Special Report

The Value of a Dollar in Every State

claudiodivizia / iStock / Getty Images Plus

As the Coronavirus continues to affect the American economy, the value of the country’s currency has taken a hit in international markets. Even so, the U.S. dollar remains one of the most widely-traded and powerful currencies in the world. Within the United States, the purchasing power of a dollar fluctuates greatly, as the price of housing, food, products, and services vary considerably across the country. 

To shed light on these differences that reflect how far a dollar can stretch in every state, 24/7 Wall St. calculated the purchasing power of a dollar in each state using data from the Bureau of Economic Analysis. 

We reviewed the BEA’s estimates for regional price parity in 2018 — 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 regional price parity figure. We also reviewed the BEA’s per capita personal income and real per capita personal income data for all states in 2018. Median home values came from the 2018 U.S. Census Bureau’s American Consumer Survey.

A dollar goes the furthest in America’s poorest states. Goods and services tend to be less expensive in lower-income areas, more closely reflecting what residents can afford. A large share of cities with relatively large lower-income and poor populations are located in Southern states. 

Conversely, the most expensive states — where the dollar has the least purchasing power — are home to some of the nation’s most affluent cities and towns.

Click here to see the value of a dollar in every state

Michael Warren / iStock via Getty Images

Alabama
> Value of a dollar: $1.16 (3rd highest)
> Personal income per capita: $42,240 (4th lowest)
> Income adjusted by cost of living: $45,397 (11th lowest)
> Median home value: $147,900 (6th lowest)

Click here to see our full analysis of cost of living in Alabama

[in-text-ad]

EdwardVisserPhotography / iStock Editorial via Getty Images

Alaska
> Value of a dollar: $0.95 (10th lowest)
> Personal income per capita: $59,605 (10th highest)
> Income adjusted by cost of living: $52,816 (17th highest)
> Median home value: $276,100 (14th highest)

Click here to see our full analysis of cost of living in Alaska

PaulMcKinnon / iStock Editorial via Getty Images

Arizona
> Value of a dollar: $1.04 (25th lowest)
> Personal income per capita: $44,414 (9th lowest)
> Income adjusted by cost of living: $42,742 (3rd lowest)
> Median home value: $241,100 (19th highest)

Click here to see our full analysis of cost of living in Arizona

library_of_congress / Flickr

Arkansas
> Value of a dollar: $1.17 (the highest)
> Personal income per capita: $43,292 (6th lowest)
> Income adjusted by cost of living: $47,158 (17th lowest)
> Median home value: $133,100 (3rd lowest)

Click here to see our full analysis of cost of living in Arkansas

[in-text-ad-2]

TrongNguyen / iStock Editorial via Getty Images

California
> Value of a dollar: $0.87 (3rd lowest)
> Personal income per capita: $63,711 (5th highest)
> Income adjusted by cost of living: $51,274 (21st highest)
> Median home value: $546,800 (2nd highest)

Click here to see our full analysis of cost of living in California

littleny / iStock Editorial via Getty Images

Colorado
> Value of a dollar: $0.98 (13th lowest)
> Personal income per capita: $58,500 (11th highest)
> Income adjusted by cost of living: $53,315 (15th highest)
> Median home value: $373,300 (4th highest)

Click here to see our full analysis of cost of living in Colorado

[in-text-ad]

AlbertPego / iStock Editorial via Getty Images

Connecticut
> Value of a dollar: $0.94 (8th lowest)
> Personal income per capita: $76,481 (the highest)
> Income adjusted by cost of living: $66,978 (the highest)
> Median home value: $277,400 (13th highest)

Click here to see our full analysis of cost of living in Connecticut

Brycia James / iStock Unreleased via Getty Images

Delaware
> Value of a dollar: $1.01 (18th lowest)
> Personal income per capita: $52,599 (21st highest)
> Income adjusted by cost of living: $49,436 (25th highest)
> Median home value: $255,300 (17th highest)

Click here to see our full analysis of cost of living in Delaware

SeanPavonePhoto / iStock via Getty Images

Florida
> Value of a dollar: $0.99 (15th lowest)
> Personal income per capita: $50,199 (23rd lowest)
> Income adjusted by cost of living: $46,346 (12th lowest)
> Median home value: $230,600 (23rd highest)

Click here to see our full analysis of cost of living in Florida

[in-text-ad-2]

Atlantagreg / iStock via Getty Images

Georgia
> Value of a dollar: $1.08 (24th highest)
> Personal income per capita: $46,519 (14th lowest)
> Income adjusted by cost of living: $46,471 (13th lowest)
> Median home value: $189,900 (23rd lowest)

Click here to see our full analysis of cost of living in Georgia

KenWiedemann / Getty Images

Hawaii
> Value of a dollar: $0.85 (the lowest)
> Personal income per capita: $55,414 (17th highest)
> Income adjusted by cost of living: $43,595 (5th lowest)
> Median home value: $631,700 (the highest)

Click here to see our full analysis of cost of living in Hawaii

[in-text-ad]

vkbhat / iStock Unreleased via Getty Images

Idaho
> Value of a dollar: $1.08 (22nd highest)
> Personal income per capita: $43,994 (8th lowest)
> Income adjusted by cost of living: $44,193 (6th lowest)
> Median home value: $233,100 (21st highest)

Click here to see our full analysis of cost of living in Idaho

YinYang / iStock via Getty Images

Illinois
> Value of a dollar: $1.02 (19th lowest)
> Personal income per capita: $56,919 (14th highest)
> Income adjusted by cost of living: $53,893 (11th highest)
> Median home value: $203,400 (25th highest)

Click here to see our full analysis of cost of living in Illinois

Joel Carillet / iStock Unreleased via Getty Images

Indiana
> Value of a dollar: $1.12 (12th highest)
> Personal income per capita: $47,124 (16th lowest)
> Income adjusted by cost of living: $48,997 (24th lowest)
> Median home value: $147,300 (5th lowest)

Click here to see our full analysis of cost of living in Indiana

[in-text-ad-2]

cnicbc / iStock Unreleased via Getty Images

Iowa
> Value of a dollar: $1.12 (11th highest)
> Personal income per capita: $50,243 (24th lowest)
> Income adjusted by cost of living: $52,288 (19th highest)
> Median home value: $152,000 (9th lowest)

Click here to see our full analysis of cost of living in Iowa

Kansas
> Value of a dollar: $1.11 (15th highest)
> Personal income per capita: $51,474 (24th highest)
> Income adjusted by cost of living: $53,125 (16th highest)
> Median home value: $159,400 (10th lowest)

Click here to see our full analysis of cost of living in Kansas

[in-text-ad]

Kirkikis / iStock Editorial via Getty Images

Kentucky
> Value of a dollar: $1.14 (4th highest)
> Personal income per capita: $42,527 (5th lowest)
> Income adjusted by cost of living: $44,959 (9th lowest)
> Median home value: $148,100 (7th lowest)

Click here to see our full analysis of cost of living in Kentucky

ablokhin / iStock Editorial via Getty Images

Louisiana
> Value of a dollar: $1.12 (10th highest)
> Personal income per capita: $46,245 (11th lowest)
> Income adjusted by cost of living: $48,178 (19th lowest)
> Median home value: $167,300 (14th lowest)

Click here to see our full analysis of cost of living in Louisiana

Maine
> Value of a dollar: $1.00 (16th lowest)
> Personal income per capita: $48,881 (21st lowest)
> Income adjusted by cost of living: $45,381 (10th lowest)
> Median home value: $197,500 (24th lowest)

Click here to see our full analysis of cost of living in Maine

[in-text-ad-2]

ablokhin / iStock Editorial via Getty Images

Maryland
> Value of a dollar: $0.92 (6th lowest)
> Personal income per capita: $63,426 (6th highest)
> Income adjusted by cost of living: $54,360 (10th highest)
> Median home value: $324,800 (9th highest)

Click here to see our full analysis of cost of living in Maryland

Kirkikis / iStock Editorial via Getty Images

Massachusetts
> Value of a dollar: $0.91 (5th lowest)
> Personal income per capita: $71,886 (2nd highest)
> Income adjusted by cost of living: $60,866 (2nd highest)
> Median home value: $400,700 (3rd highest)

Click here to see our full analysis of cost of living in Massachusetts

[in-text-ad]

mustangjoe / Flickr

Michigan
> Value of a dollar: $1.08 (21st highest)
> Personal income per capita: $48,480 (19th lowest)
> Income adjusted by cost of living: $48,742 (23rd lowest)
> Median home value: $162,500 (12th lowest)

Click here to see our full analysis of cost of living in Michigan

csfotoimages / iStock Editorial via Getty Images

Minnesota
> Value of a dollar: $1.03 (22nd lowest)
> Personal income per capita: $57,566 (13th highest)
> Income adjusted by cost of living: $54,857 (8th highest)
> Median home value: $235,400 (20th highest)

Click here to see our full analysis of cost of living in Minnesota

MichaelWarrenPix / Getty Images

Mississippi
> Value of a dollar: $1.16 (2nd highest)
> Personal income per capita: $37,904 (the lowest)
> Income adjusted by cost of living: $40,927 (the lowest)
> Median home value: $123,300 (2nd lowest)

Click here to see our full analysis of cost of living in Mississippi

[in-text-ad-2]

TriggerPhoto / iStock via Getty Images

Missouri
> Value of a dollar: $1.13 (9th highest)
> Personal income per capita: $47,784 (18th lowest)
> Income adjusted by cost of living: $49,979 (24th highest)
> Median home value: $162,600 (13th lowest)

Click here to see our full analysis of cost of living in Missouri

DianeBentleyRaymond / iStock via Getty Images

Montana
> Value of a dollar: $1.07 (25th highest)
> Personal income per capita: $47,611 (17th lowest)
> Income adjusted by cost of living: $47,407 (18th lowest)
> Median home value: $249,200 (18th highest)

Click here to see our full analysis of cost of living in Montana

[in-text-ad]

Mark Lucey / iStock Editorial via Getty Images

Nebraska
> Value of a dollar: $1.12 (13th highest)
> Personal income per capita: $53,364 (20th highest)
> Income adjusted by cost of living: $55,358 (6th highest)
> Median home value: $161,800 (11th lowest)

Click here to see our full analysis of cost of living in Nebraska

bukki88 / iStock Editorial via Getty Images

Nevada
> Value of a dollar: $1.03 (22nd lowest)
> Personal income per capita: $49,290 (22nd lowest)
> Income adjusted by cost of living: $46,970 (16th lowest)
> Median home value: $292,200 (11th highest)

Click here to see our full analysis of cost of living in Nevada

carterdayne / iStock Unreleased via Getty Images

New Hampshire
> Value of a dollar: $0.94 (9th lowest)
> Personal income per capita: $61,429 (8th highest)
> Income adjusted by cost of living: $53,832 (12th highest)
> Median home value: $270,000 (16th highest)

Click here to see our full analysis of cost of living in New Hampshire

[in-text-ad-2]

gerenme / iStock via Getty Images

New Jersey
> Value of a dollar: $0.87 (4th lowest)
> Personal income per capita: $68,409 (4th highest)
> Income adjusted by cost of living: $55,174 (7th highest)
> Median home value: $344,000 (6th highest)

Click here to see our full analysis of cost of living in New Jersey

New Mexico
> Value of a dollar: $1.10 (17th highest)
> Personal income per capita: $41,663 (3rd lowest)
> Income adjusted by cost of living: $42,491 (2nd lowest)
> Median home value: $174,700 (17th lowest)

Click here to see our full analysis of cost of living in New Mexico

[in-text-ad]

New York
> Value of a dollar: $0.86 (2nd lowest)
> Personal income per capita: $68,710 (3rd highest)
> Income adjusted by cost of living: $54,819 (9th highest)
> Median home value: $325,500 (8th highest)

Click here to see our full analysis of cost of living in New York

J. Michael Jones / iStock Editorial via Getty Images

North Carolina
> Value of a dollar: $1.09 (19th highest)
> Personal income per capita: $46,126 (10th lowest)
> Income adjusted by cost of living: $46,650 (14th lowest)
> Median home value: $180,600 (19th lowest)

Click here to see our full analysis of cost of living in North Carolina

dlerick / iStock via Getty Images

North Dakota
> Value of a dollar: $1.10 (16th highest)
> Personal income per capita: $55,598 (16th highest)
> Income adjusted by cost of living: $57,008 (4th highest)
> Median home value: $198,700 (25th lowest)

Click here to see our full analysis of cost of living in North Dakota

[in-text-ad-2]

PapaBear / iStock Editorial via Getty Images

Ohio
> Value of a dollar: $1.13 (7th highest)
> Personal income per capita: $48,793 (20th lowest)
> Income adjusted by cost of living: $51,249 (23rd highest)
> Median home value: $151,100 (8th lowest)

Click here to see our full analysis of cost of living in Ohio

TerryJ / iStock Unreleased via Getty Images

Oklahoma
> Value of a dollar: $1.13 (7th highest)
> Personal income per capita: $46,267 (12th lowest)
> Income adjusted by cost of living: $48,633 (22nd lowest)
> Median home value: $140,000 (4th lowest)

Click here to see our full analysis of cost of living in Oklahoma

[in-text-ad]

RyanJLane / E+ via Getty Images

Oregon
> Value of a dollar: $0.99 (14th lowest)
> Personal income per capita: $50,951 (25th highest)
> Income adjusted by cost of living: $46,819 (15th lowest)
> Median home value: $341,800 (7th highest)

Click here to see our full analysis of cost of living in Oregon

David Sacks / DigitalVision via Getty Images

Pennsylvania
> Value of a dollar: $1.03 (22nd lowest)
> Personal income per capita: $56,252 (15th highest)
> Income adjusted by cost of living: $53,566 (13th highest)
> Median home value: $186,000 (21st lowest)

Click here to see our full analysis of cost of living in Pennsylvania

stevegeer / iStock via Getty Images

Rhode Island
> Value of a dollar: $1.01 (17th lowest)
> Personal income per capita: $54,800 (18th highest)
> Income adjusted by cost of living: $51,261 (22nd highest)
> Median home value: $273,800 (15th highest)

Click here to see our full analysis of cost of living in Rhode Island

[in-text-ad-2]

TriggerPhoto / iStock via Getty Images

South Carolina
> Value of a dollar: $1.10 (17th highest)
> Personal income per capita: $43,702 (7th lowest)
> Income adjusted by cost of living: $44,531 (7th lowest)
> Median home value: $170,800 (15th lowest)

Click here to see our full analysis of cost of living in South Carolina

library_of_congress / Flickr

South Dakota
> Value of a dollar: $1.14 (6th highest)
> Personal income per capita: $52,426 (22nd highest)
> Income adjusted by cost of living: $55,377 (5th highest)
> Median home value: $171,500 (16th lowest)

Click here to see our full analysis of cost of living in South Dakota

[in-text-ad]

FangXiaNuo / iStock via Getty Images

Tennessee
> Value of a dollar: $1.11 (14th highest)
> Personal income per capita: $46,889 (15th lowest)
> Income adjusted by cost of living: $48,441 (20th lowest)
> Median home value: $177,500 (18th lowest)

Click here to see our full analysis of cost of living in Tennessee

ferrantraite / E+ via Getty Images

Texas
> Value of a dollar: $1.03 (23rd lowest)
> Personal income per capita: $50,483 (25th lowest)
> Income adjusted by cost of living: $48,443 (21st lowest)
> Median home value: $186,000 (21st lowest)

Click here to see our full analysis of cost of living in Texas

Sean Pavone / iStock via Getty Images

Utah
> Value of a dollar: $1.04 (24th lowest)
> Personal income per capita: $46,431 (13th lowest)
> Income adjusted by cost of living: $44,618 (8th lowest)
> Median home value: $303,300 (10th highest)

Click here to see our full analysis of cost of living in Utah

[in-text-ad-2]

Kirkikis / iStock Editorial via Getty Images

Vermont
> Value of a dollar: $0.97 (11th lowest)
> Personal income per capita: $54,342 (19th highest)
> Income adjusted by cost of living: $49,001 (25th lowest)
> Median home value: $233,100 (21st highest)

Click here to see our full analysis of cost of living in Vermont

Virginia
> Value of a dollar: $0.98 (12th lowest)
> Personal income per capita: $57,910 (12th highest)
> Income adjusted by cost of living: $52,704 (18th highest)
> Median home value: $281,700 (12th highest)

Click here to see our full analysis of cost of living in Virginia

[in-text-ad]

oksanaphoto / Getty Images

Washington
> Value of a dollar: $0.93 (7th lowest)
> Personal income per capita: $62,122 (7th highest)
> Income adjusted by cost of living: $53,502 (14th highest)
> Median home value: $373,100 (5th highest)

Click here to see our full analysis of cost of living in Washington

MangoStar_Studio / iStock via Getty Images

West Virginia
> Value of a dollar: $1.14 (4th highest)
> Personal income per capita: $40,907 (2nd lowest)
> Income adjusted by cost of living: $43,268 (4th lowest)
> Median home value: $121,300 (the lowest)

Click here to see our full analysis of cost of living in West Virginia

MattGush / iStock Editorial via Getty Images

Wisconsin
> Value of a dollar: $1.09 (20th highest)
> Personal income per capita: $51,647 (23rd highest)
> Income adjusted by cost of living: $52,182 (20th highest)
> Median home value: $188,500 (22nd lowest)

Click here to see our full analysis of cost of living in Wisconsin

[in-text-ad-2]

Wyoming
> Value of a dollar: $1.08 (23rd highest)
> Personal income per capita: $60,375 (9th highest)
> Income adjusted by cost of living: $60,458 (3rd highest)
> Median home value: $230,500 (24th highest)

Click here to see our full analysis of cost of living in Wyoming

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

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