Frankfort, Ky is a great place to live and work! The city boasts an affordable cost of living, with the average two-bedroom apartment rent being $910 per month. This is far below the national average of $1,430. Grocery costs are also lower than the US as a whole, with a grocery cost index of 95 versus 100 in the US. With its low cost of living, Frankfort is home to some major companies such as Buffalo Trace Distillery and Eastern State Hospital. It's also home to plenty of attractions like Liberty Hall Historic Site and Kentucky State Capitol.
Frankfort has an unemployment rate of 5.3%. The US average is 6.0%.
Frankfort 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 32.3%, which is lower than the US average of 33.5%.
Tax Rates for Frankfort
- The Sales Tax Rate for Frankfort is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Frankfort is 8.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Frankfort
- The average income of a Frankfort resident is $24,059 a year. The US average is $28,555 a year.
- The Median household income of a Frankfort resident is $51,731 a year. The US average is $69,021 a year.