SmartAsset has released its analysis of the Most Paycheck Friendly Places in Kentucky, seeing how far your paycheck stretches based on factors like income to cost of living ratio, unemployment rates, income growth and tax burdens.
The study ranks Hickman County at the top, with Oldham and Anderson counties close behind, giving Kentuckians an idea as to where their earnings can go the furthest.
The study considered four primary factors in finding out how far one’s paycheck goes in Kentucky:
- The semi-monthly paycheck, which is calculated for someone with two personal allowances using a median household income of $74,580.
- Purchasing Power Index: Reflects the ratio of household income to cost of living.
- Unemployment Rate Index: Counties with lower unemployment garner a better score
- Income Growth Index: Analyzes the five-year median income growth rate.
Below are the top 10 most paycheck-friendly places around the Commonwealth:
Hickman County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.43
- Unemployment Rate: 5.6%
- Income Growth: 12.5%
- Paycheck Friendly Index: 69.56
Oldham County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.63
- Unemployment Rate: 4.4%
- Income Growth: 4.9%
- Paycheck Friendly Index: 67.86
Anderson County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.40
- Unemployment Rate: 4.3%
- Income Growth: 6.2%
- Paycheck Friendly Index: 64.62
Grant County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.34
- Unemployment Rate: 5.0%
- Income Growth: 8.3%
- Paycheck Friendly Index: 64.50
Trimble County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.39
- Unemployment Rate: 4.9%
- Income Growth: 5.4%
- Paycheck Friendly Index: 62.77
Taylor County
- Semi-Monthly Paycheck: $2,308
- Purchasing Power: 1.34
- Unemployment Rate: 5.4%
- Income Growth: 11.6%
- Paycheck Friendly Index: 62.49
Lyon County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.38
- Unemployment Rate: 4.9%
- Income Growth: 5.0%
- Paycheck Friendly Index: 62.22
Bracken County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.23
- Unemployment Rate: 5.6%
- Income Growth: 8.2%
- Paycheck Friendly Index: 61.30
Meade County
- Semi-Monthly Paycheck: $2,338
- Purchasing Power: 1.38
- Unemployment Rate: 5.6%
- Income Growth: 5.0%
- Paycheck Friendly Index: 61.23
Spencer County
- Semi-Monthly Paycheck: $2,291
- Purchasing Power: 1.49
- Unemployment Rate: 4.3%
- Income Growth: 8.0%
- Paycheck Friendly Index: 60.91
How did Louisville stack up?
Jefferson County ranked 68th in the state and 2,868th nationally.
- Semi-Monthly Paycheck: $2,272
- Purchasing Power: 1.33
- Unemployment Rate: 4.7%
- Income Growth: 4.9%
This article appears in Nov 20 – Dec 3, 2024.
