Lexington, TN is a small city located in the southwestern part of the state. The area is a great place to live with affordable rent and cost of living. The two bedroom rent in Lexington, TN is approximately $950 per month which is significantly lower than the US average for 2 bedroom rent of $1,430. Similarly, the Grocery Cost Index in Lexington, TN is significantly lower than in the US at 93 versus 100. This makes it a great place to live for those on a budget.
The city has plenty to offer as well. The historical downtown area has numerous restaurants and boutiques that make exploring and shopping convenient and enjoyable. There are also several businesses that attract people from all over Tennessee such as State Farm Insurance, Hesser Toyota dealership, Walmart Supercenter, Target store, and Home Depot. Other tourist attractions include Beech Lake State Park and Beech River Winery. All of these factors make Lexington an ideal location to live and work.
Lexington has an unemployment rate of 5.2%. The US average is 6.0%.
Lexington has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Lexington
- The Sales Tax Rate for Lexington is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Lexington is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lexington
- The average income of a Lexington resident is $22,241 a year. The US average is $28,555 a year.
- The Median household income of a Lexington resident is $37,302 a year. The US average is $69,021 a year.