Montgomery, MN vs New London, MN

Montgomery, MN and New London, MN have a very similar cost of living, with only a 2.2% difference in their overall index. Montgomery scores 82 while New London scores 80 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 Montgomery is $896/month compared to $960/month in New London — a 7% difference. Interestingly, home values tell a different story: while Montgomery has cheaper rent, New London actually has lower median home values ($209,300 vs $218,900).

Median household income in Montgomery is $74,018 compared to $66,830 in New London (+10.8%). While Montgomery is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Montgomery spend roughly 14.5% of their income on rent, less than the 17.2% in New London.

Climate-wise, Montgomery is notably warmer with an average of 46.7°F compared to 42.5°F in New London. Montgomery receives more rainfall at 30.6" per year compared to 24.1" in New London.