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Jobs are abundant and unemployment rate is low. Local income tax rate though is very high.
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Lexington-Fayette has an unemployment rate of 4.3%. The US average is 6.0%.
Lexington-Fayette 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
- The Sales Tax Rate for Lexington-Fayette is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lexington-Fayette is 8.6%. The US average is 4.6%.
Moderator cut: link removed, competitor site
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Number three best cities with good salaries and low cost of living
Third safest US American cities
Top ten best city to live in
The third safest city in America to live in
read more here: https://www.lexingtonky.gov/economicdevelopment
Real Estate last I checked is cost is high for Kentucky, but its low by national standards.
A house is usually only on the market for three days before someone sells it, so it can be hard to find a place
in that short of time.
Prices have increased at the Grocery store-at least on somethings -but not everything, but it is really rare to see shortages. Lexington Jobs -Indeed
Jobs are abundant and unemployment rate is low. Local income tax rate though is very high.
Real Estate last I checked is cost is high for Kentucky, but its low by national standards.
A house is usually only on the market for three days before someone sells it, so it can be hard to find a place
in that short of time.
Prices have increased at the Grocery store-at least on somethings -but not everything, but it is really rare to see shortages. Lexington Jobs -Indeed
Among cities over 300,000 in population, the U.S. Census Bureau ranks Lexington as the 11th most highly educated in the nation (based on the 45% of the population 25 years or older holding at least a bachelor’s degree). Even more impressive, 19.3% of the population has a graduate or professional degree, ranking Lexington the 10th most highly educated city. https://locateinlexington.com/data-f...ted-workforce/
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Best Cities to raise a family
3. Lexington, KY – Lexington took third place overall on our list, ranking highest among cities in the South. Lexington scored well on a number of the economic indicators, like child care and housing costs, while it also had low high school dropout and violent crime rates https://www.zumper.com/blog/the-best...aise-a-family/
I guess on a negative side to the economy Lexington right now is the city with the second highest resignation rate in the US - but it could possibly be that there are so many extra job openings available elsewhere in the city...
(because the unemployment rate is still lower than the US average.)
Hi guys. How is the local economy in the Lexington area these days? How is the job market? How are real estate prices?
I see I haven't answered all of your questions...about real estate....
It's hard to answer, it's changing really quick...We were going to move to a different home, and got pre-approved for a mortgage at the first of the year...first houses were going too fast then the Fed's upped the percentage rates...and things were fluctuating so much, we just have decided to wait. Back then the average home in Lexington cost 150,000 -350,000....but it has probably changed...and it can vary significantly by zip codes/neighborhoods.
Over the years I have also worked with many people who commuted to Lexington from the surrounding towns
like Versailles, Nicholasville, Georgetown,Winchester, Mount Sterling, Richmond.....real estate prices are generally much lower in those places if you don't mind the commute..
Last edited by Crazee Cat Lady; 09-19-2022 at 08:00 AM..
What are the components of that 8.6% Lexington-Fayette city tax listed above? I’m reading online that Lexington’s occupational tax rate is only 2.25%.
Location: New Albany, Indiana (Greater Louisville)
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Sister had house that wasn't properly maintained just sell for 200k, bought for 83k in 1996. Based on level of development Lexington seems to be maintaining a robust but not extreme level of growth similar to what's been going on for decades.
If I remember correctly, according to the last census, Lexington leads KY in population growth and rising home and rent prices. In August of this year, home prices were 18.9% higher than last year at the same time. The average house is now $300,000.
Of course, all of this is available via google if one wants to check it.
Last edited by marino760; 09-19-2022 at 03:03 PM..
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