Murray, KY is a small town located in the western part of Kentucky. It is known for its affordable housing and low cost of living. The average 2 bedroom rental rate is $780, considerably lower than the national average of $1,430. Grocery Cost Index in Murray is 92 compared to 100 in the US, making it a great place for people looking to stretch their budget.
The local economy benefits from the presence of major employers like Murray State University and Baptist Health System, Inc. Popular attractions include Lake Barkley State Park, Cadiz Railroad Museum, and Pennyrile Forest State Resort Park. Combined with its low cost of living and vibrant local businesses offering a variety of services and entertainment options, Murray is an ideal location for families looking to relocate or start anew.
Murray has an unemployment rate of 5.1%. The US average is 6.0%.
Murray has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Murray
- The Sales Tax Rate for Murray is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Murray is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Murray
- The average income of a Murray resident is $18,263 a year. The US average is $28,555 a year.
- The Median household income of a Murray resident is $35,966 a year. The US average is $69,021 a year.