40940 Frakes, KY is a small community located in Bell County with a population of just over 2,000 people. It is a rural town with easy access to larger cities like Middlesboro and Pineville. The cost of living here is lower than the US average due to the low rental costs for 2 bedroom apartments, which are generally around $600 per month. Additionally, grocery cost index in 40940 Frakes, KY stands at 91 versus 100 in the US on average. This makes it an affordable area for families or individuals looking to save money while still living close to larger cities. \nThere are many local companies found in 40940 Frakes, KY such as Drake’s Pharmacy & Supply, Red Bird Mountain Country Store and J & P Market. Additionally, there are several restaurants found in this area including Ellerton Family Restaurant and Papa Bob's Pizza. For entertainment, visitors can find outdoor activities like kayaking at Crooked Creek Recreation Area or hiking at Campground Trailhead. In short, 40940 Frakes is a small town that offers plenty of amenities for its residents and visitors alike while still remaining affordable due to its low cost of living index.
Frakes (zip 40940) has an unemployment rate of 5.9%. The US average is 6.0%.
Frakes (zip 40940) has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Frakes (zip 40940)
- The Sales Tax Rate for Frakes (zip 40940) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Frakes (zip 40940) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Frakes (zip 40940)
- The average income of a Frakes (zip 40940) resident is $10,318 a year. The US average is $28,555 a year.
- The Median household income of a Frakes (zip 40940) resident is $17,330 a year. The US average is $69,021 a year.