Morganfield, KY is a small town with a population of around 8,000. It is located in the western part of Kentucky near the state border of Indiana. Despite its small size, Morganfield has many amenities that make it an attractive place to live. The average two bedroom rent in Morganfield is $830 per month, which is significantly lower than the US national average of $1,430. Additionally, Morganfield's grocery cost index is 91 compared to the US's 100; this indicates that it may be cheaper to purchase groceries in Morganfield than elsewhere.
When it comes to local businesses, Morganfield boasts several companies such as B&H Motors and AutoSales, Finley's Heating & Air Conditioning Service Inc., Sunbury Nursing & Rehabilitation Center and ValuMarket Grocery Store. All these businesses contribute to the economic vitality of the city by providing jobs and services for its residents.
Morganfield has an unemployment rate of 4.4%. The US average is 6.0%.
Morganfield has seen the job market decrease by -1.1% over the last year. Future job growth over the next ten years is predicted to be 21.8%, which is lower than the US average of 33.5%.
Tax Rates for Morganfield
- The Sales Tax Rate for Morganfield is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Morganfield is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Morganfield
- The average income of a Morganfield resident is $18,921 a year. The US average is $28,555 a year.
- The Median household income of a Morganfield resident is $45,517 a year. The US average is $69,021 a year.