What's a Dollar Worth Where You Live?

Monday, April 28, 2014

money, home, family, How far does a dollar goes across the country? (photastic/Shutterstock)

Where you live, what can you buy for $1.00? What kind of apartment can you rent for $1,000? What kind of house can you buy for $300,000?

According to new data from the Commerce Department's Bureau of Economic Analysis, a dollar buys the most goods and services in the state of Mississippi and the least in Washington, D.C., with Hawaii coming in at a close second.

That means that the national median salary of $53,046 has vastly different purchasing power depending on which state you call home. But what does this data mean when it comes to how people value location and affordability in choosing where to live or whether or not to move?

Joining The Takeaway to weigh in is Daniel Shoag, Assistant Professor of Public Policy at the Harvard Kennedy School of Government.

Guests:

Daniel Shoag

Hosted by:

Todd Zwillich

Produced by:

Ellen Frankman

Editors:

T.J. Raphael

Comments [4]

Amber Ceffalio from Brooklyn, NY

We, at Ditmas Park Corner, were wondering the same thing. What does $1 buy in our neighborhood. Although you can't find a cup of coffee for a dollar, you can buy a dinner plate. We were fascinated to find out the useful items that don't cost much. I'm also happy to know I can send my kids out with $1 and not $5 for an after school treat. Here is our story, if you're interested. http://ditmasparkcorner.com/blog/shopping/what-1-will-buy-you-in-ditmas-park

Apr. 30 2014 09:43 PM
Heidi from Bend OR

Bought a nice, 1500 sq ft house in Bend, OR, last year for $150K.

Apr. 28 2014 07:38 PM
Marian J. Barber, PhD from Austin, TX

This morning you read a reply from someone in Austin who said that $300,000 would buy a 5-bedroom house on the East Side or a 3-bedroom house "in a safe neighborhood." I have lived in East Austin for fourteen years and I can assure you that our wonderful, diverse neighborhoods are as safe as any in the city or the surrounding suburbs.

Apr. 28 2014 05:03 PM
Lindsay from long beach, ny

$1 buys a bagel with nothing on it or a can of soda
S1000 gets you one room in someone else's apartment
$300,000 gets you half of a house

Apr. 28 2014 03:36 PM

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