ZIP Code · CT

ZIP 06320

Part of New London, CT

Pop. 27,703·New London County·69th most expensive ZIP in Connecticut

Median rent (all units)

$1,700/mo

Year-over-Year

+8.7%

Month-over-Month

+1.8%

vs US Median

-$232

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 06320 · $1,700

More affordable than 58% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,310

1 BR

$1,520

2 BR

$1,900

3 BR

$2,450

4 BR+

$3,040

Research median

$1,900/mo

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

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 06320 usually run 1.8% below trend in January and 2% above it in September, about $65 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 06320 is at its highest level since Zillow's records here began in May 2020.

Past year vs. the rest of Connecticut

Rent in ZIP 06320 changed +8.7% over the year to September 2026. Across the 64 Connecticut ZIP codes Zillow tracks, the typical change was +3.7%.

Recent direction

Rent has risen 10 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($59,170) is $1,479 a month. That covers HUD's Fair Market Rent for up to a studio ($1,310); a 1-bedroom is $1,520.

From Zillow's monthly rent index (ZORI) for ZIP 06320. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,400/yr

At $1,700/mo median

Location

CityNew London

StateCT

CountyNew London County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 8.7% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+8.7% YoY, +1.8% MoM), not inventory.

Demographics

Who lives here

ZIP 06320 (New London, CT) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 28.7% of residents hold a bachelor's degree or higher.

Population

27,703

Median income

$59,170

Median age

34.7

Renters

63.9%

Age distribution

16.7%

33.7%

23.1%

15%

Under 1816.7%

18–3433.7%

35–5423.1%

55–6411.6%

65+15%

Gender

49.1%

50.9%

Male49.1%

Female50.9%

Race & ethnicity

48.1%

14.2%

35.4%

White48.1%

Black14.2%

Hispanic35.4%

Asian2.5%

Education (25+)

12.8%

30.1%

28.4%

28.7%

No HS diploma12.8%

HS diploma30.1%

Some college28.4%

Bachelor's+28.7%

Housing tenure

36.1%

63.9%

Owner36.1%

Renter63.9%

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

2021 vs 2026

How ZIP 06320 in New London, CT has changed in 5 years

Rent

$1,086 → $1,700

up 56.5%

Income

$50,819 → $59,170

up 16.4%

Population

27,585 → 27,703

up 0.4%

Renter share

61.6% → 63.9%

+2.3 pts

Bachelor's+

26.2% → 28.7%

+2.5 pts

Median age

32.8 → 34.7

+1.9 yrs

Since 2021, the typical rent in ZIP 06320 in New London, CT has climbed from $1,086 to $1,700, a 56.5% change over five years. Local incomes tracked alongside that move, going from a median of $50,819 in 2021 to $59,170 more recently. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 63.9% of households, compared with 61.6% five years ago. College-educated residents now make up 28.7% of adults here, versus 26.2% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 06320 in New London, CT market of 2021.

Community

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About renting in ZIP 06320

Last updated: October 17, 2026

ZIP code 06320 covers New London, CT. The median rent here is $1,700/mo as of October 2026. A 1-bedroom rents for a median of $1,520/mo. A 2-bedroom rents for a median of $1,900/mo.

At 34% of local median household income ($59,170/yr), ZIP 06320 ranks as moderate compared to the national benchmark of 30%. Rents have increased 8.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 06320?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (about $33/hour full-time) to afford the median rent of $1,700/mo in ZIP 06320. The local median household income is $59,170/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 06320?

Rent in ZIP 06320 has risen 8.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in May 2020.

When is the cheapest time to rent in ZIP 06320?

Asking rents in ZIP 06320 are usually lowest in January, about 1.8% below their yearly trend, and highest in September, about 2% above it. At today's median that is a gap of roughly $65 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 06320 compare to other ZIPs in Connecticut?

ZIP 06320 is one of the more affordable among Connecticut ZIP codes for rent, ranking #69 of 83 at $1,700/mo. Over the year to September 2026, rent in ZIP 06320 changed +8.7%, against a typical +3.7% across the 64 Connecticut ZIP codes Zillow tracks.