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New London

Learn about the people, housing, costs and businesses in New London, Ohio

Median Home$137,800
Median Rent$821/month
Population2,474
Leading IndustriesRetail · Wholesale Trade · Transportation25% retail
Home Value Growth+8.1% over 2 years
Family-Friendly27% of residentsabove average nationally
Homeowners74% of occupied units
NotableAffordable Market$138k median home · lower cost than 78% of the country
New London
OH

Frequently Asked Questions

What are today's mortgage rates in New London?

As of today, the 30-year fixed mortgage rate for New London is approximately 6.998% (7.041% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in New London?

The median home value in New London is $138k. The median monthly rent is $821. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New London?

Home values in New London have increased 8.1% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in New London?

Based on a typical all-in ownership cost of $897/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $38k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New London is $60k/year.

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What industries drive the economy in New London?

The largest employment sectors in New London are retail (25%) and public administration (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.