Posted on 09/08/2024 7:24:05 PM PDT by SeekAndFind
While $100 may seem like it holds the same value across the U.S., that’s far from the reality. The purchasing power of a dollar can vary significantly from state to state, influenced by factors such as the cost of food, utilities, taxes, housing, and transportation.
This map, via Visual Capitalist's Bruno Venditti, illustrates the purchasing power of $100 by state, using data from GOBankingRates compiled as of February 19, 2024.
GOBankingRates compiled data from the 2022 Regional Price Parities reoporting by the U.S. Bureau of Economic Affairs. It then used factors such as median household income, sourced from the 2022 American Community Survey, annual cost-of-living expenditures, sourced from the Bureau of Labor Statistics, and typical home value for a single-family residence, sourced from Zillow.
The purchasing power of $100 can vary by as much as 26% from state to state.
California has the lowest purchasing power ($87.50), while Arkansas has the highest ($113.40).
| State | Real Value of $100 |
|---|---|
| California | $88 |
| Hawaii | $89 |
| Washington | $90 |
| Massachusetts | $91 |
| New Jersey | $91 |
| New York | $92 |
| New Hampshire | $92 |
| Oregon | $93 |
| Connecticut | $94 |
| Maryland | $95 |
| Rhode Island | $95 |
| Colorado | $98 |
| Florida | $98 |
| Virginia | $98 |
| Alaska | $98 |
| Illinois | $99 |
| Vermont | $99 |
| Maine | $99 |
| Arizona | $100 |
| Delaware | $102 |
| Minnesota | $102 |
| Texas | $103 |
| Nevada | $104 |
| Pennsylvania | $104 |
| Georgia | $104 |
| Utah | $106 |
| North Carolina | $106 |
| South Carolina | $106 |
| Michigan | $107 |
| Wisconsin | $108 |
| Wyoming | $108 |
| Tennessee | $108 |
| Indiana | $108 |
| Idaho | $108 |
| Ohio | $109 |
| Missouri | $109 |
| New Mexico | $109 |
| Louisiana | $109 |
| Montana | $110 |
| Kansas | $110 |
| Nebraska | $110 |
| Kentucky | $111 |
| West Virginia | $111 |
| Oklahoma | $111 |
| North Dakota | $111 |
| Iowa | $112 |
| South Dakota | $112 |
| Alabama | $112 |
| Mississippi | $113 |
| Arkansas | $113 |
| National Average | $103 |
Among the states where money has the least purchasing power are Hawaii, Washington, and Massachusetts.
On the other hand, Iowa, North Dakota, and Oklahoma join Arkansas as states where $100 stretches further.
To see more content about money, check out this graphic that ranks the 10 best U.S. states to retire in as of 2024.
And I didn’t slow down until
I was almost to Arkansas
Being an Okie is OK. Deep red and less costly. Yay!
No way MN beats FL.
I have lived in both states, and I disagree here.
👍👍👍
Glad it wasn’t a test. I would have thought Hawaii would have been the worse by a long shot. Other factors being equal (and of course, they aren’t) transportation costs alone should hurt them. As far as other factors, they are a democrat hell hole, so they should get any positive traction based on policy.
Sweet Home, Alabama!
The problem for Alabama is the pay is much less so it actually ends up even with every other state.
GOBankingRates compiled data from the 2022 Regional Price Parities reoporting by the U.S. Bureau of Economic Affairs. It then used factors such as median household income, sourced from the 2022 American Community Survey, annual cost-of-living expenditures, sourced from the Bureau of Labor Statistics, and typical home value for a single-family residence, sourced from Zillow.
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What, no state and local taxes??? I daresay that when you factor in taxes from states like Taxifornia - your purchasing power with $100 probably drops to $75.00. Or less.
Ping for latter. I’m considering weather to go home to cheese head land, or back up up to Iowa, good people. Am In Missouri currently. There is a warrant out for my arrest for missing traffic court in Georgia. They have nothing better to do than fine Wisconsin boys and mandate them to appear in a Georgia court. Have had several cops laugh at this when I brought it to their attention.
I wonder if anyone tracks who is changing planes in ATL for stuff like that.
I know someone that didn’t know they had an outstanding warrant (literally for littering boiled peanut shells out a moving car sunroof in rural GA. Dumbest ticket ever.) when they came back into the country via ATL. Yeah, that wasn’t fun.
I made much higher than the national average in Alabama.
Useless information. Clickbait.
No apologies.
Not entirely accurate, CA less than Hawaii???, no way if you buy groceries in Hawaii, milk at $7 a gallon and rent is even worse in Hawaii than CA-list looks directionally ok
It’s based on 2 year old info.
I wonder the drop in purchasing power since then?
Though gasoline is magically getting cheaper pre election /s
This map/chart HIDES how bad the leftist states are. If CA were set to a 100, the top states would be 128.
That’s good. But many don’t. I’m glad you do though. Makes for a great comfortable life.
You did bring up Rural Georgia, not hard to get a stupid warrant out for your arrest there. To the prosecutors whim, you then have a warrant for arrest. I have one. Due to this, it is not honored in most states. Mine was issued for a traffic violation, I was a Wisconsin resident. Send me or give me the ticket on site. Stupid is as it does. I’m not coming to your court over a traffic violation from Wisconsin.
I’m not arguing that it’s not stupid, simply pointing out what happened to a friend of mine upon re-entering the country at ATL. The whole thing was completely stupid, a gross misuse of law enforcement.
Suppose, in 1970, your mom worked in the agricultural industry making $1 and hour. No overtime pay no matter how many hours she works.
After a week’s work she gets a paycheck, pays her bills and has a $10 left over. It represents TEN HOURS of her life.
With that $10 she could have gotten 50 gallons of gas or 40 hamburgers.
She places it in a book as a book mark and forgets where she placed it.
54 years later you inherit her goods and find the $10. It still represents TEN HOURS of her life, but now will only buy 3 gallons of gas and maybe one hamburger for herself.
That is inflation and the debasing of the US dollar by government.
If the US government falls, the paper money will be worthless as Confederate money.
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