The Tax Foundation is back with an updated look at which state offers the biggest bang for your buck by adjusting the value of $100 by cost of living. For the record, South Dakota is pretty great, and by living here you can buy more with $100 than 92% of the county. That’s because we rank 4th with the real value of $100 sitting at $113.64.
Only three states rank higher than South Dakota; Mississippi, Arkansas, and Alabama. The top 5 states are:
- Mississippi – $115.34
- Arkansas – $114.29
- Alabama – $113.90
- South Dakota – $113.64
- Kentucky – $112.74
For comparison, Hawaii has the lowest real value of $100 at just $85.62. The bottom 5 states are:
- Hawaii – $85.62
- New York – $86.43
- New Jersey – $87.34
- California – $88.97
- Maryland – $90.66
See how the rest of the nation stacks up:
So enjoy your new-found wealth! I’m not saying go wild and make it rain. But next time you’re wandering the aisles of your local department store, and you pass the bargain blu-ray bin, don’t feel guilty about tossing one or two in your cart.
More about the Real Value of $100:
The Real Value of $100 measure was produced using the Bureau of Economic Analysis’ (BEA), regional price parities (RPP) which were released in early July. We did a little blog write-up on the most current release a couple weeks ago if you want to read up on RPP.
Related Article: South Dakota has 3rd Lowest Cost of Living (2015)