The Purchasing Power of $100 in Each U.S. State
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While $100 may seem like it holds the same value across the U.S., that’s far from the reality. The purchasing power of a dollar can vary significantly from state to state, influenced by factors such as the cost of food, utilities, taxes, housing, and transportation.
This map illustrates the purchasing power of $100 by state, using data from GOBankingRates compiled as of February 19, 2024.
Methodology
GOBankingRates compiled data from the 2022 Regional Price Parities reoporting by the U.S. Bureau of Economic Affairs. It then used factors such as median household income, sourced from the 2022 American Community Survey, annual cost-of-living expenditures, sourced from the Bureau of Labor Statistics, and typical home value for a single-family residence, sourced from Zillow.
Money is Less Valuable in California
The purchasing power of $100 can vary by as much as 26% from state to state.
California has the lowest purchasing power ($87.50), while Arkansas has the highest ($113.40).
StateReal Value of $100
California$88
Hawaii$89
Washington$90
Massachusetts$91
New Jersey$91
New York$92
New Hampshire$92
Oregon$93
Connecticut$94
Maryland$95
Rhode Island$95
Colorado$98
Florida$98
Virginia$98
Alaska$98
Illinois$99
Vermont$99
Maine$99
Arizona$100
Delaware$102
Minnesota$102
Texas$103
Nevada$104
Pennsylvania$104
Georgia$104
Utah$106
North Carolina$106
South Carolina$106
Michigan$107
Wisconsin$108
Wyoming$108
Tennessee$108
Indiana$108
Idaho$108
Ohio$109
Missouri$109
New Mexico$109
Louisiana$109
Montana$110
Kansas$110
Nebraska$110
Kentucky$111
West Virginia$111
Oklahoma$111
North Dakota$111
Iowa$112
South Dakota$112
Alabama$112
Mississippi$113
Arkansas$113
National Average$103
Among the states where money has the least purchasing power are Hawaii, Washington, and Massachusetts.
On the other hand, Iowa, North Dakota, and Oklahoma join Arkansas as states where $100 stretches further.
Learn More on the Voronoi App
To see more content about money, check out this graphic that ranks the 10 best U.S. states to retire in as of 2024.
The post Mapped: The Purchasing Power of $100 in Each U.S. State appeared first on Visual Capitalist.