Friday, August 26, 2016

How Much Do $100 Buy in the United States?

The Tax Foundation created a map showing the value of goods that $100 can buy you in each of the states. Mississippians get the biggest bang for their buck. With $100 you get $115.34 worth of goods compared to the national average.
In California your $100 drop to just under $89 and in New York, the same $100 buy you $86.43 worth of goods compared to the rest of nation. With Manhattan and other leafy neighborhoods in NY and Los Angeles and San Francisco in CA, there are little surprises about some of the most expensive places to live.
Where do you get the least value for $100? In the District of Columbia, also known as Washington, DC. Residents of the nation’s capital lose over 15% in the value of their hard earned dollars.

The city’s current local minimum wage of $10.50 is well above the federal rate of $7.25. However, DC’s rate looks a little less comforting when viewed against how much it actually buys you. Compared to the national average, these $10.50 are worth about $8.90. No wonder the city just approved the next raise to $15 an hour.


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