L.A. is the most unaffordable rental market in the United States. And if you're lucky enough to be in the market to buy your own place, you're also facing some of the highest prices in the nation. Now comes word that the cash in your pocket has become less valuable simply because you're in California.
This week the Tax Foundation looked at U.S. Bureau of Economic Analysis data to determine how far $100 will get you in each state.
As you can imagine, we didn't do so well:
Relative to the national average, California made the list of five places (including Washington, D.C.) where that Benjamin would do the least damage: District of Columbia (where it would be worth $84.60), Hawaii ($85.32), New York ($86.66), New Jersey ($87.64), and California ($88.57).
Yeah, just living here costs you more than $11 each time you spend $100, the Tax Foundation says. Sounds like a reverse coupon.
The places where $100 would get you the most, interestingly, are largely Southern red states, according to the foundation:
Mississippi gets you $115.74 worth spending power for that hundred. Arkansas, Missouri, Alabama and South Dakota round out the list of bang-for-your-buck states.
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Of course, as we've said before, you'd actually have to live in or at least be in these places. (Shivers).
If you ask us, the extra $11 is worth it. Consider it cover charge for the greatest club in America.