Essex, IA vs New London, IA

Essex is moderately more affordable than New London, with a 8.2% lower cost of living index. Essex scores 60 compared to 65 for New London, where the US average is 100. This difference means residents of New London can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Essex is $681/month compared to $772/month in New London — a 12% difference. Home values follow the same pattern: Essex is more affordable at $87,700 median vs $118,900.

Median household income in Essex is $57,344 compared to $65,815 in New London (-12.9%). While New London is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Essex spend roughly 14.3% of their income on rent, more than the 14.1% in New London.