New London, Connecticut Income Statistics
New London Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
D
New London Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | New London | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,184 | $97,098 | $80,455 |
| Median Personal Income | $49,756 | $75,632 | $60,758 |
| Average Yearly Income Growth | 7.7% | 3.7% | 4.8% |
| Six-Figure Earners | 7.5% | 18.8% | 13.9% |
| $200k+ Households | 4.9% | 19.5% | 13.2% |
The median household income in New London is about 39% lower than in Connecticut. Income has been growing faster in New London (7.7%/yr) than in Connecticut (3.7%/yr).
About 8% of adults in New London earn six figures ($100,000 or more) a year, lower than the Connecticut average of 19%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in New London, Connecticut grew by 34.1% from 2009 to 2024, reaching $59,184 in 2024. That's an average of about 7.7% per year.
New London has stayed well below the U.S. median household income in every year from 2009 to 2024 and has never reached it. The gap has widened from 14% in 2009, the closest it has been, to 26% in 2024.
Income Distribution in New London
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 2,942 households (24.9% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 29.2% of households in New London had an income under $35,000 and 10.5% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., New London has a larger share of households earning $75,000 to $99,999 (16.8% vs 12.6%) and a smaller share earning $200,000 or more (4.9% vs 13.2%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 664 | 5.6% | 5.1% |
| $10,000 to $14,999 | 743 | 6.3% | 3.5% |
| $15,000 to $24,999 | 1,106 | 9.4% | 6.4% |
| $25,000 to $34,999 | 927 | 7.9% | 6.7% |
| $35,000 to $49,999 | 1,465 | 12.4% | 10.1% |
| $50,000 to $74,999 | 1,969 | 16.7% | 15.5% |
| $75,000 to $99,999 | 1,978 | 16.8% | 12.6% |
| $100,000 to $149,999 | 1,705 | 14.5% | 17.4% |
| $150,000 to $199,999 | 659 | 5.6% | 9.5% |
| $200,000 or more | 578 | 4.9% | 13.2% |
Shares are of all 11,794 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 1,778 residents (7.5% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 8.3% of residents who have any income.
In 2024, 9.1% of New London residents aged 15 and over reported no personal income, 38.7% had some income but less than $25,000, and 15.5% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., New London has a larger share of residents earning $1 to $9,999 (15.5% vs 11.2%) and a smaller share earning $100,000 or more (7.5% vs 13.9%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 2,147 | 9.1% | 12.8% |
| $1 to $9,999 | 3,642 | 15.5% | 11.2% |
| $10,000 to $14,999 | 2,118 | 9.0% | 7.0% |
| $15,000 to $24,999 | 3,362 | 14.3% | 10.5% |
| $25,000 to $34,999 | 2,511 | 10.7% | 9.5% |
| $35,000 to $49,999 | 3,168 | 13.4% | 12.6% |
| $50,000 to $74,999 | 2,974 | 12.6% | 14.3% |
| $75,000 to $99,999 | 1,869 | 7.9% | 8.2% |
| $100,000 or more | 1,778 | 7.5% | 13.9% |
Shares are of the 23,569 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 9.1% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in New London
| Metric | New London | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.543 | 0.536 | 0.552 |
| Male Median Income | $57,636 | $85,321 | $69,667 |
| Female Median Income | $46,781 | $70,012 | $56,850 |
| Gender Pay Gap | 18.8% | 17.9% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In New London, it is 0.543, higher than Connecticut's 0.536, so income is less evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 23% more than women's income in New London, Connecticut. Over a 35-year career, a 23% wage gap accumulates to roughly $379,925 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in New London, Connecticut has widened from about 11% to 19% in 2024. Over that period the gap was widest at 29% in 2020, and in 2018 women out-earned men by 5%. In dollar terms, the gap has widened by $6,295 since 2009.
Sharply against the trend: the pay gap in New London widened by 7.6 points while Connecticut's narrowed by 6.3 points.
Employment
| Metric | New London | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 5.5% | 5.2% |
| Working from Home | 11.6% | 16.2% | 15.0% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 724 people are unemployed in New London, Connecticut.
The average commute time in New London is 16 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in New London, Connecticut has fallen from 9.2% to 6.7% in 2024. Over that period the rate peaked at 11.8% in 2013 and fell as low as 5.5% in 2021.
New London has been above the U.S. unemployment rate in most years since 2011, but briefly dipped below it in 2012 (0.4 points lower). In 2024 its rate was 1.5 points higher.
Conclusion
Considering all these factors, New London, Connecticut has an overall wealth index grade of D, making it somewhat worse than Connecticut, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in New London, Connecticut.
How Rich Is New London, Connecticut?
New London has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $59,184, about 39% lower than the Connecticut average of $97,098.
Are incomes growing in New London, Connecticut?
Between 2009 and 2024, the median household income in New London, Connecticut rose 34%, from $44,139 to $59,184. Over the same years, income here lagged behind Connecticut as a whole: +34% against +41%.
What was the median household income in New London in 2023?
In 2023, the median household income in New London, Connecticut was $60,136, up 6% from $56,805 in 2022. The Connecticut median that year was $95,197.
What was the median household income in New London in 2020?
In 2020, the median household income in New London, Connecticut was $45,223. By 2024 it had risen 31% to $59,184.
What is the Gini coefficient in New London, Connecticut?
The Gini coefficient in New London is 0.543. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in New London, Connecticut?
Since 2009, the income gap between men and women in New London, Connecticut has widened from about 11% to 19% in 2024. Over that period the gap was widest at 29% in 2020, and in 2018 women out-earned men by 5%. In dollar terms, the gap has widened by $6,295 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →