Value of $1 varies by state — up to $1.16 in one, as low as $0.84 in another
LOS ANGELES - The value of the U.S. dollar varies by state, a report found, with $1 having the least value in Hawaii and the most in Mississippi.
A report from 24/7 Wall St. calculated the value of a dollar in each state using data from the U.S. Department of Commerce's Bureau of Economic Analysis.
A dollar goes the furthest in America's poorest states, which are areas primarily located in the South, the report said. On the other hand, a dollar has the least purchasing power in the nation's most expensive states, which are home to some of the United States' largest and most affluent cities, according to the report.
In Mississippi, the value of a dollar is $1.16, which is the highest. The state has the lowest personal income per capita at $37,994 and the lowest income adjusted by cost of living at $39,901. Its median home value is the second-lowest at $120,200.
The dollar's value is tied for second and third place in Alabama and Arkansas, worth $1.15 in both states. It is worth $1.14 in West Virginia and Kentucky, which have tied for the fourth and fifth-highest value. West Virginia also has the lowest median home value at $119,800, which is just below that of Mississippi.
In Hawaii, the value of the dollar is the lowest, worth just $0.84. The state has the highest median home value at $617,400. The personal income per capita is $54,565, which is the 16th-highest of any state. Its income adjusted by cost of living is $41,353, which is the fifth-lowest.
The value of $1 is tied for the second and third lowest in New York and California, where it's worth $0.87. California also has the second-highest median home value at $509,400, which is just behind Hawaii. New Jersey has the fourth-lowest value of a dollar at $0.88, while Maryland has the fifth-lowest value of a dollar at $0.91.
Connecticut has the highest personal income per capita at $74,561, and the highest income adjusted by cost of living at $61,600. A dollar is worth $0.92 in the state, which is the sixth-lowest value.
The value of a dollar is actually worth $1 in only four states: Rhode Island, Florida, Oregon and Delaware.