The Tax Foundation, a Washington DC based think tank recently released a map that shows and compares how much buying power $100 has for each state in the U.S. They compared the price of goods in each state with the national average based on data from the Bureau of Economic Analysis.
- In Texas,, $100 gives you the buying power of $103.63 compared to the national average
- The $103.63 in Texas is only worth $88.57 in California and $86.66 in New York.
- Texas is not just $3.63 better than the national average but $15 better than California and $17 better than New York
Based on those stats it’s no wonder that more and more people are moving to Texas from states where $100 does not go as far. The Economist 2010 Map has a nice diagram showing where people are moving from.
Other reasons why people are moving to Texas? Jobs & no state income taxes, PLUS high earning people from California and New York are able to move here and increase their take home income by 9% to 11%.