One dollar is worth $1.15 in Alabama and Arkansas, but just 87 cents in states like New York and California thanks to sky high housing and living costs - so how much is a buck worth in YOUR state?
- In the nation's poorest states the dollar has the most value, worth $1.16 in Mississippi and $1.15 in Alabama and Arkansas
- In Hawaii, the most expensive U.S. state to live in, a dollar is worth just $0.84
- A dollar is worth $0.87 in New York and California, both with affluent cities
- The great difference in value is due to the cost of housing, food and services which vary across the country
- Only in four states - Rhode Island, Florida, Oregon, and Delaware - is a dollar actually worth $1
In the US, a single dollar has a different value depending on the state.
It turns out that a buck stretches the most in Mississippi, Alabama, and Arkansas – which are considered the 'poorest states' in the nation.
In Mississippi, a dollar is actually worth $1.16, and in Alabama and Arkansas it’s worth $1.15, according to new data compiled by 24/7 Wall Street from the Bureau of Economic Analysis (BEA).
In these states goods, services, and housing are less expensive for relatively low-income residents.
In the nation's poorest states the dollar has the most value, worth $1.16 in Mississippi and $1.15 in Alabama and Arkansas
A buck stretches the most in the state of Mississippi (Jackson pictured above), where one dollar is worth $1.16. In poorer states the cost of goods, services and housing is lower to accommodate for relatively lower income residents
In Alabama (Mobile Bay pictured above) a dollar is worth $1.15
And a dollar has the least value in Hawaii, New York, California, and New Jersey - states with affluent cities where the cost of the living is much higher.
In Hawaii the dollar is worth a mere $0.84, in New York and California it’s worth $0.87. In New Jersey it's worth $0.88.
It’s a stark comparison – the purchasing power is nearly 35 percent greater in Mississippi than New York, according to Forbes citing 2016 numbers.
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In Hawaii, the most expensive U.S. state to live in, a dollar is worth just $0.84. Honolulu, home to luxury hotels and resorts, pictured above
A dollar is worth $0.87 in New York (above) and California, both with affluent cities
The cause for the great difference in value is due to the cost of housing, food and services which vary across the country. San Francisco in California pictured above
That means $100 in New York is actually only worth about $86.51 while $100 in Mississippi carries a value of $115.74.
According to the statistics, in only four states is $1 actually worth $1.00 - Rhode Island, Florida, Oregon, and Delaware.
Hawaii was the priciest state on the list and was named the most expensive state to live in last year where the cost of living for a household of one to two is $111,892 - while the average income is just $71,977, as per GOBankingRates.
The cause for the great difference in value is due to the cost of housing, food and services which vary across the country.
