Sign in to comment!

Menu
Home

Spending

Which States Give You More for Your Money?

cash, money, hundred, bills

 (REUTERS)

How far can $100 get you? Well, the answer depends on which state you live in.

A new map from the Tax Foundation shows the “real value” of $100. Researchers Alan Cole, Lyman Stone and Richard Borean explain that since average prices for similar goods are higher in some states than in others, $100 is “worth” different amounts in various parts of the country.

For instance, the authors note that $100 is worth almost 40% more in Mississippi than in Washington, D.C. And if you make $40,000 after-tax in Kentucky, you’d need to make almost $15,000 more in D.C.  to enjoy the same lifestyle.

Here’s the “real value” of a Franklin in the five states where your money goes the furthest:

  • Mississippi: $115.74
  • Arkansas: $114.16
  • Alabama: $113.51
  • South Dakota: $113.38
  • West Virginia: $112.87

And the five states where it affords the least:

  • Washington, D.C.: $84.60
  • Hawaii: $85.32
  • New York: $86.66
  • New Jersey: $87.64
  • CA: $88.57

Follow Gabrielle Karol on Twitter @GabrielleKarol

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.85% up 3.83%  
15 Y Fixed Graph 2.97% up 2.96%  
30 Y Fixed Jumbo Graph 4.29% up 4.26%  
5/1 ARM Graph 3.13% up 3.11%  
5/1 Jumbo ARM Graph 3.83% up 3.44%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.43% up 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.56% up 4.54%  
$50K Loan Graph 4.20% -- 4.20%  
$75K Loan Graph 4.20% -- 4.20%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.08% -- 3.08%  
36 M Used Graph 3.29% -- 3.29%  
48 M New Graph 3.06% -- 3.06%  
48 M Used Graph 2.96% -- 2.96%  
60 M New Graph 3.13% -- 3.13%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.37% -- 0.37%  
1 yr Graph 0.61% -- 0.61%  
5 yr Graph 1.44% dw 1.48%