New London, IA
Population 2,402 · Iowa
About New London, IA
New London is a small town located in Iowa with a population of 2,402 residents according to the latest US Census Bureau American Community Survey data. The median household income is $65,815 per year, which is 12% below the national median of $75,149. The median age of 35.4 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in New London features a median home value of $118,900, which is 51% below the national median of $244,900. This makes New London one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $772, 34% below the national average of $1,163/month. Of the 887 total housing units, 78% are owner-occupied (654 units) and 22% are renter-occupied (187 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New London shows an unemployment rate of 2.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 9.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New London have an average one-way commute time of 18.2 minutes, one of the shorter commutes in the region.
Education & Demographics
21.8% of New London residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 1.2% White, 3.3% Hispanic or Latino, 0.8% Black or African American, and 0.9% Asian residents, with 0.7% of the population being foreign-born.
Cost of Living in New London, IA
Compared to national averages, New London has a median household income of $65,815 (12% below the national median of $75,149). Home values average $118,900, which is 51% below the national median. Monthly rent at $772 is 34% below the US average of $1,163. Within Iowa, New London's income is 3% below the state average of $67,947, and home values are 10% below the state median of $132,237.
Why Live in New London, IA?
New London offers affordable housing with a median home value of $118,900, below the US average of $244,900, and rent that’s lower than the national average at $772/month, and a strong job market with an unemployment rate of just 2.8%. Additionally, the city features a low poverty rate of 9.3%, better than the national average, and short commute times averaging just 18.2 minutes.
Potential considerations include median household income ($65,815) that falls below the national average. However, New London’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New London has a population of 2,402 with a median age of 35.4 years. Compare New London with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near New London
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| West Union | 2,393 | $50,909 | $133,200 | Compare |
| Belle Plaine | 2,412 | $70,517 | $111,600 | Compare |
| Rockwell City | 2,449 | $61,563 | $91,300 | Compare |
| Atkins | 2,347 | $115,625 | $302,600 | Compare |
| Alta | 2,344 | $66,118 | $125,800 | Compare |
| West Branch | 2,526 | $87,891 | $226,700 | Compare |
| Bellevue | 2,256 | $78,792 | $210,500 | Compare |
| Hull | 2,248 | $76,213 | $215,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New London With Other Cities
Frequently Asked Questions about New London
What is the population of New London, IA?
The population of New London, IA is 2,402 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Iowa.
What is the median household income in New London?
The median household income in New London, IA is $65,815 per year, which is 12% below the national median of $75,149.
What is the median home value in New London?
The median home value in New London, IA is $118,900, which is 51% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New London?
The median monthly rent in New London, IA is $772, which is 34% below the national average of $1,163/month.
What is the unemployment rate in New London?
The unemployment rate in New London, IA is 2.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New London, IA a good place to live?
New London offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,402 and a median age of 35.4, the city appeals to a broad range of residents.
How educated is New London, IA?
21.8% of residents in New London aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New London?
Key cost-of-living indicators for New London, IA: median home value is $118,900 (51% below national), median rent is $772/month, and median household income is $65,815. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New London?
The poverty rate in New London, IA is 9.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New London, IA?
New London's population is 1.2% White, 3.3% Hispanic or Latino, 0.8% Black or African American, 0.9% Asian, and 0.7% two or more races. 0.7% of residents are foreign-born.