Martin, KY is an attractive city for those looking for a cost of living that is lower than the US average. The 2 bedroom rent in Martin, KY is about $840 lower than the US average of $1,430 per month. Additionally, grocery costs in Martin are 4% cheaper than the national average which can add up to significant savings over time. The city's economy is centered around industries such as agriculture, retail, and medical services. Local companies include Walmart Distribution Center, Crittenden Health Systems and Timco Logistics Solutions. Martin also boasts a lower unemployment rate than the rest of the nation at 4.1% versus 6.7%. With its low cost of living and ample job opportunities it’s easy to see why Martin, KY remains an attractive place to live.
Martin has an unemployment rate of 7.5%. The US average is 6.0%.
Martin has seen the job market decrease by -0.9% over the last year. Future job growth over the next ten years is predicted to be 18.6%, which is lower than the US average of 33.5%.
Tax Rates for Martin
- The Sales Tax Rate for Martin is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Martin is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Martin
- The average income of a Martin resident is $11,824 a year. The US average is $28,555 a year.
- The Median household income of a Martin resident is $21,736 a year. The US average is $69,021 a year.