Morehead, KY is a quaint town located in Eastern Kentucky. It is known for its affordability and family-friendly atmosphere. According to recent data, the median rent for a two bedroom home is about $810, which is significantly lower than the national average of $1,430. Additionally, the Grocery Cost Index in Morehead is 96 compared to the US index of 100. This makes basic necessities more affordable in Morehead than other places in the US. \nWhen it comes to local businesses and attractions, Morehead has many to offer. Some popular ones include Buffalo Wild Wings, M&M Family Restaurant & Bakery, and Sandy Valley Shopping Center. Additionally, residents enjoy visiting Cave Run Lake for activities like fishing, boating and camping as well as Carter Caves State Resort Park which features one of Kentucky's most impressive cave systems.
Morehead has an unemployment rate of 5.9%. The US average is 6.0%.
Morehead has seen the job market increase by 3.4% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Morehead
- The Sales Tax Rate for Morehead is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Morehead is 8.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Morehead
- The average income of a Morehead resident is $13,768 a year. The US average is $28,555 a year.
- The Median household income of a Morehead resident is $33,409 a year. The US average is $69,021 a year.