Berea, KY is a small town located in Madison County with a population of 13,561. It offers an affordable cost of living compared to the US average. The average 2 Bedroom rent in Berea is $790, significantly lower than the US's average of $1,430. Additionally, Berea’s Grocery Cost Index (96) is slightly lower than the national 100 index. Local businesses in Berea include Red Light Roastery Cafe & Coffee House which serves coffee and tea as well as homemade pastries; Antique Alley Antiques & Collectibles, a shop with antiques and collectibles; and 3rd Street Florist which offers flower arrangements for special occasions at reasonable prices. Overall the cost of living Berea is more economical than many other areas across the nation.
Berea (zip 40403) has an unemployment rate of 4.5%. The US average is 6.0%.
Berea (zip 40403) has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 30.7%, which is lower than the US average of 33.5%.
Tax Rates for Berea (zip 40403)
- The Sales Tax Rate for Berea (zip 40403) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Berea (zip 40403) is 8.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Berea (zip 40403)
- The average income of a Berea (zip 40403) resident is $26,415 a year. The US average is $37,638 a year.
- The Median household income of a Berea (zip 40403) resident is $53,036 a year. The US average is $69,021 a year.