Here's how much $100 is worth in your state

Discussion in 'Too Hot for Swamp Gas' started by HallGator, Aug 19, 2014.

  1. orangeblueorangeblue
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    orangeblueorangeblue Well-Known Member

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    The median income of someone in New Jersey is more than $30K more than in Florida. That shakes out to $82 a day.
  2. RealGatorFan
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    I live in Birmingham and I showed a guy in San Fran the house I live in and then asked him if he could afford a 5,000 sq ft home on 7 acres in San Fran. He told me he can't even afford a 900 sqft apartment in San Fran and he's a Sr Engineer.

    To even think about a home in San Fran is to buy something hours away and commute to the city. The average price of a shack in San Fran just hit $1 Million in San Fran. I know you get a lot in return living there but to me it isn't worth spending $1 Million on a 3 bd 1 bath house with a yard the size of my deck. I've been able to woo a few people from California after educating them that not everyone pays that much for a house. It's amazing how so many people there have no idea that the cost of living is drastically different.
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  3. RealGatorFan
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    True, I could earn $110K there but the cost of buying a house and taxes far exceeds that $30K increase in salary. My brother lives in Massachusetts and his house about an hour south of Boston still cost much more than mine. His taxes are 6 times what mine is too. Yet, I earn the same amount as he does and he's a Network Admin Lead for a Fortune 100 company. I figure I need to make $200K there to keep the same lifestyle.
  4. gatorman_07732
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    gatorman_07732 Well-Known Member

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    Sorry to hear about your father. I'm in the same area and have no complaints. Have a really good school system and a good place to raise the kids.
  5. BigCroc
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    BigCroc Premium Member

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    All true - by the way, don't talk too many into moving to your area or the prices where you are will wind up looking more like the prices where they came from :).
  6. orangeblueorangeblue
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    orangeblueorangeblue Well-Known Member

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    Well there are calculators for this stuff, but I'd say there are some states where you just plain end up better than in others. Florida pays poorly but has very low taxes and cost of living. Compared to, say, Oregon where taxes are also low but salaries higher and cost of living higher (but not at a higher rate than Florida), it can be more lucrative to live there (or Washington).

    In other words, it's not a simple "higher wages = more expensive" proposition.
  7. wygator
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    wygator Well-Known Member

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    Taxes are the missing ingredient in this comparison. Wyoming comes in at only $103, mainly because of high rental demand right now due to growing energy extraction work.

    However, we have no state income tax, 4% sales tax, and property taxes are far lower than elsewhere. When we moved here from Florida, we bought a larger home and our property tax dropped by 2/3.

    Still, I too am one of those older guys who can't see the value is some things these days. In high school, I worked at Burger King. A whopper, fry and large drink (16 oz) was .99, including tax. Like the OP, it gripes me to pay $5 or more for a fast food meal. Can't help it...
    Last edited: Aug 20, 2014
  8. orangeblueorangeblue
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    orangeblueorangeblue Well-Known Member

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    Most states tend to balance income and sales taxes to get approximately the same state tax burden, or at least bottom line effect.
  9. NJG8tor
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    NJG8tor Well-Known Member

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    I think you had mentioned Monmouth County in the past, which is indeed (for the most part) a very nice place to live. Im talking primarily about the exorbitant COL compared to what you can find in other states. But for those for whom that isnt an issue, there is nothing wrong with it.
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    not sure what the point of this map is...yes a dollar can buy you more in certain states, but if you are an average resident living and working in that state, that dollar is a higher percentage of your income

    would be more meaningful if it were adjusted for income levels

    and, how would the map change if we took out the federal taxes that go from higher taxed states to lesser taxed states?
  11. gatorman_07732
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    gatorman_07732 Well-Known Member

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    No doubt the COL is huge. For some reason I thought you were from NJ but living somewhere else but I was mistaken.
    Yes, I'm at the Jersey Shore (Spring Lake).
  12. NJG8tor
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    NJG8tor Well-Known Member

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    I was at one point. But Ive been back for a while. And if Spring Lake is doable for you, I can see why you would have no complaints.
  13. goneagaingator
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    goneagaingator Well-Known Member

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    Only thing I can suggest is this: Costco. Or Sams. Or whatever blows your hair back, as far as buying in bulk goes. But $80 can pack you a lunch for a month. I work outside, so I probably burn between 1500-2500 calories per day (depending on what we're doing). I eat all the time.

    Before, we'd hit the gas station in the morning for breakfast and energy drinks, Subway or the McDonalds dollar menu for lunch, and be "stunned" later that we had spent almost 20 bucks a piece on food. It was ludicrous.

    But $100 will take you a long way at those wholesale clubs. You really can't lose.
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