How much does it cost to rent in New London, CT?

As of July 2026, the median monthly rent in New London, CT is $1,586. This figure is based on aggregated data from public sources and community-submitted rents.

Is New London cheaper than other Connecticut cities?

New London is among the more affordable cities in Connecticut, ranking #52 out of 56 cities at $1,586/mo.

When was New London rent data last updated?

New London rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

Is New London a renter's market or a landlord's market?

Based on RentDataNow's Rent Market Meter, New London is currently a renter's market. Rents are softening (down 1.2% YoY), so renters have negotiating leverage. The meter is derived from rent-price momentum (year-over-year and month-over-month change), not inventory levels.

City Report · CT

New London

Name: Average Rent Prices in New London, CT
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 27,625·52nd most expensive in Connecticut·Rental market data updated monthly for New London, CT

Median rent (all units)

$1,586/mo

Year-over-Year

-1.2%

Month-over-Month

-0.7%

vs US Median

-$379

Falling (Monthly)

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Most AffordableMost Expensive

New London · $1,586

More affordable than 70% of US cities · National median $1,965/mo

Rent Reality Score

75/100

Good value

OverheatedFairGreat value

Rents are 12% below what New London's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,586/mo

Expected by trend

$1,811/mo

The Rent Reality Score compares today's median rent to where New London's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,080

1 BR

$1,280

2 BR

$1,570

3 BR

$2,040

4 BR+

$2,630

Research median

$1,570/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$19,032/yr

At $1,586/mo median

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 1.2% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-1.2% YoY, -0.7% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

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.

Population

27,625

Median income

$59,098

Median age

34.7

Renters

63.9%

Age distribution

16.6%

33.8%

23%

15%

Under 1816.6%

18–3433.8%

35–5423%

55–6411.6%

65+15%

Gender

49%

51%

Male49%

Female51%

Race & ethnicity

47.9%

14.2%

35.5%

White47.9%

Black14.2%

Hispanic35.5%

Asian2.6%

Education (25+)

12.8%

30.2%

28.5%

No HS diploma12.8%

HS diploma30.2%

Some college28.5%

Bachelor's+28.5%

Housing tenure

36.1%

63.9%

Owner36.1%

Renter63.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How New London, CT has changed in 5 years

Rent

$1,134 → $1,586

up 39.9%

Income

$50,819 → $59,098

up 16.3%

Population

27,585 → 27,625

up 0.1%

Renter share

61.6% → 63.9%

+2.3 pts

Bachelor's+

26.2% → 28.5%

+2.3 pts

Median age

32.8 → 34.7

+1.9 yrs

Rent in New London, CT has climbed 39.9% since 2021, going from about $1,134 per month to roughly $1,586 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 23.6 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.

Community

Discussions about New London

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View New London rent history (2015–2026) →

Salary vs rent

Can you afford rent in New London on your salary?

At $1,586/mo, how New London rent compares to typical pay (30% rule).

Registered Nurse

Avg $103,928/yr · Rent = 18.3% income

very comfortable

Elementary School Teacher

Avg $73,788/yr · Rent = 25.8% income

affordable

Police Officer

Avg $84,997/yr · Rent = 22.4% income

affordable

Software Developer

Avg $151,921/yr · Rent = 12.5% income

very comfortable

Lawyer

Avg $194,117/yr · Rent = 9.8% income

very comfortable

Firefighter

Avg $69,091/yr · Rent = 27.5% income

affordable

Truck Driver

Avg $62,381/yr · Rent = 30.5% income

stretched

Electrician

Avg $76,890/yr · Rent = 24.8% income

affordable

By apartment size

New London rent by bedroom count

Median rent for each apartment size in New London. Click any size for full breakdown.

Local insights

Tips for renters in New London

About renting in New London, CT

Last updated: July 20, 2026

The median rent in New London is $1,586/mo as of July 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 1.2% over the past year.

FAQ

Frequently asked questions

Is New London an affordable city for renters?

New London is considered moderate for renters. At $1,586/mo, rent takes approximately 32% of the local median household income ($59,098/yr). The standard benchmark is 30%. New London slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in New London?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (~$30/hour full-time) to afford the median rent of $1,586/mo in New London. The local median household income is $59,098/yr, meaning the typical New London household falls short of that threshold.

Is rent going up or down in New London?

Rent in New London has decreased 1.2% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does New London rent compare to other cities in Connecticut?

New London is one of the more affordable cities in Connecticut for rent, ranking #52 out of 56 tracked cities at $1,586/mo.

What percentage of New London residents rent vs. own?

According to Census data, approximately 63.9% of New London households are renters, while 36.1% are owner-occupied. With a majority renter population, New London has a strong rental market.

How does New London rent compare to the national average?

New London's median rent of $1,586/mo is $379 (19%) below the US national median of $1,965/mo. Within Connecticut, it ranks #52 out of 56 tracked cities.

Income Affordability

32%

MODERATE

At $1,586/mo, rent takes ~32% of New London's median household income ($59,098/yr). The standard benchmark is 30%.

New London 32%Benchmark 30%

State income tax3–6.99%

Run the New London affordability calculator →

Nearby cities