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Esteemed Contributor
Posts: 6,116
Registered: ‎03-09-2010

The Real Value of $100 in Each State

This week’s tax map shows the real value of $100 in each state. Because average prices for similar goods are much higher in California or New York than in Mississippi or South Dakota, the same amount of dollars will buy you comparatively less in the high-price states, or comparatively more in low-price states. Using data from the Bureau of Economic Analysis that we’ve written about previously, we adjust the value of $100 to reflect how prices are different in each state.

 

For example, Tennessee is a low-price state, where $100 will buy what would cost $110.25 in another state that is closer to the national average. You can think of this as meaning that Tennesseans are about ten percent richer than their nominal incomes suggest.

 

The states where $100 is worth the least are the District of Columbia ($84.60), Hawaii ($85.32), New York ($86.66), New Jersey ($87.64), and California ($88.57). That same money goes the furthest in Mississippi ($115.74), Arkansas ($114.16), Missouri ($113.51), Alabama (113.51), and South Dakota ($113.38).

 

More + map:  http://taxfoundation.org/blog/real-value-100-each-state

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Honored Contributor
Posts: 16,574
Registered: ‎10-04-2011

Re: The Real Value of $100 in Each State

Marp,  thanks for that.  Confirms what I thought about Jersey.

You can take the girl out of Jersey, but you can't take Jersey out of the girl. Jersey Girl living in CNY.
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Trusted Contributor
Posts: 1,146
Registered: ‎06-15-2015

Re: The Real Value of $100 in Each State

Thank You Marp. Very interesting.
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Respected Contributor
Posts: 2,674
Registered: ‎03-09-2010

Re: The Real Value of $100 in Each State

The living in California isn't cheap, that's for sure!

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Respected Contributor
Posts: 4,682
Registered: ‎03-11-2010

Re: The Real Value of $100 in Each State

I live in southern Calif. and never use the heater - and have no air conditioning - in my home. I wear the same type of clothes all year round - don't own a coat, boots, etc. My utilities bills are quite low. You have to figure in ur total expenses for the year, doesn't depend on which area of the country u live.

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Honored Contributor
Posts: 52,182
Registered: ‎03-29-2012

Re: The Real Value of $100 in Each State

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Esteemed Contributor
Posts: 5,758
Registered: ‎03-09-2010

Re: The Real Value of $100 in Each State

We're a little over the $100.00 in our state.

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Honored Contributor
Posts: 11,937
Registered: ‎03-09-2010

Re: The Real Value of $100 in Each State

It also depends where you actually live in those states -   at least that's true in NY and FL where I have personal experience.

 

I remember years ago when  a colleague of mine quit teaching to go to work for NYS in environmental control.  He asked to be assigned upstate becasue the state paid the same salary wherever you worked, but living costs on Long Island are far above those north and west of NYC.

 

Same is true in Florida -  it's more expensive to live in the southern part of the state than it is in most of the places in central and northern Florida.

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Respected Contributor
Posts: 3,456
Registered: ‎03-09-2010

Re: The Real Value of $100 in Each State

 

Interesting......thanks Marp.

 

I think Long Island is probably even lower.....I'm guessing the amount is a state average?

"People with closed hearts will always feel as though they are at war with the world." ~My friend Nancy
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Honored Contributor
Posts: 35,886
Registered: ‎03-12-2010

Re: The Real Value of $100 in Each State

Whatever $100 is worth, I'm not picky or boozshy. I would not say no to a $100 bill. Lol
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