Cost of Living in New london, CT
Housing
The housing market plays a significant role in determining the cost of living in New london, CT.
- Housing Index: 120.0 / 100
- Median Home Price is: $258,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1900 per month
Considering a move to New london, CT? With a housing index of 120.0, the market leans toward affordability relative to national averages, but rental prices hint at rising demand. The average rent for a 2-bedroom apartment stands at 1800 and for a house at 1900, indicating a competitive rental landscape. The median home price of 258000 shows potential for investment, appealing to homebuyers looking for equity growth. Be mindful of neighborhood specifics that can impact both rent and appreciation rates.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in New london, CT.
- Electricity Price: $26 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in New london, CT could entail higher utility costs. Electricity costs sit at $26, while natural gas is priced at data unavailable 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.