Prestonsburg, KY is a small town located in Floyd County with a population of 2,566 according to the 2010 census. The cost of living in Prestonsburg is relatively low compared to the US: rent for a two-bedroom apartment is $740, which is substantially lower than the US average of $1,430; additionally, the Grocery Cost Index in Prestonsburg is 98 compared to 100 nationally.
The city has several local businesses such as Prestonsburg Insurance Agency, Prestonsburg Printing Company and Big Sandy Medical Center that provide essential services for residents. These companies help bring economic development to the area and provide employment opportunities for people living in or near Prestonsburg. The low cost of living makes it easier for people to afford basic necessities such as rent and food while still having enough left over to save for future investments or other expenses.
Prestonsburg has an unemployment rate of 7.5%. The US average is 6.0%.
Prestonsburg 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 Prestonsburg
- The Sales Tax Rate for Prestonsburg is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Prestonsburg is 7.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Prestonsburg
- The average income of a Prestonsburg resident is $20,512 a year. The US average is $37,638 a year.
- The Median household income of a Prestonsburg resident is $31,818 a year. The US average is $69,021 a year.