If you're looking to stretch a dollar, you live in a good state.
The Bureau of Economic Analysis measures the cost of goods in each state, and recently published its data for prices in 2013. Using this data, the Tax Foundation adjusted the value of $100 to show how much it buys you in each state, compared to the national average.
In Georgia, $100 will buy you $108.81 worth of products.
Not too bad, unless you look at the state's neighbors. In Tennessee, $100 is really worth $110.38. In South Carolina, it's $110.50.
And in Alabama, you can stretch that $100 to get $114.03 in goods.
According to the Tax Foundation's analysis: "The states where $100 is worth the most are Mississippi ($115.21), Arkansas ($114.29), South Dakota ($114.16), Alabama ($114.03) and West Virginia ($113.12). In contrast, $100 is effectively worth the least in the District of Columbia ($84.96), Hawaii ($86.06), New York ($86.73), New Jersey ($87.34) and California ($89.05.)"
It's usually the case that states with higher prices offer higher incomes to compensate.
"This relationship is important, though it is not the only thing that matters," the Tax Foundation states.
"Some states, like North Dakota, have high incomes without high prices. Adjusting incomes for price level can substantially change our perceptions of which states are truly poor or rich.
"For example, Nebraskans and Californians earn approximately the same amount in dollars per capita, but after adjusting for regional price parity, Nebraskan incomes can buy more."
You can read the entire report from the Bureau of Economic Analysis here.
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