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FLORIDA - A new study reveals that while $100,000 may seem like a high salary, its purchasing power is significantly reduced in Florida, with the state's cost of living and taxes leaving it worth just $80,695.
While a $100,000 salary may appear generous, it doesn’t stretch as far as you might think in Florida.
According to a new analysis from SEOSpace, shared by KDAF-TV, the purchasing power of $100,000 varies significantly across the United States when accounting for taxes and the cost of living.
The study evaluated the impact of federal and state taxes in 2024, then adjusted those figures to reflect each state's cost of living, including housing, food, and transportation.
The results reveal that Florida ranks among the states where $100,000 isn’t enough to maintain a comfortable lifestyle.
In Florida, the effective value of a $100,000 salary drops to just $80,695 once taxes and living costs are considered.
The state ranked 27th in the study, with its financial value lagging behind states like North Carolina, Minnesota, and Wisconsin.
States Where $100,000 Goes Furthest in 2024
The analysis highlights 10 states where your $100,000 salary will stretch the furthest:
- West Virginia
- Tennessee
- Kansas
- South Dakota
- Iowa
- Texas
- Mississippi
- Alabama
- Missouri
- Arkansas
These states offer a more affordable cost of living compared to Florida, making them more attractive for individuals seeking to maximize their salary.
On the other end of the spectrum, Hawaii stands as the state where $100,000 holds the least purchasing power.
Due to extremely high housing costs and a dependence on imported goods, $100,000 in Hawaii only has the same value as $41,482.