Groton, CT vs New London, CT

Groton, CT and New London, CT have a very similar cost of living, with only a 0.2% difference in their overall index. Groton scores 94 while New London scores 94 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Groton is $1,179/month compared to $1,303/month in New London — a 10% difference. Interestingly, home values tell a different story: while Groton has cheaper rent, New London actually has lower median home values ($234,800 vs $278,900).

Median household income in Groton is $69,811 compared to $60,123 in New London (+16.1%). Groton offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Groton spend roughly 20.3% of their income on rent, less than the 26% in New London.