New London, CT vs Oakville, CT

New London, CT and Oakville, CT have a very similar cost of living, with only a 3.9% difference in their overall index. New London scores 94 while Oakville scores 98 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 New London is $1,303/month compared to $1,378/month in Oakville — a 5% difference. Home values follow the same pattern: New London is more affordable at $234,800 median vs $253,500.

Median household income in New London is $60,123 compared to $89,330 in Oakville (-32.7%). While Oakville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of New London spend roughly 26% of their income on rent, more than the 18.5% in Oakville.