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Economy

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

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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$1 Is Worth 86 Cents in Hawaii, Less Than Any Other State

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[cnxvideo id=”625480″ placement=”ros”]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

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

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)
[nativounit]
Atlantic City, New Jersey 2

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

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)
[recirclink id=330933]
Annapolis, Maryland

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

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

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)
[nativounit]
Juneau, Alaska

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)

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)
[recirclink id=330390]
Seattle (King County), Washington

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

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

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)
[recirclink id=330389]
Wilmington, Delaware

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

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)
[nativounit]
Montpelier, Vermont

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

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

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)
[recirclink id=330273]
Pennsylvania

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

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)
[nativounit]
Providence, Rhode Island

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

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

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)
[nativounit]
Salt Lake City, Utah

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

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)
[recirclink id=329862]
Austin Capital of Texas

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

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

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)
[nativounit]
Billings, Montana

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

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)
[recirclink id=328777]
Milwaukee Houses, Wisconsin

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

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

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)
[recirclink id=328172]
Raleigh, North Carolina

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

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)
[nativounit]
Indianapolis, Indiana

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

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

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)
[recirclink id=328173]
Knoxville, Tennessee

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

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)
[nativounit]
Omaha, Nebraska

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

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

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)
[nativounit]
Columbus, Ohio

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

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)
[recirclink id=328234]
Kentucky Farm

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

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

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)
[nativounit]
Mount Rushmore, South Dakota

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

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)
[recirclink id=328204]
Mississippi, ditch boat pushing barge

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)

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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