The Real Value of $100 in Every State
by Jennifer Taylor, GoBankingrates, June 9, 2023
It’s no secret that a $100 bill can be stretched much further in some states than others. Most people know you’ll get a lot more for your money in Mississippi than in Hawaii, but you might not realize just how much of a divide there can be between different states.
To determine how far $100 will go in every state, GOBankingRates compiled data from the U.S. Bureau of Economic Affairs and also analyzed supplemental factors such as median household income, typical home values and annual cost-of-living expenditures to provide deeper insights into why $100 is worth more in some states than others.
This data is important because it can greatly impact your quality of life. You might be able to live comfortably in one state on a certain salary, but struggle to make ends meet with the same paycheck in another. For example, the median household income in Florida, Michigan and South Dakota is relatively similar. However, your dollar buys a lot more in Michigan than in Florida — and even more in South Dakota.
If you’re thinking about making a move, this information can help you choose a state that fits your budget. Financial health is a huge part of enjoying a happy, balanced lifestyle. Settling down in a state where you can realistically meet your financial goals sets you up for success. If you’re tired of living paycheck to paycheck, click through to learn which states allow you to get more for your dollar.
Real value of $100: $86.80
Median household income: $88,005
Typical home value: $966,545
Annual cost of living expenditures: $70,267
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