Oklahoma tops list for purchasing power on $100K salary

A six-figure salary stretches farther in Oklahoma than in any other state, according to recent data from the Bureau of Labor Statistics and the Missouri Economic Research and Information Center, published by GOBankingRates. 

Oklahoma ranked No. 1 for how far a $100,000 salary goes when measured against average annual expenses. The analysis found that $100,000 covers 129% of the state's average expenditures, which total $77,529 annually. The study used cost-of-living and expenditure data to compare all 50 states. 

Oklahoma’s cost-of-living index is 85.5, the lowest in the country. A score of 100 represents the national average. Lower grocery, transportation and housing costs contributed to Oklahoma’s top position. 

The state has the second-lowest housing index at 70.5 and the nation’s lowest transportation index at 86.7. Grocery costs rank just behind Arkansas, with an index of 95.7. Utilities are closer to the national average, ranking 20th lowest at 94.7. 

By comparison, Mississippi, Alabama and Missouri followed Oklahoma in the rankings, also benefiting from low living costs. In contrast, the study found that in 13 states, a $100,000 income is not enough to cover average annual expenses. 

The report highlights growing regional disparities in purchasing power as the cost of living continues to vary sharply across the U.S. For more details and the full state rankings, read the article here.