Study ranks states on how much $100 will buy
How Far Does a Dollar Go in New York in 2016?
A dollar doesn’t go very far in New York—something the state’s
small business owners have known for a long time.
An analysis from The Tax Foundation, based on statistics from
the Bureau of Economic Analysis, says $100 in New York actually buys only $86.43 worth of goods, far less
than in states such as Mississippi, where the same amount purchases
$115.34.
New York was the third most expensive state nationally,
trailing only D.C. ($84.67) and Hawaii ($85.62).
Leading the country was Mississippi, where $100 would buy about
$115.34 worth of goods, while the District of Columbia came in last, at $84.67.
The study points out that, in general, high incomes and high
prices for goods go together, but states like Nebraska manage to have high
incomes without high prices.
The study points out that, in general, high incomes and high
prices for goods go together, but states like Nebraska manage to have high
incomes without high prices.
For more, read the BEA’s full news release.
Read the Tax Foundation’s nationwide map and overall analysis here.
