$1 Is Worth 86 Cents in Hawaii, Less Than Any Other State
May 14, 2016 by Douglas A. McIntyreThe 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:
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)
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)
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)
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)
24/7 Wall St.