What is the true value of $100? At first glance, you might think it’s simply worth $100, but the reality is more complex. Why does the value of $100 differ from one state to another? The answer lies in the varying prices of similar goods across the United States. Your $100 won’t stretch as far in some states as it will in others. But why is this the case? It’s a result of a combination of economic, political, and social factors unique to each state.
States with a high cost of living and above-average taxes, like California or New York, diminish the purchasing power of $100. 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). Additionally, varying minimum wage requirements further contribute to the wealth disparities among states and can lead to inflation in high-cost states.
Conversely, states blessed with abundant resources, such as oil or crops, make $100 go further than in most other states. In Mississippi ($115.74), Arkansas ($114.16), Missouri ($113.51), Alabama ($113.51), and South Dakota ($113.38), your $100 packs a more substantial punch. While some of these states may have a lower standard of living, they manage to maintain lower average prices compared to the national average.
Are you curious about the relative value of $100 in your state compared to others? Click on the map below to find out. Does your state offer the most value for your money? (Source: TaxFoundation.org)
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