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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

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