40516 Lexington-Fayette, KY is an ideal place to live for those looking for affordable living. The 2 bedroom rent in this area is only $1,240 compared to the US average of $1,430. Additionally, the grocery cost index here is 98 versus 100 in the US making groceries more affordable than many other areas of the country. This city has many local companies that provide job opportunities such as IBM, Lexmark International Inc., Amazon Fulfillment Center and Valvoline Motor Oil. Additionally, there are plenty of educational and health care related jobs that can also be found here such as the University of Kentucky HealthCare and KentuckyOne Health. With its affordability and abundance of local businesses and job opportunities, 40516 Lexington-Fayette, KY is an excellent choice for anyone looking for a place to call home.
Lexington-Fayette (zip 40516) has an unemployment rate of 4.3%. The US average is 6.0%.
Lexington-Fayette (zip 40516) has seen the job market increase by 1.4% 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 40516)
- The Sales Tax Rate for Lexington-Fayette (zip 40516) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lexington-Fayette (zip 40516) 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 40516)
- The average income of a Lexington-Fayette (zip 40516) resident is $35,457 a year. The US average is $28,555 a year.
- The Median household income of a Lexington-Fayette (zip 40516) resident is $81,150 a year. The US average is $69,021 a year.