New London, IA vs Olin, IA

New London, IA and Olin, IA have a very similar cost of living, with only a 3% difference in their overall index. New London scores 65 while Olin scores 63 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 $772/month compared to $775/month in Olin — a 0% difference. Interestingly, home values tell a different story: while New London has cheaper rent, Olin actually has lower median home values ($98,500 vs $118,900).

Median household income in New London is $65,815 compared to $67,120 in Olin (-1.9%). Olin offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New London spend roughly 14.1% of their income on rent, more than the 13.9% in Olin.

Climate-wise, New London is notably warmer with an average of 51.9°F compared to 48.3°F in Olin. New London receives more rainfall at 37.9" per year compared to 35.9" in Olin.