Mount Sterling, KY (40353) is a small city with a population of 6,307. It is located in the Bluegrass region of eastern Kentucky and offers its residents an affordable cost of living. The median two bedroom rent in Mount Sterling is $850, which is significantly lower than the US average rent for two bedrooms ($1,430). Additionally, the Grocery Cost Index (100 being the national average) in Mount Sterling is 96, also much lower than the national average. Residents in Mount Sterling can benefit from the local companies that provide goods and services to locals. Notable companies include: Randall Lumber & Building Supply, Henson’s Floor Covering and Cabinets Inc., and Collins Automotive Services LLC.
Mount Sterling (zip 40353) has an unemployment rate of 6.0%. The US average is 6.0%.
Mount Sterling (zip 40353) has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Mount Sterling (zip 40353)
- The Sales Tax Rate for Mount Sterling (zip 40353) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Mount Sterling (zip 40353) 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 Mount Sterling (zip 40353)
- The average income of a Mount Sterling (zip 40353) resident is $22,051 a year. The US average is $28,555 a year.
- The Median household income of a Mount Sterling (zip 40353) resident is $52,000 a year. The US average is $69,021 a year.