In Ohio, purchasing power ranked No. 7 in the country.
A new report by the Tax Foundation calculated and ranked the relative value of $100 in each state. Ohio’s purchasing power ranked seventh in the country with the relative value of $100 totaling $112.49—an increase from last year’s No. 8 rank and relative value of $111.98.
According to the report, “prices for the same goods are often much cheaper in the more rural areas of states like Missouri or Ohio than they are around large cities in states like New York or California. As a result, the same amount of cash can buy you comparatively more in a low-price state than in a high-price state.”
The states where $100 is worth the most are Mississippi ($116.69), Arkansas ($115.61), Alabama ($115.34), West Virginia ($114.94), and Kentucky ($113.77).
The state where $100 is worth the least are Hawaii ($84.39), the District of Columbia ($85.54), New York ($86.36), California ($87.11), and New Jersey ($88.57).