Mount Sterling, KY is a great place to live if you're looking for an affordable cost of living. The average two bedroom rent is $830 compared to the US average of $1,430, which makes it a great bargain. Additionally, the Grocery Cost Index in Mount Sterling is 96 compared to 100 in the US. This means that groceries are more affordable here than in many other parts of the country. Mount Sterling has a thriving local economy with companies such as LaRue Industries, Kenworth of Kentucky, and Cowden Technologies all located in the area. There are also plenty of restaurants and shops catering to locals and visitors alike.
Mount Sterling has an unemployment rate of 6.0%. The US average is 6.0%.
Mount Sterling has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Mount Sterling
- The Sales Tax Rate for Mount Sterling is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Mount Sterling 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 Mount Sterling
- The average income of a Mount Sterling resident is $22,434 a year. The US average is $28,555 a year.
- The Median household income of a Mount Sterling resident is $44,676 a year. The US average is $69,021 a year.