One would think that $100 in any state would be worth the same amount, but that's not true. Money throughout the United States is not equal. According to the Sun Sentinel on Wednesday, for the very first time the federal government has released an analysis of the price differences among states. The Tax Foundation used the data to create a map exposing the real value of $100 in each state.
The cost of living is not the same in all 50 states; therefore, a dollar can go a lot further in some states than in other states. For instance, since Tennessee is a low-price state, $100 will buy what would cost $110.25 in another state that is closer to the national average. You can think of this as meaning that Tennesseans are about ten percent richer than their nominal income suggests. Money goes furthest in Mississippi where $100 is equal to $115.17. Arkansas offers the next biggest bang for your buck, followed by Missouri, Alabama and South Dakota.
Generally speaking, you get less bang for your buck in the northeast region, while the southern states appear to be more generous. For example, in Alabama $100 will get you products or services that would cost $113.51 in a state that's closer to the national average. In states like California and New Jersey, however, that same $100 will get you much less.
The states where $100 is worth the least are the District of Columbia ($84.60), Hawaii ($85.32), New York ($86.66), New Jersey ($87.64), and California ($88.57). That same money goes the furthest in Mississippi ($115.74), Arkansas ($114.16), Missouri ($113.51), Alabama (113.51), and South Dakota ($113.38).
This writer lives in Virginia, and $100 for her is worth only $96.90 which is still more than in Maryland where her relatives live. Their Benjamins are worth only $89.85. If you want to know how much $100 is worth in your state, click here.