Elkton, Kentucky is a small rural town located in Todd County close to the Tennessee border. Elkton has a population of just over 2,000 people and offers an affordable cost of living with 2 bedroom rent costing just $940 per month. Grocery costs are also relatively inexpensive with the local grocery cost index being 93 compared to the US average of 100.
Elkton is home to many businesses that serve the local community such as Sykes Hardware & Supply Co., The Photography Company, and Archer Funeral Home. Other businesses located in Elkton include Merle Norman Cosmetics, Hardison Floor Covering Co., Speedway Tire & Service Center, and Benchmark Recovery Center. All these companies provide services and goods for locals living in Elkton and its surrounding areas.
Elkton (zip 42220) has an unemployment rate of 3.8%. The US average is 6.0%.
Elkton (zip 42220) has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Elkton (zip 42220)
- The Sales Tax Rate for Elkton (zip 42220) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Elkton (zip 42220) 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 Elkton (zip 42220)
- The average income of a Elkton (zip 42220) resident is $17,720 a year. The US average is $28,555 a year.
- The Median household income of a Elkton (zip 42220) resident is $55,382 a year. The US average is $69,021 a year.