New London, Minnesota is a small town with a population of around 562. This quaint town is known for its friendly people and peaceful living. The average two-bedroom rent in New London is $830, lower than the U.S. average of $1,430. Grocery cost index is also lower, with 98 compared to the national average of 100. People looking for affordability combined with a strong sense of community will find New London to be ideal for their needs. Local companies in New London include Orr Motors, K&K Construction Equipment Co., and Great Northern Bus Lines. There are also plenty of job opportunities available in the area for those looking to relocate or stay close to home, such as retail clerk positions at Coborn's Superstore and jobs as food service assistants at St John Lutheran Home & Services.
New London (zip 56273) has an unemployment rate of 4.9%. The US average is 6.0%.
New London (zip 56273) has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 37.1%, which is higher than the US average of 33.5%.
Tax Rates for New London (zip 56273)
- The Sales Tax Rate for New London (zip 56273) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New London (zip 56273) is 7.1%. 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 56273)
- The average income of a New London (zip 56273) resident is $37,143 a year. The US average is $37,638 a year.
- The Median household income of a New London (zip 56273) resident is $81,141 a year. The US average is $69,021 a year.