Mortons Gap, KY is a small town located in Hopkins County with a population of just over 1,000 people. The cost of living in Mortons Gap is quite affordable compared to other areas in Kentucky and the rest of the United States. For example, the average rent for a two bedroom apartment is $760 per month while the US average rent for a two bedroom apartment is $1,430 per month. In addition to housing costs, grocery costs are also significantly lower than that of the national average; 91 versus 100 in the US. Due to its affordability there are a number of businesses that have taken root in Mortons Gap such as Bluegrass Energy Solutions and Stacy’s Cafe. These local companies make Mortons Gap an ideal place to live for those looking for an affordable lifestyle without sacrificing quality or service.
Mortons Gap has an unemployment rate of 5.3%. The US average is 6.0%.
Mortons Gap has seen the job market decrease by -4.7% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Mortons Gap
- The Sales Tax Rate for Mortons Gap is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Mortons Gap is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Mortons Gap
- The average income of a Mortons Gap resident is $20,118 a year. The US average is $37,638 a year.
- The Median household income of a Mortons Gap resident is $41,050 a year. The US average is $69,021 a year.