Economy

$1 Is Worth 86 Cents in Hawaii, Less Than Any Other State

Thinkstock

The cost of a home, food, transportation, fuel and clothing. The total of these state to state, particularly when income is taken into account, vary widely, making $1 stretch much more or less, depending on location. In Hawaii, the value of $1, based on the national average, is worth only $0.86. The state also has a median household income of $69,592, the fifth highest among the states. And the poverty rate in Hawaii is 11.4%, the seventh lowest.

In its “The Value of a Dollar in Every State,” 24/7 Wall St. ranked the states on “the national average cost of goods and services.” Hawaii had the lowest dollar comparison and Mississippi the highest at $1.15.

A look at the analysis, starting with the top and bottom:

50. Hawaii
> Value of a dollar:
$0.86
> Chg. in value of dollar 2008-2013: +9.3% (8th largest)
> Median household income: $69,592 (5th highest)
> Poverty rate: 11.4% (7th lowest)

And:

1. Mississippi
> Value of a dollar:
$1.15
> Chg. in value of dollar 2008-2013: +7.0% (16th smallest)
> Median household income: $39,680 (the lowest)
> Poverty rate: 21.5% (the highest)

The full rankings of the value of a dollar in all 50 is as follows:

Honolulu Waikiki Beach, Hawaii
Thinkstock

50. Hawaii
> Value of a dollar:
$0.86
> Chg. in value of dollar 2008-2013: +9.3% (8th largest)
> Median household income: $69,592 (5th highest)
> Poverty rate: 11.4% (7th lowest)

New York City, New York 2
Thinkstock

49. New York
> Value of a dollar:
$0.87
> Chg. in value of dollar 2008-2013: +7.3% (25th smallest)
> Median household income: $58,878 (16th highest)
> Poverty rate: 15.9% (19th highest)

Atlantic City, New Jersey 2
Thinkstock

48. New Jersey
> Value of a dollar:
$0.87
> Chg. in value of dollar 2008-2013: +6.0% (7th smallest)
> Median household income: $71,919 (2nd highest)
> Poverty rate: 11.1% (4th lowest)

Los Angeles, California 2
Thinkstock

47. California
> Value of a dollar:
$0.89
> Chg. in value of dollar 2008-2013: +8.3% (14th largest)
> Median household income: $61,933 (9th highest)
> Poverty rate: 16.4% (17th highest)


Annapolis, Maryland
Thinkstock

46. Maryland
> Value of a dollar:
$0.90
> Chg. in value of dollar 2008-2013: +6.9% (15th smallest)
> Median household income: $73,971 (the highest)
> Poverty rate: 10.1% (2nd lowest)

Hartford, Connecticut
Thinkstock

45. Connecticut
> Value of a dollar:
$0.92
> Chg. in value of dollar 2008-2013: +9.7% (5th largest)
> Median household income: $70,048 (4th highest)
> Poverty rate: 10.8% (3rd lowest)

George Washington Statue, Boston, Massachusetts
Thinkstock

44. Massachusetts
> Value of a dollar:
$0.93
> Chg. in value of dollar 2008-2013: +8.5% (12th largest)
> Median household income: $69,160 (6th highest)
> Poverty rate: 11.6% (10th lowest)

Juneau, Alaska
Thinkstock

43. Alaska
> Value of a dollar:
$0.94
> Chg. in value of dollar 2008-2013: +8.4% (13th largest)
> Median household income: $71,583 (3rd highest)
> Poverty rate: 11.2% (6th lowest)

New Hampshire (bridge)
Thinkstock

42. New Hampshire
> Value of a dollar:
$0.94
> Chg. in value of dollar 2008-2013: +8.8% (10th largest)
> Median household income: $66,532 (7th highest)
> Poverty rate: 9.2% (the lowest)


Seattle (King County), Washington
Thinkstock

41. Washington
> Value of a dollar:
$0.97
> Chg. in value of dollar 2008-2013: +7.5% (23rd largest)
> Median household income: $61,366 (11th highest)
> Poverty rate: 13.2% (19th lowest)

Richmond, Virginia 2
Thinkstock

40. Virginia
> Value of a dollar:
$0.97
> Chg. in value of dollar 2008-2013: +7.3% (24th smallest)
> Median household income: $64,902 (8th highest)
> Poverty rate: 11.8% (12th lowest)

Denver, Colorado 3
Thinkstock

39. Colorado
> Value of a dollar:
$0.98
> Chg. in value of dollar 2008-2013: +5.6% (3rd smallest)
> Median household income: $61,303 (12th highest)
> Poverty rate: 12.0% (13th lowest)


Wilmington, Delaware
Thinkstock

38. Delaware
> Value of a dollar:
$0.99
> Chg. in value of dollar 2008-2013: +8.1% (16th largest)
> Median household income: $59,716 (14th highest)
> Poverty rate: 12.5% (17th lowest)

Chicago, Illinois 4
Thinkstock

37. Illinois
> Value of a dollar:
$0.99
> Chg. in value of dollar 2008-2013: +6.7% (11th smallest)
> Median household income: $57,444 (17th highest)
> Poverty rate: 14.4% (25th lowest)

Montpelier, Vermont
Thinkstock

36. Vermont
> Value of a dollar:
$1.00
> Chg. in value of dollar 2008-2013: +7.7% (21st largest)
> Median household income: $54,166 (20th highest)
> Poverty rate: 12.2% (15th lowest)

Miami, Florida
Thinkstock

35. Florida
> Value of a dollar:
$1.01
> Chg. in value of dollar 2008-2013: +9.7% (6th largest)
> Median household income: $47,463 (12th lowest)
> Poverty rate: 16.5% (16th highest)

Portland, Oregon 2
Thinkstock

34. Oregon
> Value of a dollar:
$1.01
> Chg. in value of dollar 2008-2013: +7.1% (19th smallest)
> Median household income: $51,075 (23rd lowest)
> Poverty rate: 16.6% (14th highest)


Pennsylvania
Thinkstock

33. Pennsylvania
> Value of a dollar:
$1.01
> Chg. in value of dollar 2008-2013: +7.1% (18th smallest)
> Median household income: $53,234 (22nd highest)
> Poverty rate: 13.6% (21st lowest)

Las Vegas, Nevada
Thinkstock

32. Nevada
> Value of a dollar:
$1.02
> Chg. in value of dollar 2008-2013: +10.3% (2nd largest)
> Median household income: $51,450 (24th lowest)
> Poverty rate: 15.2% (23rd highest)

Providence, Rhode Island
Thinkstock

31. Rhode Island
> Value of a dollar:
$1.02
> Chg. in value of dollar 2008-2013: +9.8% (4th largest)
> Median household income: $54,891 (19th highest)
> Poverty rate: 14.3% (24th lowest)

Portland, Maine 2
Thinkstock

30. Maine
> Value of a dollar:
$1.02
> Chg. in value of dollar 2008-2013: +7.8% (20th largest)
> Median household income: $49,462 (19th lowest)
> Poverty rate: 14.1% (22nd lowest)

Minneapolis, Minnesota
Thinkstock

29. Minnesota
> Value of a dollar:
$1.02
> Chg. in value of dollar 2008-2013: +7.3% (23rd smallest)
> Median household income: $61,481 (10th highest)
> Poverty rate: 11.5% (9th lowest)

Salt Lake City, Utah
Thinkstock

28. Utah
> Value of a dollar:
$1.03
> Chg. in value of dollar 2008-2013: +7.1% (17th smallest)
> Median household income: $60,922 (13th highest)
> Poverty rate: 11.7% (11th lowest)

Phoenix, Arizona 3
Thinkstock

27. Arizona
> Value of a dollar:
$1.03
> Chg. in value of dollar 2008-2013: +11.4% (the largest)
> Median household income: $50,068 (21st lowest)
> Poverty rate: 18.2% (10th highest)


Austin Capital of Texas
Thinkstock

26. Texas
> Value of a dollar:
$1.03
> Chg. in value of dollar 2008-2013: +7.3% (22nd smallest)
> Median household income: $53,035 (23rd highest)
> Poverty rate: 17.2% (12th highest)

Cheyenne, Wyoming
Thinkstock

25. Wyoming
> Value of a dollar:
$1.04
> Chg. in value of dollar 2008-2013: +7.8% (19th largest)
> Median household income: $57,055 (18th highest)
> Poverty rate: 11.2% (6th lowest)

Santa Fe, New Mexico
Thinkstock

24. New Mexico
> Value of a dollar:
$1.05
> Chg. in value of dollar 2008-2013: +6.8% (13th smallest)
> Median household income: $44,803 (8th lowest)
> Poverty rate: 21.3% (2nd highest)

Billings, Montana
Thinkstock

23. Montana
> Value of a dollar:
$1.06
> Chg. in value of dollar 2008-2013: +8.5% (11th largest)
> Median household income: $46,328 (10th lowest)
> Poverty rate: 15.4% (22nd highest)

Detroit, Michigan
Thinkstock

22. Michigan
> Value of a dollar:
$1.06
> Chg. in value of dollar 2008-2013: +8.9% (9th largest)
> Median household income: $49,847 (20th lowest)
> Poverty rate: 16.2% (18th highest)


Milwaukee Houses, Wisconsin
Thinkstock

21. Wisconsin
> Value of a dollar:
$1.08
> Chg. in value of dollar 2008-2013: +7.6% (22nd largest)
> Median household income: $52,622 (25th highest)
> Poverty rate: 13.2% (19th lowest)

Boise, Idaho capital building
Thinkstock

20. Idaho
> Value of a dollar:
$1.08
> Chg. in value of dollar 2008-2013: +10.3% (3rd largest)
> Median household income: $47,861 (14th lowest)
> Poverty rate: 14.8% (25th highest)

Augusta, Georgia
Thinkstock

19. Georgia
> Value of a dollar:
$1.09
> Chg. in value of dollar 2008-2013: +9.4% (7th largest)
> Median household income: $49,321 (17th lowest)
> Poverty rate: 18.3% (7th highest)


Raleigh, North Carolina
Thinkstock

18. North Carolina
> Value of a dollar:
$1.09
> Chg. in value of dollar 2008-2013: +7.9% (18th largest)
> Median household income: $46,556 (11th lowest)
> Poverty rate: 17.2% (12th highest)

Fargo, North Dakota
Thinkstock

17. North Dakota
> Value of a dollar:
$1.09
> Chg. in value of dollar 2008-2013: +4.1% (the smallest)
> Median household income: $59,029 (15th highest)
> Poverty rate: 11.5% (9th lowest)

Indianapolis, Indiana
Thinkstock

16. Indiana
> Value of a dollar:
$1.09
> Chg. in value of dollar 2008-2013: +7.3% (21st smallest)
> Median household income: $49,446 (18th lowest)
> Poverty rate: 15.2% (23rd highest)

Baton Rouge, Louisiana
Thinkstock

15. Louisiana
> Value of a dollar:
$1.10
> Chg. in value of dollar 2008-2013: +6.9% (14th smallest)
> Median household income: $44,555 (7th lowest)
> Poverty rate: 19.8% (3rd highest)

Wichita, Kansas
Thinkstock

14. Kansas
> Value of a dollar:
$1.10
> Chg. in value of dollar 2008-2013: +5.7% (4th smallest)
> Median household income: $52,504 (25th lowest)
> Poverty rate: 13.6% (21st lowest)


Knoxville, Tennessee
Thinkstock

13. Tennessee
> Value of a dollar:
$1.10
> Chg. in value of dollar 2008-2013: +7.4% (24th largest)
> Median household income: $44,361 (6th lowest)
> Poverty rate: 18.3% (7th highest)

Myrtle Beach, South Carolina
Thinkstock

12. South Carolina
> Value of a dollar:
$1.11
> Chg. in value of dollar 2008-2013: +8.2% (15th largest)
> Median household income: $45,238 (9th lowest)
> Poverty rate: 18.0% (11th highest)

Omaha, Nebraska
Thinkstock

11. Nebraska
> Value of a dollar:
$1.11
> Chg. in value of dollar 2008-2013: +6.6% (9th smallest)
> Median household income: $52,686 (24th highest)
> Poverty rate: 12.4% (16th lowest)

Des Moines, Iowa
Thinkstock

10. Iowa
> Value of a dollar:
$1.11
> Chg. in value of dollar 2008-2013: +5.5% (2nd smallest)
> Median household income: $53,712 (21st highest)
> Poverty rate: 12.2% (15th lowest)

Oklahoma City, Oklahoma
Thinkstock

9. Oklahoma
> Value of a dollar:
$1.11
> Chg. in value of dollar 2008-2013: +6.3% (8th smallest)
> Median household income: $47,529 (13th lowest)
> Poverty rate: 16.6% (14th highest)

Columbus, Ohio
Thinkstock

8. Ohio
> Value of a dollar:
$1.12
> Chg. in value of dollar 2008-2013: +8.0% (17th largest)
> Median household income: $49,308 (16th lowest)
> Poverty rate: 15.8% (20th highest)

Missouri
Thinkstock

7. Missouri
> Value of a dollar:
$1.12
> Chg. in value of dollar 2008-2013: +5.8% (6th smallest)
> Median household income: $48,363 (15th lowest)
> Poverty rate: 15.5% (21st highest)


Kentucky Farm
Thinkstock

6. Kentucky
> Value of a dollar:
$1.12
> Chg. in value of dollar 2008-2013: +7.3% (20th smallest)
> Median household income: $42,958 (5th lowest)
> Poverty rate: 19.1% (5th highest)

Wheeling, West Virginia
Thinkstock

5. West Virginia
> Value of a dollar:
$1.13
> Chg. in value of dollar 2008-2013: +5.8% (5th smallest)
> Median household income: $41,059 (2nd lowest)
> Poverty rate: 18.3% (7th highest)

Birmingham, Alabama 2
Thinkstock

4. Alabama
> Value of a dollar:
$1.14
> Chg. in value of dollar 2008-2013: +7.4% (25th largest)
> Median household income: $42,830 (4th lowest)
> Poverty rate: 19.3% (4th highest)

Mount Rushmore, South Dakota
Thinkstock

3. South Dakota
> Value of a dollar:
$1.14
> Chg. in value of dollar 2008-2013: +6.6% (10th smallest)
> Median household income: $50,979 (22nd lowest)
> Poverty rate: 14.2% (23rd lowest)

Hot Springs, Arkansas 3
Thinkstock

2. Arkansas
> Value of a dollar:
$1.14
> Chg. in value of dollar 2008-2013: +6.8% (12th smallest)
> Median household income: $41,262 (3rd lowest)
> Poverty rate: 18.9% (6th highest)


Mississippi, ditch boat pushing barge
Thinkstock

1. Mississippi
> Value of a dollar:
$1.15
> Chg. in value of dollar 2008-2013: +7.0% (16th smallest)
> Median household income: $39,680 (the lowest)
> Poverty rate: 21.5% (the highest)

The Average American Is Losing Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.

Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.

But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.