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 3.97% dw 4.14%  
15 Y Fixed Graph 3.05% dw 3.13%  
30 Y Fixed Jumbo Graph 4.28% dw 4.33%  
5/1 ARM Graph 3.06% dw 3.24%  
5/1 Jumbo ARM Graph 3.52% up 3.38%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.38% -- 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.63% -- 4.63%  
$50K Loan Graph 4.25% -- 4.25%  
$75K Loan Graph 4.25% -- 4.25%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.06% dw 3.07%  
36 M Used Graph 3.28% dw 3.29%  
48 M New Graph 3.04% dw 3.05%  
48 M Used Graph 2.95% dw 2.96%  
60 M New Graph 3.12% dw 3.13%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.62% up 0.61%  
5 yr Graph 1.52% -- 1.51%