Kentucky is located in the south-central United States and is a great state for those looking to experience a southern culture. It boasts some of the most iconic companies in America like Kentucky Fried Chicken, Jim Beam, Humana, and Papa John's Pizza just to name a few. In regards to the cost of living, 2 bedroom rent in Kentucky State is $920 while it is $1,430 in the US. Additionally, the Grocery Cost Index in Kentucky State (94) versus the US (100) indicates that grocery costs are more affordable in Kentucky. All things considered, Kentuckians enjoy a relatively low cost of living compared to other states throughout the country.
Kentucky has an unemployment rate of 5.0%. The US average is 6.0%.
Kentucky has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 34.8%, which is higher than the US average of 33.5%.
Tax Rates for Kentucky
- The Sales Tax Rate for Kentucky is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Kentucky 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 Kentucky
- The average income of a Kentucky resident is $23,741 a year. The US average is $28,555 a year.
- The Median household income of a Kentucky resident is $55,454 a year. The US average is $69,021 a year.