Berea, Kentucky is an attractive place to live due to the affordability of rent and groceries. The average two bedroom rental cost in Berea, KY is $770 per month compared to the national average of $1,430. Additionally, the grocery cost index in Berea, KY is 96 versus 100 in the US. This means that for every dollar spent on groceries in the US, only 96 cents needs to be spent in Berea. The cost savings can make a significant difference for potential residents. Furthermore, Berea has a wide range of local companies such as Mammoth Cave Adventure Tours and Fork Farm & Forge which offer unique services such as guided cave tours and specialty metal work. The availability of these services make Berea a great place to call home.
Berea has an unemployment rate of 4.5%. The US average is 6.0%.
Berea has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 30.7%, which is lower than the US average of 33.5%.
Tax Rates for Berea
- The Sales Tax Rate for Berea is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Berea is 8.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Berea
- The average income of a Berea resident is $18,018 a year. The US average is $28,555 a year.
- The Median household income of a Berea resident is $49,974 a year. The US average is $69,021 a year.