Zumper

40 Franklin Street
40 Franklin Street, New London, CT 06320, USA

Apartment for rent
Monthly rent
$1,195–$1,595The price shown reflects a 12-month lease. Fees may apply.
BedsStudio–1
Baths1
Sqft350–625
modified
5+ Days Ago

Property Overview

Conveniently located with heat included, off-street parking, pet-friendly policies, and shared yard space, it offers a comfortable and practical living setup. Extremely close proximity to top-rated elementary and middle schools adds everyday convenience. An extensive set of 21 photos provides a clear, detailed view of the home and surroundings for prospective renters.

This summary uses Zumper’s proprietary data. “Things you’ll love” and “Great for” are based on our internal analyses of market trends and renter insights.

Things you’ll love

  • Elementary school nearby
  • Middle school nearby
  • Images available

Great for

  • Social life

Highlights

  • conveniently located
  • off-street parking
  • heat included
  • pet-friendly
  • shared yard space

Units

40 Franklin Street New London, CT

New Listing

8

Studio

1 Bath

$1,195

Listed on 05/09/2026
Listed by Dawn Field
Days on market: 9
Property Status: Active Studio apartment offering just the right amount of space with heat included-keeping things simple and affordable. This pet-friendly unit features off-street parking, a shared yard, and access to a brand new shared laundry room. Everything you need in one convenient space. Conveniently located just minutes to I-395 and I-95, Electric Boat, Mitchell College, Lawrence + Memorial Hospital, Connecticut College, the Naval Submarine Base, and the train station. Office Phone: (860) 739-0888 Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Available

1 Bed, 1 Bath

1 Bed

1 Bath

$1,595

Listed on 04/02/2026
Listed by Dawn Field
Days on market: 46
Property Status: Active Charming 1-bedroom, 1-bath apartment offering both comfort and convenience. Heat is included in the rent, making this an excellent value. This pet-friendly unit features a bright and inviting layout, along with access to a brand new shared laundry room. Enjoy the ease of off-street parking and a shared yard space. Conveniently located just minutes to I-395 and I-95, Electric Boat, Mitchell College, Lawrence + Memorial Hospital, Connecticut College, the Naval Submarine Base, and the train station. A great place to call home-schedule your showing today! Office Phone: (860) 739-0888 Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Amenities for 40 Franklin Street

Some units at this address have these amenities. View unit details for more information.

Building
  • Outdoor Space
  • On-Site Laundry
Unit Amenities
  • On-Site Laundry
  • Dishwasher

Policies at 40 Franklin Street

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Questions about this property’s policies and fees?

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About 40 Franklin Street

HomeApartments in New London 40 Franklin St #8, New London, CT 06320, USA

Check out this charming property located at 40 Franklin St, New London, CT 06320, USA! This intimate 2-unit building offers studio and 1-bedroom options, ranging in size from 350 to 625 square feet. Enjoy the convenience of off-street parking, heat included in the rent, and shared yard space. Take advantage of on-site laundry facilities, outdoor space, and a dishwasher in each unit. With only long-term rentals, this property is perfect for those looking for a stable and comfortable living situation. Note that pets are not allowed. With its central location, this property is a great choice for those who want to be close to the action. One of the biggest advantages of this property is its convenient location, making it easy to get around town.

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Address details

Units2
Units available2
City
Zip code06320

40 Franklin St #8 is great for:

Social life

  • Areas nearby are accessible by walking
  • 29 theaters, music venues, or sports arenas nearby
  • 111 restaurants within 1 mile of this property
  • 163 mixed-use spaces nearby

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How 40 Franklin Street, New London, CT 06320, USA compares to other nearby properties.

Positives

Elementary school nearby
There is an elementary school 0.2 mile away
Middle school nearby
There is a middle school 0.2 mile away
Images available
There are at least 10 photos of this address
Laundry available on site
Washers and dryers are available in-building or in-unit
Outdoor space
One or more rentals here have easy access to the outdoors

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Rent trends in New London

Studio apartments at 40 Franklin St #8 cost about 4% less than the average rent price for studios in New London.

1-bedroom apartments here are priced 6% higher than 1-bedrooms in New London.

Median rents as of May 16 2026.
New London
A table of studio rental data trends in New London
MonthMedian Rent
June 2024$1,452
July 2024$1,444
August 2024$1,635
September 2024$1,612
October 2024$1,510
November 2024$1,565
December 2024$1,442
January 2025$1,299
February 2025$1,289
March 2025$1,302
April 2025$1,329
May 2025$1,334
June 2025$1,291
July 2025$1,260
August 2025$1,250
September 2025$1,250
October 2025$1,254
November 2025$1,284
December 2025$1,300
January 2026$1,299
February 2026$1,296
March 2026$1,250
April 2026$1,250
May 2026$1,250

Affordability calculator

Can I afford to live at 40 Franklin Street?

Bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$47,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $47,800 annually to afford this studio monthly rent price of $1,195.
For more information on rent affordability, visit our rent calculator.

Rent history

The increase or decrease in monthly rent compared to the previous listing price.
Check out the past listing prices for monthly rent at 40 Franklin St, New London, CT.
7 months ago$1,4951 bed1 bath
1 year ago$1,095Studio1 bath
1 year ago$1,195Studio1 bath
1 year ago$1,3951 bed0 bath
1 year ago$1,4951 bed1 bath
2 years ago$1,195Studio1 bath
2 years ago$1,5951 bed1 bath
2 years ago$1,185Studio1 bath
2 years ago$1,185Studio1 bath

Schools near 40 Franklin St #8

Mystic River Magnet School

160 fish town rd

mystic, CT, 6355

PK, K-5Public
B-

Westerly Inclusion Preschool P

23 highland ave

westerly, RI, 2891

PKPublic

Oysterponds Elementary School

23405 main rd

orient, NY, 11957

PK, K-6Public
B
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Neighborhood

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around New London near 40 Franklin Street

Walking

6/10
Some shops and stores are within a few minutes.

Driving

8/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

5/10
More spots are within biking distance and some roads are cyclist-friendly.

Transit

5/10
Frequent public transit options are within walking distance.

Points of interest for 40 Franklin Street, New London

Groceries

9/10
At least one supermarket within a 10-minute walk

Shopping

7/10
Several shops within a few minutes’ walk

Cafes

5/10
Some cafés within a few minutes’ walk

Restaurants

6/10
Variety of restaurants within a few minutes' walk

Primary schools

9/10
At least one elementary school within a 5-minute walk

High schools

9/10
At least one high school within a 10-minute walk

Nightlife

4/10
Some bars within walking distance

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