Richmond, KY is a city in Madison County with a population of 33,533. It has an average two-bedroom rent of $790, which is substantially lower than the US average of $1,430. Prices for groceries are also comparatively inexpensive since the Grocery Cost Index for the area is 97 compared to 100 for the US. Local companies offering groceries include Kroger, Walmart Supercenter, and Lowe's Foods. Other options are available through smaller shops like Stumbo's IGA Foodliner and Richmond Nature Food Center. All these businesses provide residents with easy access to affordable food items.
Richmond (zip 40475) has an unemployment rate of 4.9%. The US average is 6.0%.
Richmond (zip 40475) has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 33.2%, which is lower than the US average of 33.5%.
Tax Rates for Richmond (zip 40475)
- The Sales Tax Rate for Richmond (zip 40475) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Richmond (zip 40475) 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 Richmond (zip 40475)
- The average income of a Richmond (zip 40475) resident is $22,287 a year. The US average is $28,555 a year.
- The Median household income of a Richmond (zip 40475) resident is $55,762 a year. The US average is $69,021 a year.