WEST PALM BEACH, Fla. – Sept. 2, 2014 – Contrary to some consumer perceptions, it's cheaper to live in Florida than most of the Mid-Atlantic and Northeast states, according to a Washington, D.C.-based think tank.
A study by the Tax Foundation showed that $100 in Florida buys $101.21 worth of goods, based on the national average. In the Northeast, only Pennsylvania, Rhode Island and Maine stretched their dollars further.
$100 in New York only buys $86.66 worth of goods, according to the report. The D.C. area is the nation's most expensive, with $100 only getting $84.60.
The figure is a statewide average. However, as the Clearwater Gazette reported, prices spike near cities, and Florida is no exception – but prices in and around Tampa are still cheaper than New York City and Boston.
The Tax Foundation's figures are based on housing costs, state income taxes and average price of goods in the area.
Florida is far from the biggest value. That honor goes to Mississippi, where $100 can get you almost $116 worth of stuff.
Copyright © 2014 The Palm Beach Post (West Palm Beach, Fla.), Michael Denison. Distributed by MCT Information Services.
Reprinted with permission. Florida Realtors®. All rights reserved