$2,500 Per Month
- 2 Beds
- 1 Bath
- 1,100 Sq Ft
- House for Rent
115 Pequot Ave, New London, CT 06320
115 Pequot Ave, New London, CT 06320
Frequently Asked Questions
How much does it cost to rent a home in New London, CT?
The median rent for a home in New London, CT is $1,725 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in New London, CT?
To comfortably afford the median rent in New London, CT, a household needs to earn roughly $69,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,725 per month in New London, CT, renters typically need to show $5,175 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in New London, CT?
In New London, CT, the price-to-rent ratio is 16.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in New London, CT are best for renting a home?
The best neighborhood for renting in New London, CT depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include South New London, Willetts, Coit, Downtown New London and Williams, each with its own character and price range.
