$100 in Tennessee
Has a real value of $110.38. In Hawaii and New York, it's just over $86.
The Real Value of $100 in Each State
This week’s map shows the real value of $100 in each state. Prices for the same goods are often much cheaper in states like Missouri or Ohio than they are in states like New York or California. As a result, the same amount of cash can buy you comparatively more in a low-price state than in a high-price state.
The Bureau of Economic Analysis has been measuring this phenomenon for two years now; it recently published its data for prices in 2013. Using this data, we have adjusted the value of $100 to show how much it buys you in each state.
For example, Ohio is a low-price state. $100 there will buy you stuff that would cost $111.61 in a state closer to the national average. You could think of this as meaning that Ohioans are, for the purposes of day-to-day living, eleven percent richer than their incomes suggest.
The states where $100 is worth the most are Mississippi ($115.21) Arkansas ($114.29) South Dakota ($114.16) Alabama ($114.03) and West Virginia ($113.12). In contrast, $100 is effectively worth the least in the District of Columbia ($84.96) Hawaii ($86.06) New York ($86.73) New Jersey ($87.34) and California ($89.05.)
Regional price differences are strikingly large; real purchasing power is 36 percent greater in Mississippi than it is in the District of Columbia. 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.