Magoffin, KY County is an affordable area to live in compared to the US. Rent for a 2 bedroom apartment is only $740 per month. Furthermore, the cost of groceries in Magoffin is below the national average at 95 versus 100 in the US. Local businesses in Magoffin, KY County include Hy-Tech Mining Inc., Magoffin County Health Department, and Persinger Farms. All three businesses are well established in the county and offer goods and services that benefit many of its residents.
Magoffin County has an unemployment rate of 13.6%. The US average is 6.0%.
Magoffin County has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 0.7%, which is lower than the US average of 33.5%.
Tax Rates for Magoffin County
- The Sales Tax Rate for Magoffin County is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Magoffin County is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Magoffin County
- The average income of a Magoffin County resident is $19,451 a year. The US average is $37,638 a year.
- The Median household income of a Magoffin County resident is $29,615 a year. The US average is $69,021 a year.