The Real Value of $100 in Metro Areas?

[timo2]

Interactive map of how much $100 goes in a particular place. From the article;"In May, the U.S. Bureau of Economic Analysis released new data covering differences in purchasing power in different metropolitan and nonmetropolitan areas in 2016. In layman’s terms, the data compares how much $100 can buy in different regions of the country. This post focuses on comparing the purchasing power in different metropolitan areas around the country."

https://taxfoundation.org/real-valu...429206645&mc_cid=68de00f535&mc_eid=5de1fa6bcd

 

[W2R]

$105.04 here in New Orleans. Not bad!

 

[braumeister]

Moving in the right direction. Let's hear it for flyover country!!

Where I grew up: $82
Where I live now: $111

 

[Walt34]

$117.92 here in WV. Where we used to live near D.C. it's $83.96 - quite a difference! The biggest difference is land and housing costs. Groceries and fuel are a little less (maybe 10¢/gallon at best) so not enough to justify a move.

 

[timo2]

I went from $94.34 in the Denver area to $103.84 in ABQ. A slight improvement. I think a lot of people don't know how expensive the Denver area has become.

 

[Amethyst]

No surprise here...knew we lived in one of the most expensive areas in the U.S.

The much-cheaper prices others on the forum have quoted, for dental work and home repairs in particular, seem to me like they are from another country! Yet everywhere I've traveled across the U.S., grocery prices seem much the same.

 

[JoeWras]

Yet everywhere I've traveled across the U.S., grocery prices seem much the same.

Recently traveled the midwest. Nice hotel prices in Iowa. Surprisingly expensive groceries.

I concur.

 

[Golden sunsets]

Thank you timo for posting this.

 

[Red Badger]

Interesting. No big surprises, but confirms places I don't want to live.

 

[bclover]

LOL, I didn't need a map to tell me Philadelphia is high rent district.
83.00 bucks.

 

[RobbieB]

Out here in the central valley of CA, a hundred bucks is worth 102.

Not bad for a state everyone thinks is too expensive eh?

 

[Chuckanut]

Time for me to retire in Beckley, W. Va. A big raise and I don't have to have one dime more than I have now.

 

[Dtail]

I went from 81 to 100. Worth every penny to move south.

 

[FIREd]

$112 here. Pretty cheap living!

 

[NW-Bound]

$103 where I am. I can live with that.

I think the cost of living is driven mostly by home prices and the cost to rent. The cost of services probably varies a bit too.

Most consumer goods do not vary that much across the country due to the great transportation system that we have.

 

[Red Badger]

Not too surprisingly, here's another look at those states.


Visualizing U.S. Millionaires by State of Residence

 

[NW-Bound]

Not too surprisingly, here's another look at those states.

Visualizing U.S. Millionaires by State of Residence

The above Web site says MD has the highest percentage of millionaire households. Yet, the OP's site says that $100 buys $111.61 in MD, meaning the cost of living is low there.

How to reconcile the seeming contradiction?

Perhaps it means wealth disparity is high there?

PS. Answered my own question. The low-cost-of-living area is the rural area far from DC.

 

[RobbieB]

Yeah, rural - My town will be 100,000 population real soon, now at 90,000.

But there is a commercial ag operation less than a quarter mile from my front door.

I like it here.

 

[Amethyst]

Totally depends on what part of MD you live in. Mine is $93.00 and change.

Some areas of MD, being several hours away from the job mecca between Baltimore and NoVa, probably always will be cheap.

And again, some formerly rural counties have gotten a burst of affluence and home-building, due to road expansion that has somewhat eased the commute to job-heavy areas. Land developers control the MD state legislature, just as they do in any state where a lot of people want to live. Townhouses and condos are being thrown up (that's just the right verb for it) in places that used to be considered "no one would ever want to live here." In that way, it reminds me of Florida.

The above Web site says MD has the highest percentage of millionaire households. Yet, the OP's site says that $100 buys $111.61 in MD, meaning the cost of living is low there.

How to reconcile the seeming contradiction?

.

 

[LOL!]

It would have been nice to tell us exactly what "the goods" that the money was buying were. Often these analyses use goods that I would not buy such as a Starbucks coffee, a MacDonald's BigMac, a gallon of gasoline, or maybe the cost of a 5000 sq ft home.

I suppose "the goods" have to be things that one would probably only get locally, too, since Amazon and other internet sellers charge the same price no matter where one lives.

 

[Winemaker]

The last 10 days we spent near Fairfield CA, near Napa, CA. We purchased a large box of assorted veggies/fruits that we picked out and used/cooked with over the course of those 10 days, cost $20.01. The steaks, chicken, pork, seafood all seemed reasonable; now the wine budget, that was a different story.

 

[Offgrid Organic Farmer]

The above Web site says MD has the highest percentage of millionaire households. Yet, the OP's site says that $100 buys $111.61 in MD, meaning the cost of living is low there.

How to reconcile the seeming contradiction?

I see no contradiction.

Once you are free to move wherever you wish to move, go someplace cheap. Your money will stretch farther in a low COL area.

I live in the state with the highest percentage of retirees. When people see how cheap it is to live here, they migrate here. But generally as retirees.

 

[Walt34]

PS. Answered my own question. The low-cost-of-living area is the rural area far from DC.

Exactly. I used to live near D.C., and grew up there. The COL in MD varies dramatically, from very high in places like Bethesda, Chevy Chase, and Potomac, to very low in places like parts of the eastern shore and western MD.

 

[IMATERP]

Exactly. I used to live near D.C., and grew up there. The COL in MD varies dramatically, from very high in places like Bethesda, Chevy Chase, and Potomac, to very low in places like parts of the eastern shore and western MD.

As a former Arlingtonian (NoVA,) I also have to agree. Anything north of Frederick towards Hagerstown and west toward Martinsburg (West Va) skew the COL. By the way, I don't miss that area at all.

I

 

[NYEXPAT]

I was in NYC recently and the cost too go over the VN bridge (3 times) and the GW bridge ( 1 time) was $78.00!