Prospect, KY is an attractive place to live for many reasons. With affordable 2 bedroom rent of $1,620 compared to the US average of $1,430, Prospect is a great option for those looking for a budget friendly living situation. Additionally, the Grocery Cost Index in Prospect is higher than the national average at 106 as opposed to 100, making grocery shopping economical as well. The city of Prospect also features many local businesses and amenities that attract its residents. It is home to several popular restaurants such as Captain's Quarters Riverside Grille and Three Peas in a Pod Cafe & Catering Co., as well as shopping hubs like Norton Commons Town Center and Paddock Shops Mall. For entertainment there is Louisville Zoo and Kentucky Derby Museum nearby. There are also plenty of parks and trails such as Hays Kennedy Park where visitors can bike or jog with friends and family members. All these offerings make Prospect an ideal place to call home.
Prospect has an unemployment rate of 5.0%. The US average is 6.0%.
Prospect has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 38.3%, which is higher than the US average of 33.5%.
Tax Rates for Prospect
- The Sales Tax Rate for Prospect is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Prospect 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 Prospect
- The average income of a Prospect resident is $72,792 a year. The US average is $28,555 a year.
- The Median household income of a Prospect resident is $160,960 a year. The US average is $69,021 a year.