40508 Lexington-Fayette, KY is a great place to live with a low cost of living. The average two bedroom rent in this area is only $950, compared to the national average of $1,430. Additionally, the Grocery Cost Index in 40508 Lexington-Fayette, KY is 93 compared to 100 nationally. This makes it easier for families to save money on everyday expenses. There are many local businesses in this area that residents can patronize, such as Kroger Groceries, Weis Markets or Lowes Foods. With its low cost of living and numerous shopping options, 40508 Lexington-Fayette, KY is an excellent location for people looking for a more affordable living situation.
Lexington-Fayette (zip 40508) has an unemployment rate of 4.3%. The US average is 6.0%.
Lexington-Fayette (zip 40508) has seen the job market decrease by -4.5% over the last year. Future job growth over the next ten years is predicted to be 37.8%, which is higher than the US average of 33.5%.
Tax Rates for Lexington-Fayette (zip 40508)
- The Sales Tax Rate for Lexington-Fayette (zip 40508) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lexington-Fayette (zip 40508) is 8.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lexington-Fayette (zip 40508)
- The average income of a Lexington-Fayette (zip 40508) resident is $19,998 a year. The US average is $37,638 a year.
- The Median household income of a Lexington-Fayette (zip 40508) resident is $26,924 a year. The US average is $69,021 a year.