Cost of Living in New london, MN
Housing
The housing market plays a significant role in determining the cost of living in New london, MN.
- Housing Index: 90.0 / 100
- Median Home Price is: $266,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1280 per month
Considering a move to New london, MN? With a housing index of 90.0, affordability appears reasonable. The median home price sits at 266000, making homeownership achievable for many. For those preferring rentals, the average rent for a 2-bedroom apartment is 1200, while renting a house averages slightly higher at 1280. It's essential to factor in local amenities, schools, and job opportunities as you weigh your options, especially if you have a family or plan to work remotely. This data suggests a balanced housing market, catering to various lifestyles.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in New london, MN.
- Electricity Price: $16.38 USD (median by state)
- Natural Gas Price: $14.87 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in New london, MN could entail higher utility costs. Electricity costs sit at $16.38, while natural gas is priced at $14.87 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if New london is a financially viable option for your relocation.