Planning of moving to Lexington, Kentucky? Well, if you prefer the daily grind and bustle of city life or the peace of nature. Tucked away within the Bluegrass area of the country, the city is renowned for its Southern charm and typical atmosphere sprinkled with lively music, great food, and vibrant nightlife.
Lexington, regarded as the “Horse Capital of the World,” is home to several Thoroughbred horse farms situated just outside the heart of the city in the rolling green hills. You can take a horse farm tour, visit any number of historical places, or sample some popular Kentucky Bourbon in many working distilleries on days when you’re ready for an escape to the peaceful countryside.
Guide Moving To Lexington, KY
Lexington is not only covered by stunning scenery, but it is also an inexpensive city to call home. The cost of housing is lower than the average in the US, and the economy is good. Chefs have put Lexington on the dining map with several independently owned restaurants, plus breweries, popular Kentucky whiskey, boutique shopping, and exciting leisure, all adding up to make Lexington a perfect place to feel at home.
To experience Historic Downtown, you don’t have to be a guest. Dream of being able to live in a town with a rich past like that. The largest and most powerful town west of the Allegheny Mountains was Lexington in the early 1800s. Homeowners continue to refer to Lexington for its cultured and educated environment as “The Athens of the West.” With 39.5 percent of residents holding at least a bachelor’s degree, Lexington has the distinction of being 10th among the nation’s cities for its college education pace. With so many lifestyle benefits, you would not regret moving to Lexington.
Moving to Lexington, KY?
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As Kentucky’s second-largest city after Louisville, Lexington has a population of almost 322,000 people. It ranks as the 60th largest city in the nation because of its population. Lexington is an hour and a half drive from either Louisville or Cincinnati and is located just northwest of the Daniel Boone National Forest. Lexington offers many opportunities to explore the city’s rich culture and history, as well as its mouth-watering Southern cuisine, in addition to its prime location.
In Lexington, the majority of the people are homeowners. The average home price of the town was $185,000 and this value is expected to increase by approximately 2.8 percent over the next year, according to Zillow.com. If you prefer to rent, however, as 41 percent of the population of Lexington does, the average rental price is $920.
Jamestown, Twin Oaks, Southeastern Hills, and Kenwood-Rockwood are some of the cheapest places to live in Lexington.
Cost of Living
TIn contrast to the US average, Lexington is an inexpensive city. The cost of living index is 95/100, which is 5 points below the national average. The cost of housing is 7 percent less than the average in the US. More accessible budget products would also be healthcare, groceries, and services, although the transportation cost at 101/100 is just 1 percent above the US average.
The Family Budget Calculator reports that in order to be able to pay the calculated $6,400 a month required for the following expenditures, a family of four residing in Lexington needs to raise around $76,700 a year: rent, food, childcare, transportation, health care, taxes, and other necessities. Since Lexington’s median income is $48,700, both parents will have to struggle to pay for these expenses comfortably.
Job Market and Economy: Moving to Lexington
Lexington’s unemployment rate is 3.3 percent, which is significantly less than the 3.9 percent national unemployment rate. The work market is on the rise, and a 1.4 percent job growth was experienced in 2018-19. It is estimated that Lexington’s work market will continue to see strong growth in the next decade.
Since Lexington is referred to as the “Horse Capital of the World,” in this Kentucky region, horses are a billion-dollar industry. As tobacco is widely grown and sold, agriculture is also an important sector of the economy. Healthcare, education, retail, and manufacturing are other top sectors. Lexmark International Inc., Toyota Motor Manufacturing, and the University of Kentucky are some of the major employers in the region.
Searching for the Kentucky Job Network is a good place to start if you’re looking for a job in or around Lexington.
You can make your dream of moving to Lexington, Kentucky, actually happen with the help of Wow Mover. Ask for a free quote today, and we’ll help you find the right moving company approved and insured to meet all your getting more information.