Hyden, KY is a small rural town located in the heart of Kentucky. It has a population of about 5,000 people and is known for its quiet atmosphere and friendly locals. The housing prices in Hyden are quite low compared to the national average; a two bedroom apartment can be rented for an average of $680 per month, while the US median stands at $1,430 per month. The Grocery Cost Index (GCI) in Hyden is also lower than that of the US; it is 92 compared to 100 in the US. This indicates that basic grocery costs are 8% cheaper in Hyden when compared to the U.S average. Local businesses include restaurants such as Down Home Diner, retailers like Mountain Trade Outfitters and banks like Community Trust Bank. Taking into consideration rent and grocery costs, overall cost of living in Hyden is significantly lower than other areas across the United States.
Hyden has an unemployment rate of 8.5%. The US average is 6.0%.
Hyden has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 9.9%, which is lower than the US average of 33.5%.
Tax Rates for Hyden
- The Sales Tax Rate for Hyden is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hyden is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hyden
- The average income of a Hyden resident is $18,768 a year. The US average is $28,555 a year.
- The Median household income of a Hyden resident is $83,074 a year. The US average is $69,021 a year.