Study ranks states on how much $100 will buy.
[hed] How Far Does a Dollar Go in Florida in 2016?
[dek] Study ranks states on how much $100 will buy
It’s not too bad to be a Florida small business owner.
Still, your purchasing power may be greater in surrounding states.
An analysis from The Tax Foundation, based on statistics from the Bureau of Economic Analysis, says $100 in Florida actually buys nearly $100.91 worth of goods, because prices for goods are cheaper here than in places like New York and California.
But among neighboring states, Florida trailed Georgia ($108.70) and Alabama ($113.90)
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.
For more, read the BEA’s full news release.
Read the Tax Foundation’s nationwide map and overall analysis here.