The U.S. dollar is one of the strongest currencies in the world, meaning its purchasing power is much greater than the currencies of nearly all other independent nations. Yet the purchasing power of a dollar fluctuates greatly within U.S. borders, as the price of housing, food, and services vary considerably across the country.
To shed light on these differences that reflect the relative purchasing power of Americans in every state, 24/7 Wall St. calculated the value of a dollar in each state using data from the Bureau of Economic Analysis.
A dollar goes the furthest in America’s poorest states. Goods and services are less expensive to accommodate the relatively low-income residents. These areas are primarily located in the South. Conversely, the most expensive states — where the dollar has the least purchasing power — are home to some of the nation’s largest and most affluent cities.
Click here to see the value of a dollar in every state
To determine the purchasing power of a dollar in every state, 24/7 Wall St. reviewed the Bureau of Economic Analysis’ estimates for regional price parity in 2016 — the most recent year for which data is available. We calculated the value of a dollar in each state by dividing 100 (which represents the base value of $1.00) by every state’s relative price parity figure. We also reviewed the BEA’s per capita personal income data for all states in 2016. To arrive at the effective personal income value for every state, we divided the 2016 per-capita-personal income figure by the 2016 regional price parity value. Median home values came from the 2016 U.S. Census Bureau’s American Consumer Survey.
1. Alabama
> Value of a dollar: $1.15 (2nd highest)
> Personal income per capita: $42,334 (5th lowest)
> Income adjusted by cost of living: $43,684 (10th lowest)
> Median home value: $141,300 (7th lowest)
See all stories featuring: Alabama
[in-text-ad]
2. Alaska
> Value of a dollar: $0.95 (10th lowest)
> Personal income per capita: $59,687 (10th highest)
> Income adjusted by cost of living: $51,079 (11th highest)
> Median home value: $273,100 (12th highest – tied)
See all stories featuring: Alaska
3. Arizona
> Value of a dollar: $1.04 (25th highest)
> Personal income per capita: $43,650 (9th lowest)
> Income adjusted by cost of living: $40,814 (4th lowest)
> Median home value: $223,400 (21st highest)
See all stories featuring: Arizona
4. Arkansas
> Value of a dollar: $1.15 (3rd highest)
> Personal income per capita: $42,566 (6th lowest)
> Income adjusted by cost of living: $44,018 (13th lowest)
> Median home value: $128,500 (3rd lowest)
See all stories featuring: Arkansas
[in-text-ad-2]
5. California
> Value of a dollar: $0.87 (3rd lowest)
> Personal income per capita: $62,586 (6th highest)
> Income adjusted by cost of living: $48,384 (23rd highest)
> Median home value: $509,400 (2nd highest)
See all stories featuring: California
6. Colorado
> Value of a dollar: $0.97 (11th lowest)
> Personal income per capita: $56,846 (13th highest)
> Income adjusted by cost of living: $48,963 (21st highest)
> Median home value: $348,900 (4th highest)
See all stories featuring: Colorado
[in-text-ad]
7. Connecticut
> Value of a dollar: $0.92 (6th lowest)
> Personal income per capita: $74,561 (the highest)
> Income adjusted by cost of living: $61,600 (the highest)
> Median home value: $273,100 (12th highest – tied)
See all stories featuring: Connecticut
24/7 Wall St.
8. Delaware
> Value of a dollar: $1.00 (14th lowest)
> Personal income per capita: $51,449 (21st highest)
> Income adjusted by cost of living: $46,305 (23rd lowest)
> Median home value: $252,800 (17th highest)
See all stories featuring: Delaware
9. Florida
> Value of a dollar: $1.00 (16th lowest)
> Personal income per capita: $49,417 (25th lowest)
> Income adjusted by cost of living: $44,541 (15th lowest)
> Median home value: $214,000 (23rd highest)
See all stories featuring: Florida
[in-text-ad-2]
10. Georgia
> Value of a dollar: $1.09 (19th highest)
> Personal income per capita: $45,745 (12th lowest)
> Income adjusted by cost of living: $44,525 (14th lowest)
> Median home value: $173,700 (21st lowest)
See all stories featuring: Georgia
11. Hawaii
> Value of a dollar: $0.84 (the lowest)
> Personal income per capita: $54,565 (16th highest)
> Income adjusted by cost of living: $41,353 (5th lowest)
> Median home value: $617,400 (the highest)
See all stories featuring: Hawaii
[in-text-ad]
12. Idaho
> Value of a dollar: $1.08 (21st highest)
> Personal income per capita: $43,155 (8th lowest)
> Income adjusted by cost of living: $41,912 (7th lowest)
> Median home value: $207,100 (24th highest)
See all stories featuring: Idaho
24/7 Wall St.
13. Illinois
> Value of a dollar: $1.01 (18th lowest)
> Personal income per capita: $56,933 (12th highest)
> Income adjusted by cost of living: $51,070 (12th highest)
> Median home value: $195,300 (25th highest)
See all stories featuring: Illinois
14. Indiana
> Value of a dollar: $1.11 (12th highest – tied)
> Personal income per capita: $46,646 (16th lowest)
> Income adjusted by cost of living: $46,444 (24th lowest)
> Median home value: $141,100 (6th lowest)
See all stories featuring: Indiana
[in-text-ad-2]
15. Iowa
> Value of a dollar: $1.11 (10th highest – tied)
> Personal income per capita: $48,823 (23rd lowest)
> Income adjusted by cost of living: $49,485 (18th highest)
> Median home value: $149,100 (9th lowest)
See all stories featuring: Iowa
16. Kansas
> Value of a dollar: $1.10 (15th highest – tied)
> Personal income per capita: $50,155 (23rd highest)
> Income adjusted by cost of living: $50,504 (15th highest)
> Median home value: $150,600 (10th lowest)
See all stories featuring: Kansas
[in-text-ad]
17. Kentucky
> Value of a dollar: $1.14 (5th highest)
> Personal income per capita: $41,779 (4th lowest)
> Income adjusted by cost of living: $43,273 (9th lowest)
> Median home value: $141,000 (5th lowest)
See all stories featuring: Kentucky
24/7 Wall St.
18. Louisiana
> Value of a dollar: $1.11 (14th highest)
> Personal income per capita: $45,542 (11th lowest)
> Income adjusted by cost of living: $45,363 (19th lowest)
> Median home value: $162,500 (15th lowest)
See all stories featuring: Louisiana
19. Maine
> Value of a dollar: $1.02 (19th lowest – tied)
> Personal income per capita: $48,241 (21st lowest)
> Income adjusted by cost of living: $43,817 (11th lowest)
> Median home value: $191,200 (24th lowest)
See all stories featuring: Maine
[in-text-ad-2]
20. Maryland
> Value of a dollar: $0.91 (5th lowest)
> Personal income per capita: $62,914 (5th highest)
> Income adjusted by cost of living: $51,645 (10th highest)
> Median home value: $312,500 (9th highest)
See all stories featuring: Maryland
21. Massachusetts
> Value of a dollar: $0.93 (7th lowest)
> Personal income per capita: $70,073 (2nd highest)
> Income adjusted by cost of living: $58,221 (2nd highest)
> Median home value: $385,400 (3rd highest)
See all stories featuring: Massachusetts
[in-text-ad]
22. Michigan
> Value of a dollar: $1.07 (22nd highest)
> Personal income per capita: $47,582 (19th lowest)
> Income adjusted by cost of living: $46,186 (22nd lowest)
> Median home value: $155,700 (11th lowest)
See all stories featuring: Michigan
23. Minnesota
> Value of a dollar: $1.03 (21st lowest)
> Personal income per capita: $56,374 (14th highest)
> Income adjusted by cost of living: $52,075 (8th highest)
> Median home value: $224,000 (20th highest)
See all stories featuring: Minnesota
24. Mississippi
> Value of a dollar: $1.16 (the highest)
> Personal income per capita: $37,994 (the lowest)
> Income adjusted by cost of living: $39,901 (the lowest)
> Median home value: $120,200 (2nd lowest)
See all stories featuring: Mississippi
[in-text-ad-2]
25. Missouri
> Value of a dollar: $1.12 (9th highest)
> Personal income per capita: $46,635 (15th lowest)
> Income adjusted by cost of living: $46,893 (25th highest)
> Median home value: $156,700 (13th lowest)
See all stories featuring: Missouri
26. Montana
> Value of a dollar: $1.06 (24th highest)
> Personal income per capita: $47,120 (17th lowest)
> Income adjusted by cost of living: $45,041 (17th lowest)
> Median home value: $231,300 (18th highest)
See all stories featuring: Montana
[in-text-ad]
27. Nebraska
> Value of a dollar: $1.10 (15th highest – tied)
> Personal income per capita: $52,110 (20th highest)
> Income adjusted by cost of living: $52,833 (6th highest)
> Median home value: $155,800 (12th lowest)
See all stories featuring: Nebraska
28. Nevada
> Value of a dollar: $1.03 (22nd lowest)
> Personal income per capita: $48,225 (20th lowest)
> Income adjusted by cost of living: $43,972 (12th lowest)
> Median home value: $258,200 (15th highest)
See all stories featuring: Nevada
29. New Hampshire
> Value of a dollar: $0.94 (8th lowest)
> Personal income per capita: $61,405 (7th highest)
> Income adjusted by cost of living: $51,929 (9th highest)
> Median home value: $263,600 (14th highest)
See all stories featuring: New Hampshire
[in-text-ad-2]
30. New Jersey
> Value of a dollar: $0.88 (4th lowest)
> Personal income per capita: $67,609 (4th highest)
> Income adjusted by cost of living: $52,651 (7th highest)
> Median home value: $334,900 (6th highest)
See all stories featuring: New Jersey
31. New Mexico
> Value of a dollar: $1.07 (23rd highest)
> Personal income per capita: $41,198 (3rd lowest)
> Income adjusted by cost of living: $40,049 (2nd lowest)
> Median home value: $171,300 (19th lowest)
See all stories featuring: New Mexico
[in-text-ad]
32. New York
> Value of a dollar: $0.87 (2nd lowest)
> Personal income per capita: $68,667 (3rd highest)
> Income adjusted by cost of living: $50,709 (13th highest)
> Median home value: $314,500 (8th highest)
See all stories featuring: New York
33. North Carolina
> Value of a dollar: $1.10 (17th highest)
> Personal income per capita: $45,834 (13th lowest)
> Income adjusted by cost of living: $45,216 (18th lowest)
> Median home value: $171,200 (18th lowest)
See all stories featuring: North Carolina
34. North Dakota
> Value of a dollar: $1.09 (18th highest)
> Personal income per capita: $54,306 (18th highest)
> Income adjusted by cost of living: $55,364 (3rd highest)
> Median home value: $194,700 (25th lowest)
See all stories featuring: North Dakota
[in-text-ad-2]
35. Ohio
> Value of a dollar: $1.12 (8th highest)
> Personal income per capita: $48,242 (22nd lowest)
> Income adjusted by cost of living: $48,699 (22nd highest)
> Median home value: $144,200 (8th lowest)
See all stories featuring: Ohio
36. Oklahoma
> Value of a dollar: $1.12 (7th highest)
> Personal income per capita: $46,128 (14th lowest)
> Income adjusted by cost of living: $45,548 (20th lowest)
> Median home value: $137,400 (4th lowest)
See all stories featuring: Oklahoma
[in-text-ad]
37. Oregon
> Value of a dollar: $1.00 (15th lowest)
> Personal income per capita: $49,908 (25th highest)
> Income adjusted by cost of living: $44,778 (16th lowest)
> Median home value: $319,200 (7th highest)
See all stories featuring: Oregon
38. Pennsylvania
> Value of a dollar: $1.02 (19th lowest – tied)
> Personal income per capita: $55,349 (15th highest)
> Income adjusted by cost of living: $50,276 (16th highest)
> Median home value: $181,200 (23rd lowest)
See all stories featuring: Pennsylvania
39. Rhode Island
> Value of a dollar: $1.00 (17th lowest)
> Personal income per capita: $54,523 (17th highest)
> Income adjusted by cost of living: $49,114 (20th highest)
> Median home value: $257,800 (16th highest)
See all stories featuring: Rhode Island
[in-text-ad-2]
40. South Carolina
> Value of a dollar: $1.11 (12th highest – tied)
> Personal income per capita: $42,736 (7th lowest)
> Income adjusted by cost of living: $42,958 (8th lowest)
> Median home value: $161,800 (14th lowest)
See all stories featuring: South Carolina
41. South Dakota
> Value of a dollar: $1.13 (6th highest)
> Personal income per capita: $50,141 (24th highest)
> Income adjusted by cost of living: $52,855 (5th highest)
> Median home value: $167,600 (17th lowest)
See all stories featuring: South Dakota
[in-text-ad]
42. Tennessee
> Value of a dollar: $1.11 (10th highest – tied)
> Personal income per capita: $47,179 (18th lowest)
> Income adjusted by cost of living: $46,885 (25th lowest)
> Median home value: $167,500 (16th lowest)
See all stories featuring: Tennessee
43. Texas
> Value of a dollar: $1.03 (24th lowest)
> Personal income per capita: $49,161 (24th lowest)
> Income adjusted by cost of living: $45,823 (21st lowest)
> Median home value: $172,200 (20th lowest)
See all stories featuring: Texas
44. Utah
> Value of a dollar: $1.03 (23rd lowest)
> Personal income per capita: $45,340 (10th lowest)
> Income adjusted by cost of living: $41,706 (6th lowest)
> Median home value: $275,100 (10th highest)
See all stories featuring: Utah
[in-text-ad-2]
45. Vermont
> Value of a dollar: $0.98 (13th lowest)
> Personal income per capita: $53,598 (19th highest)
> Income adjusted by cost of living: $47,971 (24th highest)
> Median home value: $226,300 (19th highest)
See all stories featuring: Vermont
46. Virginia
> Value of a dollar: $0.98 (12th lowest)
> Personal income per capita: $56,952 (11th highest)
> Income adjusted by cost of living: $50,184 (17th highest)
> Median home value: $273,400 (11th highest)
See all stories featuring: Virginia
[in-text-ad]
47. Washington
> Value of a dollar: $0.95 (9th lowest)
> Personal income per capita: $60,781 (8th highest)
> Income adjusted by cost of living: $50,640 (14th highest)
> Median home value: $339,000 (5th highest)
See all stories featuring: Washington
48. West Virginia
> Value of a dollar: $1.14 (4th highest)
> Personal income per capita: $40,578 (2nd lowest)
> Income adjusted by cost of living: $40,619 (3rd lowest)
> Median home value: $119,800 (the lowest)
See all stories featuring: West Virginia
49. Wisconsin
> Value of a dollar: $1.08 (20th highest)
> Personal income per capita: $50,756 (22nd highest)
> Income adjusted by cost of living: $49,211 (19th highest)
> Median home value: $178,900 (22nd lowest)
See all stories featuring: Wisconsin
[in-text-ad-2]
50. Wyoming
> Value of a dollar: $1.03 (25th lowest)
> Personal income per capita: $60,095 (9th highest)
> Income adjusted by cost of living: $55,183 (4th highest)
> Median home value: $214,300 (22nd highest)
See all stories featuring: Wyoming
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
