Cost of Living: New london, CT vs Socorro, NM
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | New london | Socorro |
|---|---|---|
| Housing Index | 120.0 | 95.0 |
| Median Home Price | $258,000 | $209,000 |
| Average Rent (2 BR Apartment) | $1800 | $1200 |
| Average Rent (2 BR House) | $1900 | $1300 |
Housing Comparison: New london vs Socorro
- In New london, the median home price is higher at $258,000, while in Socorro it is $209,000.
- Renting a two-bedroom apartment costs more in New london at $1,800 than in Socorro at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | New london | Socorro |
|---|---|---|
| Electricity Price | $26 | $14.44 |
| Natural Gas Price | $Data is updating | $Data is updating |
| Other Utilities | $200 | $200 |
Utilities Comparison: New london vs Socorro
- Electricity costs are higher in New london at $26 per kWh, compared to $14.44 in Socorro.
- Natural gas price data is currently unavailable.
- Utility expenses are equal in both New london and Socorro averaging $200.