $58,458 a year. The US average is $69,021 a year.