Thursday, August 28, 2014

How much is $100 worth?

No, this isn't a trick question.  The answer depends on what State you live in:
A new map released by the Tax Foundation shows exactly how far $100 would go in all 50 states.

Using recently released data from the Bureau of Economic Analysis, the Tax Foundation was able to show exactly how the varying prices of goods, housing and income taxes in each state can impact consumers’ purchasing power.
Southerners and Midwesterners have a serious edge over those along the East and West Coasts. A hundred bucks goes the furthest in Mississippi, where $100 will buy you what would cost $115.74 in another state that's closer to the national average. As the Tax Foundation puts it, Missippians are about 15% richer than their nominal incomes suggest. The next low-price states are Arkansas ($114.16), Missouri ($113.51), and Alabama ($113.51). Meanwhile, $100 would only be worth $84.60 in the District of Columbia, the priciest state, $85.32 in Hawaii, $86.66 in New York and $87.64 in nearby New Jersey.
Blue States are expensive to live in and reduce your standard of living?  This is my shocked face ...


8 comments:

Old NFO said...

No surprises at all... and when you figure in the tax rates, it gets even worse!

deadmandance said...

And don't forget that it can vary a lot between areas in a state as well, especially bigger states.

waepnedmann said...

My step-son is a paramedic.
He lives in Tennessee and flies to Richmond, CA to work.
He worked in Marin County for awhile but asked to go back to Richmond. He said he prefers to deal with honest cardiac infarctions, GSWs, stabbings, and ODs instead of the Marinite who called the 'bolance because her boob job was infected.
Cost of living is MUCH lower in Tennessee plus he does not have to raise his kids in a sewer. He made it over the fence about fifteen years ago.

armedlaughing said...

Yeah, SHOCKED.

Not.

gfa

Jake (formerly Riposte3) said...

What deadmandance said. I bet Virginia's average is seriously skewed by the DC area. The difference in cost of living between Arlington and, say, Blacksburg or Danville is staggering.

Unknown said...

Would be more interesting if they included average income as well. Your money going %10-15 farther is nice, but if you make %30 less it's less impressive.

Jefferson Selvy said...

So, higher cost of living, lower quality of life and a Yankee infestation? Get out if you can

Rick C said...

If you click through, there's extra versions of the maps, broken down by MSA and also by county, and those of you who suggested the cities are more expensive are right.