Springfield, KY is a small city located in Washington County with a population of about 2,500 people. It is known for its beautiful countryside views and peaceful living. The cost of rent for two-bedrooms in Springfield is considerably cheaper than the national average at $760 compared to $1,430. Furthermore, the Grocery Cost Index in Springfield is 94 versus 100 in the US which illustrates how cost effective it can be to live here. This coupled with some of the great local companies such as Bank of Springfield and Sree Rayalaseema Hi-Strength Hypo Ltd makes it an attractive town to settle down in. Additionally, there are plenty of amenities including various parks and recreational activities as well as quality schools and hospitals nearby to ensure residents have access to all the necessary needs.
Springfield has an unemployment rate of 3.9%. The US average is 6.0%.
Springfield has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 35.2%, which is higher than the US average of 33.5%.
Tax Rates for Springfield
- The Sales Tax Rate for Springfield is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Springfield is 7.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Springfield
- The average income of a Springfield resident is $17,720 a year. The US average is $28,555 a year.
- The Median household income of a Springfield resident is $41,750 a year. The US average is $69,021 a year.