How Far $100 Will Go in Each State? NoDak Fairs Pretty Darn Good or Move to Mississippi!
According to the Tax Foundation, the organization has a procedure that figures out how far your buck will go in each state. Simply put, How far will your $100 go?
How did they do that? According to The Huffington Post-
Using data from the Bureau of Economic Analysis, shows the real value of $100 adjusted to reflect average price levels in each state. In Mississippi, for instance, $100 would be enough to buy what would cost $115.74 in a place where prices are closer to the national average. In a pricey state like New York, $100 is only worth about $86.66.
Another factor is how many metropolitans cities are located in each state. The Gulf Coast faired well in the survey-
States on the Gulf Coast or the Mississippi River tend to be cheaper places to live because it's easy to ship goods there, Cole said. States that are more isolated from transportation networks, like Alaska and Hawaii, have to pay more to import goods, so things generally cost more.
The states that faired best include North Dakota ($110.62), South Dakota ($113.68), Iowa ($111.73), and Mississippi ($115.74).
I had to do a double check on that Mississippi figure. The complete list was published Wednesday.
(source- Huffington Post)