Total monthly cost of ownership
Cost to Own a Home in New London, New Hampshire
A $366,000 home here costs
$3,016per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $129,500 a year.
A standard mortgage calculator would have told you $1,995. The real number is $1,021 higher every month, 51% more than the payment most buyers budget for.
Compare Merrimack County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New London from a five-year rolling sample, and with about 1,398 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Merrimack County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
New London against Merrimack County and New Hampshire
| Measure | New London | Merrimack County |
|---|---|---|
| Median home value | $365,800 | $330,600 |
| Median property tax | $4,625 | $6,617 |
| Effective tax rate | 1.264% | 2.002% |
| Median gross rent | $1,558 | $1,293 |
| Population | 1,398 | 155,018 |
The weather behind that power bill
New London sits in Merrimack County, which averages a high of 80.2°F in its hottest month and a low of 13.2°F in its coldest, with 48.63" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 325 cooling and 7,417 heating degree days, which is what sets the $171 electricity line above.
See the full climate breakdown for Merrimack County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Merrimack County
Full Merrimack County cost breakdown · Every county in New Hampshire
Talk to someone who works this market
These are New London averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works New London every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New London I already own here and may sell
Common questions
How much does it cost to own a home in New London?
A $366,000 home in New London, New Hampshire costs approximately $3,016 per month with 20% down at 7.24%. That is $1,995 principal and interest, $386 property tax, $91 homeowners insurance, $239 utilities and $305 set aside for maintenance.
What is the property tax rate in New London?
New London has an effective property tax rate of 1.264%, based on a median home value of $365,800 and median real estate taxes of $4,625. That is lower than the Merrimack County average of 2.002%.
What is the average home price in New London?
The median owner-occupied home value in New London, New Hampshire is $365,800, against $330,600 across Merrimack County.
Is it cheaper to rent or buy in New London?
Median gross rent in New London is $1,558 a month, against $3,016 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in New London?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New London, New Hampshire at today's rate takes a household income of roughly $129,500 a year. That covers the full $3,016 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New London, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for New Hampshire.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.