Finance

10 Expensive US Locations Where $100 Is Worth the Least


Ismailciydem / Getty Images

Ismailciydem / Getty Images

Inflation, high costs of living and soaring rates have all put a dent in many Americans’ savings. And in some locations across the country, the toll on consumers’ finances is further aggravated by the fact that $100 is not worth as much as it could be in other cities.

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To see how far $100 will go in America’s most expensive places, GOBankingRates compiled data from the U.S. Bureau of Economic Affairs 2022 Regional Price Parities release.

Findings show that eight out of the top 10 cities in which $100 is worth the least are in one state: California. The top 10 locations are Washington state and the tri-state area of New York-Pennsylvania-New Jersey.

“These figures are not surprising. It’s both a supply and demand story,” said Jason Sorens, American Institute for Economic Research senior fellow. “In terms of demand, Massachusetts, New Jersey, and California have some of the highest income metro areas in the U.S.’

In addition, Sorens said that these states also have some of the country’s strictest zoning regulations, making it difficult to build housing.

Here are the 10 U.S. locations where $100 is worth the least.

Michael Edwards / iStock.comMichael Edwards / iStock.com

Michael Edwards / iStock.com

What Other Factors Are Driving High Costs?

Additional drivers contribute to the fact that $100 doesn’t stretch as far in some cities.

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“The main drivers are the costs of housing and childcare. These are the top costs in the country in these areas, said home equity expert Michael Micheletti, chief communications officer of Unlock Technologies.

In terms of housing, there are several factors, he said: if you bought a home recently, you’re faced with high mortgage costs. In addition, the rising costs of property taxes and home insurance in these areas are among the highest in the country, he added.

“Families may have increased pressures, too, with the rising costs of childcare in these areas,” added Micheletti. “If you have to navigate both housing and childcare costs, your dollar is simply not going to go as far.”

Finally, taxes can also play a significant role in the cost of living in these states, as these states tend to have higher state-level taxes, said Michael Collins, CFA, founder and CEO, WinCap Financial.

“Some examples of the types of taxes people will pay are, property tax, sales tax, and state level income tax,” he said.

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Jorge Villalba / Getty ImagesJorge Villalba / Getty Images

Jorge Villalba / Getty Images

San Francisco-Oakland, CA ($82.11)

  • Median household income: $129,315

  • Typical home value: $1.27 million

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Pictured: San Francisco

Sundry Photography / Shutterstock.comSundry Photography / Shutterstock.com

Sundry Photography / Shutterstock.com

San Jose-Sunnyvale-Santa Clara, CA ($84.74)

  • Median household income: $151,713

  • Typical home value: $1.76 million

Pictured: Sunnyvale, CA

Jon Bilous / Shutterstock.comJon Bilous / Shutterstock.com

Jon Bilous / Shutterstock.com

Santa Cruz-Watsonville, CA ($85.30)

  • Median household income: $104,409

  • Typical home value: $1.21 million

Pictured: Santa Cruz, CA

DutcherAerials / Getty Images/iStockphotoDutcherAerials / Getty Images/iStockphoto

DutcherAerials / Getty Images/iStockphoto

San Diego-Chula Vista-Carlsbad, CA ($85.49)

  • Median household income: $96,974

  • Typical home value: $1.08 million

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Pictured: San Diego

RolfAasa / Getty Images/iStockphotoRolfAasa / Getty Images/iStockphoto

RolfAasa / Getty Images/iStockphoto

Oxnard-Thousand Oaks-Ventura, CA ($85.61)

  • Median household income: $102,141

  • Typical home value: $905,351

Pictured: Thousand Oaks, CA

S.Borisov / Shutterstock.comS.Borisov / Shutterstock.com

S.Borisov / Shutterstock.com

Santa Maria-Santa Barbara, CA ($86.06)

  • Median household income: $92,332

  • Typical home value: $1.05 million

Pictured: Santa Barbara, CA

benedek / iStock.combenedek / iStock.com

benedek / iStock.com

Seattle-Tacoma-Bellevue, WA ($86.32)

  • Median household income: $107,206

  • Typical home value: $793,851

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Pictured: Seattle

frankpeters / Getty Imagesfrankpeters / Getty Images

frankpeters / Getty Images

Los Angeles-Long Beach-Anaheim, CA ($86.89)

  • Median household income: $89,105

  • Typical home value: $1.01 million

Pictured: Los Angeles

MattGush / iStock.comMattGush / iStock.com

MattGush / iStock.com

Salinas, CA ($86.94)

  • Median household income: $91,043

  • Typical home value: $854,830

OlegAlbinsky / Getty Images/iStockphotoOlegAlbinsky / Getty Images/iStockphoto

OlegAlbinsky / Getty Images/iStockphoto

New York-Newark, PA-Jersey City, NJ ($86.95)

  • Median household income: $93,610

  • Typical home value: $679,214

Pictured: New York

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This article originally appeared on GOBankingRates.com: 10 Expensive US Locations Where $100 Is Worth the Least



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