What Can You Get for $100 in New Jersey? According to the national Tax Foundation, it’s $88.34 worth of goods and services, at least compared to the national average.
That makes New Jersey the fourth most expensive state in the nation, according to the foundation’s analysis of federal data from 2016. Hawaii, California and New York were all more expensive than New Jersey as was the nation’s capital.
By contrast, $100 will go much farther in Mississippi, Alabama and Arkansas, where it will buy more than $115 worth of stuff. In fact, $100 is worth more in than its national average in 36 states.
“This has substantial implications for public policy, which is often progressive with respect to income,” writes policy analyst Erica York. “Many policies–like minimum wage, public benefits, and tax brackets–are denominated in dollars. But with different price levels in each state, the amounts aren’t equivalent in purchasing power.”