Norwich-New London Fair Market Rent FY 2023 Norwich-New London, CT HUD Metro FMR Area Rental Data

Fair Market Rent prices in Norwich-New London are very high compared to the national average. This FMR area is more expensive than 95% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Norwich-New London is $1,450 per month.

The previous year, rent for a two-bedroom home was $1,254 per month. This is a 15.63% increase year-over-year.

This FMR rate applies to Hadlyme, CT, Versailles, CT, Hanover, CT, West Mystic, CT, South Lyme, CT, Yantic, CT, Old Mystic, CT, Gilman, CT, Mashantucket, CT, Montville, CT and other cities within the region. The Metro Code or CBSA code for this region is METRO35980M35980.

Additionally, This Fair Market Rent (FMR) area Norwich-New London, CT HUD Metro FMR Area spans nineteen counties or cities in Connecticut which ares listed in the table below. Estimated population of Norwich-New London, CT HUD Metro FMR Area FMR area is 243,808 people based on latest Census data.

Compared to the rest of Connecticut, the Norwich-New London FMR area is less expensive than 62% of the state.

Median Rent Prices in Norwich-New London

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50^th Percentile Rental Prices: