When a Dollar is Not a Dollar

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A buck’s a buck, right? Well, it should be. The value of a greenback in the United States should have the same value all over the country. Except, depending on where you live that dollar bill will get you more…or less…of what you need every day. So, no a dollar just ain’t a dollar, is it? Data from the Bureau of Economic Analysis provides statistic for the entire country to determine just how far that dollar can go for goods and services everywhere. Whatever it is you’re buying, the price of food, drink, housing, and local services all differ according to the income levels of people in the state. So, if you earn more, then your dollar isn’t going to go as far as somewhere where the inhabitants of the state are earning a lot less.

So where would your dollar get you more for your money? That doesn’t necessarily mean that you’re going to want to live there, because if you do, you’ll be earning less. So, which would you prefer: earning more and end up paying through the nose for something or getting it on the cheap and earning a lot less than you would maybe like to?

States where your dollar goes a little bit further…or not at all!

50. Hawaii: the value of the dollar here is the lowest in the country. It’s only worth $0.86 by comparison with all of the other states in the USA for food, goods and services, as well as housing. The value of the dollar changed by +9.3% between 2008 and 2013. That means that the price of housing affected the value of the dollar, probably. The fall in the housing market meant that the value of the dollar increased. But, at the same time, the people lost their money despite the increase because they lost their homes or the price of them plummeted. Median household income stands at $69,592 and it is the 5^th highest in the country. The poverty rate is just 11.4% and that means it’s the 7^th lowest in the United States today.

49. New York: The value of the dollar is only marginally better than in Hawaii here at $0.87. The change in the value of the dollar was +7.3% for the period 2008 to 203 and the median household income stands at $58,878 (the 16^th highest in the country). The poverty rate is just 15.9%.

48. New Jersey: here the dollar is worth $0.87 and the change that occurred over the period 2008-2013 stands at +6%. This state has the 2^nd highest median household income, standing at $71,919 and the 4^th lowest poverty rate (11.1%).

47. California: The value of the dollar here is $0.89 and there is the 14^th largest increase (+8.3%) in the value of that dollar over the period 2008-2013. Median household income is the 9^th highest at $61,933 and the poverty rate stands at 16.4%

46. Maryland: The value of the dollar here is $0.90 and the change that took place in that value over the period 2008-2013 amounted to +6.9%. The median household income stands at $73,971 and that is the highest income in the entire country. The poverty rate is also one of the lowest in the USA (2^nd lowest) at just 10.1%.

45. Connecticut: The value of the dollar here is $0.92 and that saw a change of +.97% (5^th highest over the period 2008-2013). The median household income stands at $70,048 and that’s the 4^th best in the country, with a poverty rate that is one of the lowest in the country (10.8%).

44. Massachusetts: The value of the dollar here stands at $0.93 (with an increase for 2008-2013 of +8.5%). The median household income amounts to $69,160 and the poverty rate is 11.6%.

43. Alaska: this state has a value of $0.94 for a dollar by comparison with the others and it increased between 2008 and 2013 by +8.4%. The poverty rate is 11.2% and the household median income stands at $71,583 (3^rd best).

42. New Hampshire: This state has a dollar value of $0.94 (increasing by +8.8% over the period 2008-2013). The median household income is the 7^th highest at $66,532 and the poverty rate is the lowest in the entire country (9.2%).

41. Washington: this state has a dollar value while works out to $0.97 and it saw an increase (2008-2013) of +7.5%. The poverty rate is 13.2% and the median household income is $61,366.

40. Virginia: the value of the dollar here is $0.97 and that increased by +7.3% over the period 2008-2013. The median household income is $64,902 and the poverty rate is 11.8% (12^th lowest).

39. Colorado: This state has a dollar value that is $0.98 (increasing from 2008 to 2013 by an average of +5.6%). The median household income is $61,303 and a poverty rate of 12%.

38. Delaware: Tis state sees a value of the dollar working out to $0.99 (increasing by +8.1% over the period 2008-2013). The median household income is $59,716 and the poverty rate stands at 12.5%.

37. Illinois: The value of the dollar here is also $0.99 and it increase by +6.7% over the period 2008-2013. The median household income is $57,444 and the poverty rate 14.4%.

36. Vermont: This state has a value that is exactly $1. That increased in value by +7.7% over the five –year period of 2008-2013. The poverty rate is 12.2% and the household median income is $54,166.

35. Florida: This state is the first state in the list where you start to get more value for your money. The dollar gets you $1.01 here. That increased by +9.7% over the period 2008-2013 (6^th highest increase in the country). The median household income stands at $47,463 and the poverty rate is 16.5%.

34. Oregon: the value of the dollar here also stands at $1.01. That increased by +7.1 over the period 2008-2013. The poverty rate is 16.6% and the median income for households stands at $51,075.

33. Pennsylvania: The value of the dollar here is $1.01 (increasing by +7.1%). The median household income is $53,234 and the poverty rate is 13.6%.

32. Nevada: This state will give you $1.02 for a dollar (increasing by +10.3% over the period 2008 and 2013, which is the 2^nd highest increase for that period in the country). Median household income stands at $51,450 and the poverty rate is 15.2%.

31. Rhode Island: This state will give you $1.02 for a dollar (increase of +9.8%, the 4^th highest in the country). The median income stands at $54, 891 and the poverty rate is 14.3%

30. Maine: This state has a dollar value of $1.02 and an increase for the period of +7.8%. The median income for households is $49,462 and the poverty rate stands at 14.1%.

29. Minnesota: The dollar value here is also $1.02 (increasing by +7.3% over the period 2008-2013). The poverty level here is 11.5% and the median income is $61,481 (10^th highest in the country).

28. Utah: In Utah your dollar would be worth $1.03 (+7.1 increase between 2008 and 2013). The poverty rate stands at 11.7% and the median household income is $60,922.

27. Arizona: in this state the dollar is worth $1.03 (up by 11.4%, which is the highest in the country for the period 2008-2013). The median household income is $50,068 and the poverty rate is 18.2% which is the tenth highest in the country).

26. Texas: in this state the value of the dollar is also $1.03 and that saw an increase of +7.3% over the same period of five years. The poverty rate is 17.2% and the median household income is $53,035.

25. Wyoming: The value of the dollar here is $1.04 (up +7.8% from 2008-2013). The median household income is $57,055 and the poverty rate is the 6^th lowest in the country at 11.2%.

24. New Mexico: The value of the dollar stands at $1.05 (up 6.8% over the period 2008-2013). The median household income is $44,803 and the poverty rate is 21.3% (which is the 2^nd worst in the country).

23. Montana: the dollar here will get you $1.06 (up +8.5% or the 11^th highest). Median household income stands at $46,328 (10^th lowest in the country) and the poverty rate is 15.4%.

22. Michigan: The value of the dollar here is $1.06 (up by +8.9%, or the 9^th largest increase for 2008-2013). The poverty rate is 16.2% and household income stands at $49,847.

21. Wisconsin: here the dollar is worth $1.08 (an increase of +7.6%). The median household income stands at $52,622 and there is a poverty rate in this state equal to 13.2%.

20. Idaho: here the dollar is worth $1.08 (the 3^rd largest increase of +10.3% over the period 2008-2013). The median household income stands at $47,861 and the poverty rate is 14.8%.

19. Georgia: Georgia has a dollar value equal to $1.09 (up by +9.4%, or the 7^th largest increase in the country). Median household income stands at $49,321 and the poverty rate is the 7^th worst in the country (18.3%).

18. North Carolina: This state has a value of the dollar equal to $1.09 (increasing by +7.9% for the period 2008-2013). Median household income is $46,556 and the poverty rate is 17.2%.

17. North Dakota: The value of the dollar here is also worth $1.09 (up by just 4.1%, which works out the smallest increase over the period 2008-2013). Median income for households is $59,029 and the poverty rate is the 9^th lowest (11.5%).

16. Indiana: Indiana also has a dollar value equal to $1.09 (increasing by +7.3%). Median household income is $49,446 and the poverty rate is 15.2%.

15. Louisiana: The value of the dollar here is $1.10 (+6.9% over the period 2008-2013). The poverty rate is the 3^rd worst in the country (19.8%) and the median household income is the 7^th lowest ($44,555).

14. Kansas: Here the dollar is worth $1.10 (+5.7%, the 4^th lowest increase). The median household income stands at $52,504 and the poverty rate is 13.6%.

13. Tennessee: The value of the dollar here is also $1.10 (up +7.4%). Median household income is $44,361 and the poverty rate is the 7^th highest in the country at 18.3%.

12. South Carolina: The value of the dollar is $1.11 (up +8.2%). Median household income is $45,238 (9^th lowest) and the poverty rate is 18%.

11. Nebraska: here the dollar is worth $1.11 and that saw an increase of +6.6% for the period 2008-2013. Median household income stands at $52,686 and the poverty rate is 12.4%.

10. Iowa: the value of the dollar here is $1.11 (up 5.5%, or the 2^nd smallest increase). Median household income is $53,712 and the poverty rate is 12.2%.

9. Oklahoma: The dollar here is worth $1.11 (up 6.3% or the 8^th lowest increase in the country for 2008-2013). The poverty rate is 16.6% and the median household income here is $47,529.

8. Ohio: the dollar here is worth $1.12 (up +8%). The poverty rate is 18.8% and household income has a median of $49,308.

7. Missouri: The value of the dollar is $1.12 (up 5.8% or the 6^th lowest increase for 2008-2013 in the country). Median household income is $48,363 and the poverty rate is 15.5%.

6. Kentucky: the value of the dollar here is $1.12 (up by +7.3%). The poverty rate is the 5^th highest in the country (19.1%) and the median household income here stands at $42,958.

5. West Virginia: the dollar here is worth $1.13 (up 5.8% or the 5^th lowest increase for 2008-2013 in the country). Median household income is $41,059 and the poverty rate is the 7^th highest at 18.3%.

4. Alabama: the value of the dollar is $1.14 (up by +7.4% for 2008-2013). The median household income here works out to $42,830 (the 4^th worst in the country) and the poverty rate is 19.3%, which is the 4^th highest in the country.

3. South Dakota: the value of the dollar here stands at $1.14 (up by +6.6% between 2008 and 2013). Median household income stands at $50,979 and the poverty rate is 14.2%.

2. Arkansas: The value of the dollar stands at $1.14 and that saw an increase of +6.8% between 208 and 2013. The 3^rd lowest income for households in the country is here and stands at $41,262. The poverty rate is 18.9%.

1. Mississippi: Here the value of the dollar stands at $1.15, the highest in the entire country. It saw an increase in value between 2008 and 2013 equal to +7%. Median household income is also the lowest in the country ($39,680). The poverty rate is also the highest at 21.5%.

If we compare the national average of goods and services and then compare how far a dollar would go in each state, it’s Mississippi that will get you the best value for your money. It’s the state in which you can get more for a dollar than in any other state in the USA. But, you’ll be earning far less than anywhere else. Which would you prefer? Would you like to live in Mississippi where your dollar turns out being worth $1.15 by comparison with the national average of goods and services? Or would you prefer to live in Hawaii, which is the most expensive state in the USA for goods and services? You’ll only get $0.86 for your dollar by comparison with the national average there and so end up forking out more than you might like. Mississippi has the highest poverty rate in the country, anyhow. In the states that have the highest cost of living like in Hawaii, the average income exceeds the national average. Money attracts money, doesn’t it? The more you earn, the more they charge you. Isn’t that so? Never let on that you have millions stashed away in the banks, people will just start overcharging you more and bumping up the prices.

But, hey, what’s a dollar these days? Even around the world it doesn’t have the same value, does it?

What would that dollar get you around the world?

1.       Hungary – you could buy a bottle of wine in this country for just $1.

2.       In Hong Kong it would only get you a single slice of bread though.

3.       If you were in India, you would be able to buy six cups of tea in a single day.

4.       In China you would be able to eat a whole meal of 10 veggie dumplings.

5.       You would be able to sit at a café in Italy and get an expresso coffee.

6.       And in the Czech Republic you get drink a couple of bottles of beer.

7.       Or a baguette of bread in France.

8.       If you were travelling in Poland, you could knock back a shot of Vodka in a bar.

9.       In the UK you would be in a position to buy two cigarettes.

10.   Or a foot massage for half an hour in the Philippines.

Wherever you are going in the world and wherever you are, the dollar isn’t worth the same. If we were to up the ante, and you started talking about a million dollars, then you would get a lot more in some places than at home in the USA. That million dollars would get you just 17 square feet of property space in Monaco, which is the world’s most expensive place for property! In Hong Kong, the second most expensive place in the world for real estate prices, it wouldn’t bring in more than 20 square feet. London fairs hardly any better with just 21 square feet of property space. Maybe it’s better to sticking to the places like Cape Town in South Africa, where you could get 284 square feet of property, or Dubai with 145 square feet.

It’s not just the money that counts in the world; it’s the value of that money and just how far it can go every day for living expenses. What about in your city, what can you get for a dollar these days? Probably not a lot!

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