The Real Value of $100

How much is $100 really worth? $100 right? You would think so, but how come this is no longer a reality? How come each state has a different value of $100? Due to the varying average prices on similar goods in each state across the country, the same amount of money will buy you less in some states as compared to others. “Well this isn’t fair!” you may say, but it all has to do with the economic, political, and social conditions within each individual state that causes these fluctuations. States with a high cost of living and above average taxes such as California or New York cause the true value of $100 to be less than expected. 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). States also have different minimum wage requirements which can unevenly distribute wealth among the states and also cause the inflation seen in high-price states.

On the other hand, states that have more readily available resources, such as oil or crops, $100 tends to go further than most other states. That same $100 goes the furthest in Mississippi ($115.74), Arkansas ($114.16), Missouri ($113.51), Alabama (113.51), and South Dakota ($113.38). While some of these states have a lower standard of living, they are able to keep their average prices lower than the rest of the country. Have you wondered how much $100 will get you in your state relative to the rest of the country? Click the map below to see the relative value of $100 in each state. Does your state offer the biggest bang for your buck? (References: TaxFoundation.org)

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This article is brought to you by Wise Loan. Wise Loan offers installment loans in Texas and Utah and is the only lender that helps borrowers get a better future with cash back rewards for timely loan payoffs.

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