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Naval Submarine Base New London

Cost of Living

Cost of Living Indexes

An amount below 100 means Connecticut is cheaper than the U.S. average. A cost-of-living index above 100 means Connecticut, Connecticut is more expensive. Connecticut's cost of living is 117.8 above the national average.

The cost of living in the New London area, which encompasses Groton and New London, is above the national average, making it more expensive for those stationed at Naval Submarine Base New London.

Cost of Living Index:

  • Groton
    • Overall - 113.0
    • Grocery - 105.7
    • Health - 112.3
    • Housing - 105.1
    • Utilities - 112.7
  • New London
    • Overall - 112.0
    • Grocery - 103.9
    • Health - 112.3
    • Housing - 74.0
    • Utilities - 114.0
  • Connecticut
    • Overall - 117.8
    • Grocery - 106.6
    • Health - 118.6
    • Housing - 109.2
    • Utilities - 118.6
  • National Average
    • Overall - 100.0
    • Grocery - 100.0
    • Health - 100.0
    • Housing - 100.0
    • Utilities - 100.0

The cost-of-living adjustment (COLA) will begin in January of 2025. LINK: https://www.ssa.gov/cola/

Detailed overview: Overall Cost of Living: Above National Average: The cost of living in Connecticut, especially in the New London area, surpasses the national average.

  • Groton vs. New London: Groton's cost of living is slightly higher than that of New London, with a cost-of-living index of 113.0 compared to 112.0.
  • Groton Cost of Living Index: Groton's living costs are 13% higher than the national average.
  • New London Cost of Living Index: New London's living costs are 12% higher than the national average.

Housing Costs: (house cost divide by the square footage equals the amount per square foot)

  • Groton Housing Costs: The median sales price of a home in Groton is approximately $390,000, or about $260 per square foot.
  • New London Housing Costs: Homes in New London are somewhat less expensive, with a median sales price of around $290,000, or about $193 per square foot.
  • Rental Costs: Rental prices in New London County range from $600 to over $2,000 per month, with most rental properties requiring the first month's rent as a deposit.
  • Apartment Rent: As of September, 2025, the average apartment rent in New London is Median Rental Prices Studio $1,493, 1BR $1,704, 2BR $1,789, 3BR $2,022, 4BR $2,467
  • Apartment Rent: As of September, 2025, the average apartment rent in Groton is Median Rental Prices: Studio $1,704, 1BR $1,830, 2BR $2,098, 3BR $2,890, 4BR $3,719
  • Pet Deposits: Many landlords also require an additional pet deposit.