Cost of Living in New London
New London's cost of living combines genuinely below-average housing costs with a real, meaningfully elevated property tax rate.
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Learn moreGenuinely affordable housing for coastal Connecticut
New London's real, cited 2024 median home value ran approximately $253,300 -- substantially below both the Connecticut statewide picture and neighboring Groton's own housing figures.
A meaningfully higher property tax rate
New London's mill rate of 37.33 computes to an effective property tax rate near 2.61%, above both Connecticut's high statewide average and Groton's ~1.74% rate -- a real, honest tradeoff against the lower home prices.
Rent runs genuinely below neighboring Groton
New London's median rent ran approximately $1,200-$1,545/month depending on source -- generally below Groton's average rent of approximately $1,773.
Key takeaways
- New London's median home value (~$253,300) runs genuinely below Connecticut's statewide norm.
- A real ~2.61% effective property tax rate offsets some of that housing-cost advantage.
- Rent runs genuinely below neighboring Groton's average.
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