Study ranks states on how much $100 will buy there.
How much is $100 worth? In Arizona, the answer is nearly $103, according to a new Tax Foundation analysis.
The nonpartisan research organization looked at Bureau of Economic Analysis statistics to determine how much $100 will buy you in each state. Because prices for goods are cheaper in states like Arizona than in places like New York, the same amount of cash can buy you comparatively more in Arizona.
That $100 will buy you only about $89 worth of goods in California, according to the study. On the other hand, New Mexico’s figure was a little over $105.
The state where $100 went the farthest was Mississippi, at $115.21, while the District of Columbia came in last at $84.96.
The study points out that, in general, high incomes and high prices for goods go together, but states like North Dakota manage to have high incomes without high prices.
To read the BEA’s full news release, click here.
For the Tax Foundation’s nationwide map and overall analysis, click here.
