Versailles, KY is a small town located just outside of Lexington. It is known for its beautiful historic buildings, local businesses, and friendly people. The cost of living in Versailles is quite low compared to the United States as a whole; rents for a two-bedroom apartment are about $890 per month versus the national average of $1,430 per month. Additionally, the Grocery Cost Index in Versailles is 99 compared to 100 in the US. This low cost of living makes Versailles an attractive place to live and work. There are many local companies such as Kentucky Horse Park, Rafiki African Market, Antique Shopping on Main Street, and several restaurants like La Petite Maison which attract tourists from all over the world. Versailles is also home to several educational institutions including Midway University and Woodford County High School. With its affordable housing and vibrant local businesses, Versailles makes for a great place to call home.
Versailles has an unemployment rate of 3.8%. The US average is 6.0%.
Versailles has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 35.3%, which is higher than the US average of 33.5%.
Tax Rates for Versailles
- The Sales Tax Rate for Versailles is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Versailles is 8.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Versailles
- The average income of a Versailles resident is $24,652 a year. The US average is $28,555 a year.
- The Median household income of a Versailles resident is $51,985 a year. The US average is $69,021 a year.