LANHAM, Md. (WNEW) — Where is $100 not actually $100? In the District of Columbia.
When a D.C. resident spends $100, they get only $84.60 in actual value — the least amount in the country, according to a report from the Tax Foundation. The discrepancy represents the high cost of living that is associated with living in the nation’s capital.
Maryland isn’t much cheaper to live in: residents there can buy $89.85 worth of stuff with their $100 bill. In Virginia, residents can spend $100 and get almost equal value at $96.90.
Other states where $100 is worth the least are Hawaii ($85.32), New York ($86.66), New Jersey ($87.64), and California ($88.57).
Mississippi is the best bang-for-your-buck state, where $100 will buy $115.74 worth of goods. That same money goes the furthest in Arkansas ($114.16), Missouri ($113.51), Alabama (113.51), and South Dakota ($113.38).
The Tax Foundation, the non-partisan, conservative leading think tank, used data from the Bureau of Economic Analysis to adjust the U.S. average value of $100 to reflect how prices are different in each state.
(Click on the image to enlarge)
More From Washington
- 3 Killed, 2 Wounded at Maryland Office Park Shooting
- Metro to Extend Late-Night Service for Nationals-Cubs Game
- Arrest Made in Racist Threats Directed at Howard University
- University of Maryland Gets $220M Gift for More Scholarships