Essex, MO vs New London, MO

Essex is moderately more affordable than New London, with a 7.2% 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 $625/month compared to $748/month in New London — a 16% difference. Home values follow the same pattern: Essex is more affordable at $115,600 median vs $126,900.

Median household income in Essex is $63,854 compared to $47,292 in New London (+35%). Essex offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Essex spend roughly 11.7% of their income on rent, less than the 19% in New London.