Two new maps from The Tax Foundation’s Tax Policy Blog.
This map shows the real value of $100 in each state. Prices for the same goods are often much cheaper in states like Missouri or Ohio than they are 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 Bureau of Economic Analysis has been measuring this phenomenon for two years now; it recently published its data for prices in 2014. Using this data, we have adjusted the value of $100 to show how much it buys you in each state.
Do people in Houston have the same purchasing power as those in Dallas? And of course, how does upstate New York fare against New York City?
To answer these questions, we’re following up with a new map of purchasing power that separates cities from non-metropolitan areas. Fortunately, that data is available from the BEA’s interactive tables, and we have created an interactive map of purchasing power down to the city level. Below, with this interactive map, you can mouse over your city to find out how far $100 gets you.
See Also: Real Personal Income for States and Metropolitan Areas, 2014 (via Bureau of Economic Analysis)
Source of data.