Business

Breaking Down The Buck's Value Across The U.S.

Information compiled by nonprofit organization Tax Foundation indicates the value of $100 can fluctuate greatly state by state.

Breaking Down The Buck's Value Across The U.S.
Tax Foundation
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If you've got $100 in Mississippi, then congratulations! You're rich! One hundred dollars in Washington, D.C.? We're so sorry. Things aren't looking too good. 

Okay, that's not completely true, but thanks to data compiled by non-profit research group Tax Foundation, we now know your 'Benjamins' may go much further in one state, but not another.

This map by Tax Foundation breaks it down state by state. The top five places your money won't go as far are Washington, D.C. ($84.60), Hawaii ($85.32), New York ($86.66), New Jersey ($87.64) and California ($88.57). On the flip side, Mississippi ($115.74), Arkansas ($114.16), Missouri ($113.51), Alabama ($113.51) and South Dakota ($113.38) all boast being the top five states where $100 will go far. 

The organization used information from the U.S. Bureau of Economic Analysis to compile the data. Tax Foundation economist Alan M. Cole told The Huffington Post the reason for these fluctuations, in part, is due to land ownership. 

Cole wrote, "As people gather into densely-packed cities, the price of real estate in those cities rises as people and businesses compete for ownership of scarce land."

And if living in an expensive state isn't tough enough, we've got even worse news for New Yorkers. 

Remember that story just days ago about the national average cost of raising a child being on the rise? 

"Guardians will likely spend nearly a quarter of a million dollars on their children before they step foot on a college campus." 

Well, that cost is even higher in New York City. U.S. Department of Agriculture economist Mark Lino told the New York Post that cost could be about $500,000 for NYC parents. That's about twice as much as the national average. 

​So, what we're trying to get at here is life is expensive. Who knew?

This video contains images from Getty Images and Tax Foundation