New London is a city in Connecticut state in USA with a population of 27001 residents.. The poverty rate of New London is 23.9%, which is 71% higher than national average. The typical household in New London earns $47424 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 12 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 52.2% of households earn less than $50,000 a year compared to 39% national rate.

A high school education is a basic prerequisite for most jobs, and in New London, only 86% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of New London remained 7.4%, which is 57% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In New London, only 28% of adults have a bachelor's degree and 29% have some college but no degree.

Cost of living in New London is 111, which is 11% higher than national average. Median home value in New London is $186900 , which is 19% lower than national average. While median income in New London remained $47424, which is 30% lower than national average.