July 20, 2015
The Tax Foundation followed up its study earlier in July about purchasing power compared across all 50 states by breaking down data across cities. According to its most recent findings, $100 doesn't go very far in Philadelphia, or most large cities in general.
Using data from the Bureau of Economic Analysis, the study looked at how much $100 is worth for consumers in metropolitan and nonmetropolitan areas throughout the U.S. compared to the national average.
EARLIER STORY: Study: $100 doesn't go very far in New Jersey
In Philadelphia, like many of its Northeast counterparts, that hundred bucks is worth quite a bit less. Compared to the national average, $100 is worth $92.68 in the Philadelphia/Camden/Wilmington greater metropolitan area.
That number is similar to many areas in South Jersey. In the Atlantic City/Hammonton area, $100 only gets you $92.85, and in Ocean City, it's only worth $92.25.
Philadelphia's number makes it by far the worst value in the state, where $100 is worth $101.42 across the commonwealth. However those South Jersey towns are actually better off than their Northern Neighbors, as the value of a hundred bucks in the New York City/Newark/Jersey City area is just $81.77.
Read more from the Tax Foundation and scan their interactive map here.
