Housing costs in New London?
A typical home costs
$276,600, which is 18.2% less expensive than the national average of
$338,100 and 10.6% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in New London costs
$840 per month, which is 41.3% cheaper than the national average of
$1,430 and 47.6% cheaper than the state average of
$1,240.
Can I afford New London?
To live comfortably in New London, Minnesota, a minimum annual income of
$52,920 for a family, and
$28,000 for a single person is recommended.
What does A.I. say about New London?
New London, MN has a cost of living that is considered to be average in comparison to other communities across the United States. The median home price in New London is $123,000, which is higher than the national median of $220,000. In addition, the city's overall cost of living index is 102.3 which is slightly higher than the US average of 100. Groceries, transportation and utilities are all around the national averages while health care costs are slightly below average for the region. All in all, New London offers a reasonable cost of living for those looking for an affordable place to live in Minnesota.