A $100 bill can be stretched a lot further in some states than others. This is not a secret as most people know you can stretch that money more in let’s say Iowa than California or New York, the two top states where items cost much more. There is a big divide between some states and others.
GoBankingRates compiled data from the U.S. Bureau of Economic Affairs To determine how far $100 will go in every state and also analyzed supplemental factors such as median household income, typical home values, and annual cost-of-living expenditures to provide reasons why $100 is worth more in some states than others.
This data can make a great impact on your quality of life. There are certain states where you will be able to live comfortably on a certain salary, however, it would be a struggle to make ends meet with the same paycheck in other states. For example, the median household incomes in Florida, Michigan, and South Dakota are relatively similar. However, your dollar buys a lot more in Michigan or South Dakota than in Florida.
If you’re considering moving, this information can help you choose a state that fits your budget. Financial health is a huge part of enjoying a happy, balanced lifestyle. Settling down in a state where you can realistically meet your financial goals sets you up for success.
Now let’s see how $100 fares in the state of Nevada. It ranks as the 26 state in terms of rating. The real value of $100 in our state is $104.50. Our median household income is $65,686 and the median home value is $429,940. The annual cost of living expenditures is $37,503.
Nevada offers more great things to do than any other state, whether you are in the southern or northern part of the state – and we do not have hurricanes, tornadoes, or major earthquakes. Plus Nevada has beautiful desert and mountain views.
The states that came in the top three for the value of $100 dollars are Kentucky at number three, Alabama in the second spot and the state where you get the most bang for your buck is Mississippi. $100 is worth $113.49.
Keep in mind that whether you are interested in buying a home or selling a home, a Realtor should represent you– this person is working for your benefit and will help you navigate through the buying or selling process. We have celebrated selling both New and Resale Homes for over thirty years…..
We are here to answer any questions you might have – just email jennifer@smithteamlasvegas.com
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Thanks and make it a terrific day…………The Smith King Team
