Rents are 13% below what New London's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,589 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
New London, CT is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 28.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How New London, CT has changed in 5 years
Rent in New London, CT has climbed 40.1% since 2021, going from about $1,134 per month to roughly $1,589 today. Household income in the area moved from $50,819 to $59,098 across the same window, up 16.3% versus 2021. Rent outpaced income growth by roughly 23.8 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 63.9% of households rent today, against 61.6% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 26.2% to 28.5%. Reading these numbers side by side helps frame whether current listings in New London, CT look reasonable against where the market sat half a decade ago.
Discussions about New London
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Can you afford rent in New London on your salary?
At $1,589/mo, how New London rent compares to typical pay (30% rule).
New London rent by bedroom count
Median rent for each apartment size in New London. Click any size for full breakdown.
Tips for renters in New London
Last updated: August 17, 2026
The median rent in New London is $1,589/mo as of August 2026. A studio apartment averages $1,080/mo while a 2-bedroom runs $1,570/mo. One-bedroom apartments average $1,280/mo and 3-bedroom units go for $2,040/mo.
At 32% of local median household income ($59,098/yr), New London ranks as moderate compared to the national benchmark of 30%. Rents have decreased 1.1% over the past year.
Frequently asked questions
Is New London an affordable city for renters?
How much income do you need to rent in New London?
Is rent going up or down in New London?
How does New London rent compare to other cities in Connecticut?
What percentage of New London residents rent vs. own?
How does New London rent compare to the national average?
At $1,589/mo, rent takes ~32% of New London's median household income ($59,098/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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