salaryRent is higher than in 54% of U.S. cities. A typical house costs about 4.0 years of household income. Commutes are short, about 19.2 minutes. Most households rent (64%), so there are plenty of rental options.
How much money do I need?
To rent here comfortably, you should earn about $69,440 a year. That is $33 an hour at a full-time job.
Is rent cheaper than other Connecticut cities?
Yes. Rent here is cheaper than in most of Connecticut. It is number 26 of 64 cities from cheapest to most expensive.
How much do households earn in New London?
Share of households by yearly income. 17.7% of households earn $100,000 or more.
Rent by apartment size in New London
| Size | New London | U.S. average |
|---|---|---|
| Studio | $914 | $1,338 |
| 1 bedroom | $1,342 | $1,324 |
| 2 bedrooms | $1,572 | $1,509 |
| 3 bedrooms | $1,669 | $1,698 |
| 4 bedrooms | $2,461 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is New London overall?
Everyday prices in the Norwich-New London-Willimantic metro area are same as the U.S. average (index 100.4, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in New London
Life in New London
What jobs pay in New London
| Job | Median pay | Rent / pay |
|---|---|---|
| Pharmacist | $146,900 | 14.2% |
| Physician Assistant | $140,030 | 14.9% |
| Nurse Practitioner | $135,930 | 15.3% |
| Lawyer | $128,040 | 16.3% |
| Operations Manager | $126,870 | 16.4% |
| Software Developer | $123,780 | 16.8% |
| Civil Engineer | $103,430 | 20.1% |
| Computer Systems Analyst | $101,360 | 20.6% |
| Registered Nurse | $101,330 | 20.6% |
| Dental Hygienist | $98,630 | 21.1% |
| Elementary School Teacher | $83,840 | 24.8% |
| Accountant | $82,530 | 25.2% |
| Police Officer | $79,580 | 26.2% |
| Plumber | $76,980 | 27.1% |
| Licensed Practical Nurse | $75,610 | 27.6% |
| HVAC Technician | $74,990 | 27.8% |
| Electrician | $72,240 | 28.8% |
| Carpenter | $64,500 | 32.3% |
| Firefighter | $62,850 | 33.1% |
| Market Research Analyst | $62,700 | 33.2% |
| Truck Driver | $60,320 | 34.5% |
| Medical Assistant | $46,760 | 44.6% |
| Customer Service Representative | $45,020 | 46.3% |
| Nursing Assistant | $44,210 | 47.1% |
| Warehouse Worker | $41,910 | 49.7% |
| Restaurant Cook | $38,180 | 54.6% |
| Server (Waiter/Waitress) | $37,880 | 55.0% |
| Retail Salesperson | $35,740 | 58.3% |
| Cashier | $35,010 | 59.5% |
Is it cheaper to rent or buy in New London?
About the same. Renting and owning cost within $22 of each other each month.
Owning assumes a typical $253,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $25,330 for the down payment.
Frequently asked questions
What is the average rent in New London, CT?
Renting in New London costs a median of about $1,736 a month in 2026, including utilities. The Connecticut median is $1,920.
How much do I need to make to live in New London?
To keep rent under 30% of income, you need about $69,440 a year, or $33 an hour at a full-time job.
Is New London cheap or expensive?
New London is rated Expensive: rent takes 32.7% of the typical household income of $63,737. It ranks 26th cheapest of 64 Connecticut cities we track.
How much are property taxes in New London?
The median homeowner in New London pays $4,977 a year in property taxes, about 1.96% of the median home value.
Is New London more expensive than the national average?
Overall prices in the metro area are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in New London?
The median home value in New London is $253,300, about 4.0 times the typical yearly household income.
27,625 people live in New London. Numbers are typical (middle) values.