If you’ve ordered a cheeseburger or gotten a haircut in a major US city, you’ve likely noticed that the price of these services is more expensive than in other parts of the country. The difference is due to price level variation throughout the United States.
The Bureau of Economic Analysis (BEA) released data detailing the disparities in spending power across metropolitan and nonmetropolitan areas of each state for calendar year 2022. Using the data, we can compare how much $100 buys across the country.
The differences can be large, and they have significant implications for the relative impact of economic and tax policies across the United States. One hundred dollars tends to buy the least in large cities in the Northeast, California, and the Pacific Northwest. On the other hand, $100 goes the furthest in rural areas in the Southeast and Midwest. Prices can vary significantly within states too—$100 in Colorado tends to buy $98.00 worth of goods on average, but in the Denver area, $100 can purchase about $93.11 worth of goods and services.
It's not surprising at all to see the Land of Fruits and Nuts and the Garden State at the bottom of the heap. Juss' sayin'...
With Amazon, $ 100.00 is $ 100.00 no matter where you live.
100 bucks?
ReplyDeleteIs that BEFORE or AFTER or INCLUDING taxes?
If you make $100 bucks, but then pay 25% federal tax, 7% FICA, 5% state tax, and 10% sales tax, you really only have $53 to spend.
Us Hawaiians are really screwed.
ReplyDelete