Drakesboro, KY is a small town located in Muhlenberg County. It is known for its rural charm and scenic views of the rolling hills. This quaint community has a variety of local businesses that offer goods and services to its residents. Popular stores include Fayette Grocery, Drakesboro Hardware Store, and Drakesboro Auto Parts. In addition to these shops, there are several restaurants such as Chili's Grill & Bar and Pizza Hut that offer delicious meals to the locals. The cost of living in Drakesboro is lower than the national average, with two bedroom rent averaging $660 compared to the US average of $1,430. Similarly, the grocery cost index is 91 versus 100 in the US. All in all, Drakesboro is an excellent place to live and work with its affordable costs and strong sense of community spirit.
Drakesboro has an unemployment rate of 6.9%. The US average is 6.0%.
Drakesboro has seen the job market decrease by -7.6% over the last year. Future job growth over the next ten years is predicted to be 16.3%, which is lower than the US average of 33.5%.
Tax Rates for Drakesboro
- The Sales Tax Rate for Drakesboro is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Drakesboro 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 Drakesboro
- The average income of a Drakesboro resident is $24,085 a year. The US average is $37,638 a year.
- The Median household income of a Drakesboro resident is $65,156 a year. The US average is $69,021 a year.