Money goes further in some states than others.
The Tax Foundation released a map showing the relative value of $100 in every state compared with the national average using the data from the Bureau of Economic Analysis.
In expensive states like New York, you can afford comparatively less than average; in less expensive states like Mississippi, you can buy relatively more.
“Regional price differences are strikingly large; real purchasing power is 36 percent greater in Mississippi than it is in the District of Columbia,” writes the Tax Foundation. “In other words: by this measure, if you have $50,000 in after tax income in Mississippi, you would have to have after-tax earnings of $68,000 in the District of Columbia just to afford the same overall standard of living.”
Here’s the map:
The states with the largest relative value of $100 were:
- Mississippi ($115.21)
- Arkansas ($114.29)
- South Dakota ($114.16)
- Alabama ($114.03)
- West Virginia ($113.12)
The states with the smallest relative value of $100 were:
- District of Columbia ($84.96)
- Hawaii ($86.06)
- New York ($86.73)
- New Jersey ($87.34)
- California ($89.05)