2023-06-10 07:00:00
It’s no secret that a $100 bill can be stretched much further in some states than others. Most people know you’ll get a lot more for your money in Mississippi than in Hawaii, but you might not realize just how much of a divide there can be between different states.
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To determine how far $100 will go in every state, GOBankingRates compiled data from the U.S. Bureau of Economic Affairs and also analyzed supplemental factors such as median household income, typical home values and annual cost-of-living expenditures to provide deeper insights into why $100 is worth more in some states than others.
This data is important because it can greatly impact your quality of life. You might be able to live comfortably in one state on a certain salary, but struggle to make ends meet with the same paycheck in another. For example, the median household income in Florida, Michigan and South Dakota is relatively similar. However, your dollar buys a lot more in Michigan than in Florida — and even more in South Dakota.
If you’re thinking regarding making a move, this information can help you choose a state that fits your budget. Financial health is a huge part of enjoying a happy, balanced lifestyle. Settling down in a state where you can realistically meet your financial goals sets you up for success. If you’re tired of living paycheck to paycheck, click through to learn which states allow you to get more for your dollar.
50. Hawaii
Real value of $100: $86.80
Median household income: $88,005
Typical home value: $966,545
Annual cost of living expenditures: $70,267
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49. California
Real value of $100: $88.20
Median household income: $84,097
Typical home value: $747,628
Annual cost of living expenditures: $51,463
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48. New York
Real value of $100: $90.50
Median household income: $75,157
Typical home value: $401,215
Annual cost of living expenditures: $48,825
47. New Jersey
Real value of $100: $90.90
Median household income: $89,703
Typical home value: $466,251
Annual cost of living expenditures: $39,894
46. Washington
Real value of $100: $91.10
Median household income: $82,400
Typical home value: $585,856
Annual cost of living expenditures: $40,318
45. Massachusetts
Real value of $100: $93.40
Median household income: $89,026
Typical home value: $584,901
Annual cost of living expenditures: $55,941
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44. Maryland
Real value of $100: $93.80
Median household income: $91,431
Typical home value: $399,433
Annual cost of living expenditures: $43,848
43. Alaska
Real value of $100: $95.60
Median household income: $80,287
Typical home value: $354,937
Annual cost of living expenditures: $45,618
42. (those) Colorado
Real value of $100: $97.00
Median household income: $80,184
Typical home value: $558,684
Annual cost of living expenditures: $36,759
41. (tie) Oregon
Real value of $100: $97.00
Median household income: $70,084
Typical home value: $498,120
Annual cost of living expenditures: $44,015
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40. Connecticut
Real value of $100: $97.40
Median household income: $83,572
Typical home value: $384,211
Annual cost of living expenditures: $40,652
39. New Hampshire
Real value of $100: $97.50
Median household income: $83,449
Typical home value: $449,352
Annual cost of living expenditures: $39,361
38. Virginia
Real value of $100: $97.70
Median household income: $80,615
Typical home value: $366,186
Annual cost of living expenditures: $35,988
37. Rhode Island
Real value of $100: $97.90
Median household income: $74,489
Typical home value: $426,464
Annual cost of living expenditures: $39,057
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36. (tie) Illinois
Real value of $100: $98.60
Median household income: $72,563
Typical home value: $244,772
Annual cost of living expenditures: $32,274
35. (those) Florida
Real value of $100: $98.60
Median household income: $72,563
Typical home value: $244,772
Annual cost of living expenditures: $32,274
34. Vermont
Real value of $100: $101.30
Median household income: $67,674
Typical home value: $333,884
Annual cost of living expenditures: $42,053
33. Texas
Real value of $100: $101.50
Median household income: $67,321
Typical home value: $299,094
Annual cost of living expenditures: $31,690
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32. Minnesota
Real value of $100: $101.60
Median household income: $77,706
Typical home value: $323,769
Annual cost of living expenditures: $33,430
31. Delaware
Real value of $100: $102.30
Median household income: $72,724
Typical home value: $358,962
Annual cost of living expenditures: $36,771
30. (those) Arizona
Real value of $100: $103.30
Median household income: $65,913
Typical home value: $422,689
Annual cost of living expenditures: $37,495
29. (tie) Maine
Real value of $100: $103.30
Median household income: $63,182
Typical home value: $355,439
Annual cost of living expenditures: $39,792
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28. Pennsylvania
Real value of $100: $103.60
Median household income: $67,587
Typical home value: $247,298
Annual cost of living expenditures: $33,965
27. Georgia
Real value of $100: $104.20
Median household income: $65,030
Typical home value: $311,237
Annual cost of living expenditures: $30,009
26. Nevada
Real value of $100: $104.50
Median household income: $65,686
Typical home value: $429,940
Annual cost of living expenditures: $37,503
25. Utah
Real value of $100: $105.40
Median household income: $79,133
Typical home value: $523,236
Annual cost of living expenditures: $35,634
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24.Michigan
Real value of $100: $105.70
Median household income: $63,202
Typical home value: $218,690
Annual cost of living expenditures: $31,631
23. North Carolina
Real value of $100: $106.20
Median household income: $60,516
Typical home value: $314,946
Annual cost of living expenditures: $33,190
22. South Carolina
Real value of $100: $106.30
Median household income: $58,234
Typical home value: $277,816
Annual cost of living expenditures: $32,120
21. Wisconsin
Real value of $100: $106.70
Median household income: $67,080
Typical home value: $266,558
Annual cost of living expenditures: $33,546
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20. Indiana
Real value of $100: $107.30
Median household income: $61,944
Typical home value: $225,212
Annual cost of living expenditures: $31,045
19. Ohio
Real value of $100: $107.50
Median household income: $61,938
Typical home value: $210,301
Annual cost of living expenditures: $30,961
18. Missouri
Real value of $100: $108.00
Median household income: $61,043
Typical home value: $230,265
Annual cost of living expenditures: $30,762
17. (tie) Nebraska
Real value of $100: $108.20
Median household income: $66,644
Typical home value: $247,303
Annual cost of living expenditures: $31,996
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16. (tie) Idaho
Real value of $100: $108.20
Median household income: $63,377
Typical home value: $444,321
Annual cost of living expenditures: $34,816
15. Montana
Real value of $100: $108.40
Median household income: $60,560
Typical home value: $437,276
Annual cost of living expenditures: $36,827
14. Wyoming
Real value of $100: $108.60
Median household income: $68,002
Typical home value: $325,043
Annual cost of living expenditures: $31,582
13. Louisiana
Real value of $100: $108.70
Median household income: $53,571
Typical home value: $185,548
Annual cost of living expenditures: $32,244
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12. Kansas
Real value of $100: $108.80
Median household income: $64,521
Typical home value: $211,737
Annual cost of living expenditures: $30,302
11. North Dakota
Real value of $100: $108.90
Median household income: $68,131
Typical home value: $247,713
Annual cost of living expenditures: $34,362
10. Tennessee
Real value of $100: $109.10
Median household income: $58,516
Typical home value: $295,026
Annual cost of living expenditures: $30,730
9. West Virginia
Real value of $100: $109.20
Median household income: $50,884
Typical home value: $150,672
Annual cost of living expenditures: $31,107
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8. Oklahoma
Real value of $100: $109.70
Median household income: $56,956
Typical home value: $193,251
Annual cost of living expenditures: $29,279
7. South Dakota
Real value of $100: $109.90
Median household income: $63,920
Typical home value: $287,737
Annual cost of living expenditures: $32,912
6. New Mexico
Real value of $100: $110.10
Median household income: $54,020
Typical home value: $282,904
Annual cost of living expenditures: $32,735
5. Iowa
Real value of $100: $110.40
Median household income: $65,429
Typical home value: $204,538
Annual cost of living expenditures: $30,499
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4. Arkansas
Real value of $100: $110.60
Median household income: $52,123
Typical home value: $177,660
Annual cost of living expenditures: $29,992
3. Kentucky
Real value of $100: $110.90
Median household income: $55,454
Typical home value: $192,081
Annual cost of living expenditures: $30,988
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2. Alabama
Real value of $100: $111.90
Median household income: $54,943
Typical home value: $205,597
Annual cost of living expenditures: $29,543
1. Mississippi
Real value of $100: $113.40
Median household income: $49,111
Typical home value: $164,965
Annual cost of living expenditures: $29,005
Jami Farkas and Grace Lin contributed to the reporting for this article.
Methodology: To determine how far $100 will go in every state, GOBankingRates compiled data from the U.S. Bureau of Economic Affairs 2021 Regional Price Parities release. GOBankingRates ranked the states from where $100 is worth the least to the most and provided supplemental factors such as median household income as sourced from the 2021 American Community Survey, annual cost-of-living expenditures as sourced from the Bureau of Labor Statistics: 2021 Consumer Expenditures and typical home value for a single-family residence as sourced from Zillow. All data was collected on and up to date as of June 1, 2023.
This article originally appeared on GOBankingRates.com: The Real Value of $100 in Every State
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