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Title: Mapping The Shocking Purchasing Power Disparity Of $100 In Each US State
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URL Source: https://www.zerohedge.com/personal- ... er-disparity-100-each-us-state
Published: Sep 8, 2024
Author: Tyler Durden
Post Date: 2024-09-08 22:56:19 by Horse
Keywords: None
Views: 203
Comments: 1
While $100 may seem like it holds the same value across the U.S., that’s far from the reality. The purchasing power of a dollar can vary significantly from state to state, influenced by factors such as the cost of food, utilities, taxes, housing, and transportation. This map, via Visual Capitalist's Bruno Venditti, illustrates the purchasing power of $100 by state, using data from GOBankingRates compiled as of February 19, 2024. Methodology GOBankingRates compiled data from the 2022 Regional Price Parities reoporting by the U.S. Bureau of Economic Affairs. It then used factors such as median household income, sourced from the 2022 American Community Survey, annual cost-of-living expenditures, sourced from the Bureau of Labor Statistics, and typical home value for a single-family residence, sourced from Zillow. Money is Less Valuable in California The purchasing power of $100 can vary by as much as 26% from state to state. California has the lowest purchasing power ($87.50), while Arkansas has the highest ($113.40). Poster Comment: My state is at $108 which is why I moved here from California the day I retired.
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