New London, Minnesota Cost Of Living

C+

0%

Overall NAT. AVG.

9%

Goods & Services NAT. AVG.

16%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	New London	Minnesota	National
Cost of living	100	102	100
Goods & Services	109	104	100
Groceries	110	101	100
Health care	130	112	100
Housing	84	100	100
Transportation	97	99	100
Utilities	98	98	100

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Cost Of Living Quick Facts

The cost of living in New London is 1% lower than the Minnesota average
The cost of living in New London is equal to the national average
New London housing is 16% lower than the national average
Minnesota general sales tax is 35% higher than the national average
Minnesota state income tax is 137% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$71,875	$5,990	$1,677	$2,156
Renters	$26,731	$2,228	$624	$802

Minnesota Sales Tax

State	General Sales Tax	With Max Surtax
Minnesota	6.875%	7.875%

Minnesota Income Tax

State	Income Tax (Low)	Income Tax (High)
Minnesota	5.35%	9.85%

Goods & Services

Item	New London	National avg.	Difference
Haircut	$23.92	$22.08	8.3%
Beauty Salon	$33.00	$42.88	23.0%
Toothpaste	$2.94	$2.57	14.7%
Shampoo	$1.78	$1.15	54.0%
Movie	$13.63	$11.51	18.5%
Bowling	$20.22	$16.62	21.7%

Groceries

Item	New London	National avg.	Difference
Ground Beef	$5.17	$4.98	3.8%
Fried Chicken	$2.08	$1.58	31.5%
Milk	$2.52	$2.42	4.3%
Potatoes	$3.32	$3.54	6.2%
Pizza	$11.33	$11.49	1.4%
Beer	$10.62	$10.04	5.7%

Health Care

Item	New London	National avg.	Difference
Optometrist	$122.39	$117.76	3.9%
Doctor	$205.63	$125.34	64.1%
Dentist	$107.33	$107.52	0.2%
Ibuprofen	$11.49	$10.26	12.0%
Lipitor	$653.13	$459.24	42.2%

Housing

Item	New London	National avg.	Difference
Home Price	$163,500.00	$184,700.00	11.5%
Avg. Mortgage Payment	$1,360.01	$1,697.41	19.9%
Apartment Rent	$789.00	$949.00	16.9%

Transportation

Item	New London	National avg.	Difference
Gasoline	$3.68	$3.85	4.3%
Tire Balancing	$57.71	$57.01	1.2%

Utilities

Item	New London	National avg.	Difference
All Electricity	$172.86	$177.27	2.5%
Phone	$188.80	$189.62	0.4%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Sunburg, MN	66	85	14.8%
Lake Henry, MN	86	87	12.8%
Brooten, MN	598	89	11.3%
St. Martin, MN	356	90	9.7%
Atwater, MN	1,141	91	9.0%
New London, MN	1,249	100	0.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
St. Anne, IL	1,249	84	15.6%
Onsted, MI	1,249	90	10.3%
New York Mills, MN	1,249	91	9.0%
Holland, NY	1,249	85	15.1%
Duluth, WA	1,249	128	28.5%
New London, MN	1,249	100	0.1%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; this is the most current data available.