Reply
Esteemed Contributor
Posts: 6,848
Registered: ‎03-09-2010

What Is $100 Worth--it Depends on Where You Live

How Much Is $100 Worth State-By-State?

 

Taxes matter, both federal and state. And they can eat up more of your money than you might think. The Tax Foundation has released a map showing the real value of $100 in each state. Prices for the same goods are often cheaper in states like Missouri or Ohio than in states like New York or California. As a result, the same amount of cash can buy you more in a low-price state than in a high-price state.

 

Using 2014 data from the Bureau of Economic Analysis, the Tax Foundation adjusted the value of $100 to show how much it buys you in each state. For example, $100 in Ohio will buy you goods that would cost $111.98 in a state at the national average price level. In effect, Ohioans are therefore 11% richer!

 

Link to full article:  http://www.forbes.com/sites/robertwood/2016/08/05/how-much-is-100-worth-state-by-state/#27fd9f232a76

 

Link to STATE MAP:  http://taxfoundation.org/sites/taxfoundation.org/files/docs/%24100%20Map-state-01.png

The more I learn the more I realize how little I know.
Are you setting an example or being an example?
Respected Contributor
Posts: 3,513
Registered: ‎10-27-2010

Re: What Is $100 Worth--it Depends on Where You Live

Very interesting. Sibling rivalry: I have to tell my brother that my $100 is worth something like $20 more than his!

Honored Contributor
Posts: 20,143
Registered: ‎04-18-2012

Re: What Is $100 Worth--it Depends on Where You Live

There is a huge difference even in the same state, so I don't think these numbers really mean a thing. 

Don't Change Your Authenticity for Approval
Esteemed Contributor
Posts: 6,287
Registered: ‎01-24-2013

Re: What Is $100 Worth--it Depends on Where You Live

Ouch!!!
Esteemed Contributor
Posts: 6,848
Registered: ‎03-09-2010

Re: What Is $100 Worth--it Depends on Where You Live


@jaxs mom wrote:

There is a huge difference even in the same state, so I don't think these numbers really mean a thing. 


I guess that is why they use a "national average price level". 

The more I learn the more I realize how little I know.
Are you setting an example or being an example?
Honored Contributor
Posts: 16,253
Registered: ‎03-12-2010

Re: What Is $100 Worth--it Depends on Where You Live

[ Edited ]

$100 dollars in the state of Delaware will buy you absolutely zero. Maybe an inch of house. Average price of a 3 bedroom house is in the 300,000 range (that is around the area I live in).

Food prices are out of sight here. What we could purchase 6-9 months ago about 9 bags of groceries, we now get 4-5 bags of groceries. These are the plastic bags.

we are paying $2 bucks a gallon for gas (that is the last price I saw).

delaware is just getting natural gas. Propane is big here and they have blocked every which way to keep natural gas out. We pay $8.00 per BTU  for propane. Our development will never get natural gas, someone uncle owns the propane company (our development). Natural gas is finally coming below the canal, it will be many years till Delaware is set up for natural gas.

taxes in this state is not to bad for senior citizens. It is one of the better states for older people to retire. SS is not taxed yet (you never know what the new governor will do -- elected come November).

 

 

Honored Contributor
Posts: 9,139
Registered: ‎04-16-2010

Re: What Is $100 Worth--it Depends on Where You Live

Interesting though I don't know if I believe it or not, lol. Makes sense that this would be the case.

Honored Contributor
Posts: 17,892
Registered: ‎07-03-2013

Re: What Is $100 Worth--it Depends on Where You Live

[ Edited ]

 I think the map is reasonable.  I used to live in the yellow zone and now live in the pink zone.  Most things are cheaper here.

Honored Contributor
Posts: 9,139
Registered: ‎04-16-2010

Re: What Is $100 Worth--it Depends on Where You Live

@viva923Friends live in Seaford and a house in their community runs around $97,000. For $200 a month, they feed 4 people. Electricity isn't cheap, I know that. 

 

Funny thing, other friends bought a house in the same county but in an Over 55 community and paid $600,000 for it. Just goes to show that prices can vary wildly not only in the same state, but in the same county.

Honored Contributor
Posts: 16,253
Registered: ‎03-12-2010

Re: What Is $100 Worth--it Depends on Where You Live

I did forget about electrical.

 

Delaware is #4 on the list of 50 states and the MOST EXPENSIVE state for electricity.  For a 3 bedroom house I have we pay well over 3,000 a year (am multiplying in my head) this is a very small 3 bedroom house.  We do have central air, and keep that thermostat at 80 degrees summer and furnace temp at 60 for winter, we just wear very light clothes during summer and lots of heavy clothes for winter in the house.

 

the over 55 communities here are well into the 300-400,000 range homes. We have I believe 3 of the older communities here.