Somerset, KY Metro Area is an affordable place for those looking to rent. According to the given content, a two bedroom rental here is only $770, while the US 2 Bedroom Rent average is $1,430. This metro area also offers relatively low grocery costs, with a cost index of 93 versus 100 in the US. In Somerset you can find well known companies like WalMart and AutoZone, as well as local businesses. For instance, there is Som-Mart Discount Foods and L&K Auto Parts that serve the local community with groceries and car parts respectively.
Somerset Metro Area has an unemployment rate of 5.5%. The US average is 6.0%.
Somerset Metro Area has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 24.4%, which is lower than the US average of 33.5%.
Tax Rates for Somerset Metro Area
- The Sales Tax Rate for Somerset Metro Area is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Somerset Metro Area 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 Somerset Metro Area
- The average income of a Somerset Metro Area resident is $26,936 a year. The US average is $37,638 a year.
- The Median household income of a Somerset Metro Area resident is $42,652 a year. The US average is $69,021 a year.