Dollar’s value in Colorado ranks 11th lowest among the 50 states

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Published Friday, August 2, 2019

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Colorado finished 40th in a ranking by the website 24/7 Wall St. of relative purchasing power within each state.

The value of a dollar in Colorado came in at $0.97. Goods and services in relatively poorer states tend to be less expensive than in states that are home to large, wealthy metropolitan areas, according to the analysis.

Each state's dollar value was estimated by dividing 100 (the dollar's base value) by estimates for regional price parity, based on the Bureau of Economic Analysis' 2016 data, the most recent numbers available.

Colorado has a personal income per capita of $56,846. That figure was divided by the state's price parity number to ascertain the effective personal income of residents on average - $48,963.

The median home value in the state, $348,900, reflects the 2016 U.S. Census Bureau's American Consumer Survey.

States Where a Dollar Goes the Furthest

Rank

State

Value of Dollar

Personal Income Per Capita

Income Adjusted by Cost of Living

Median Home Value

1

Mississippi

$1.16

$37,994

$39,901

$120,200

2 (tie)

Alabama

$1.15

$42,334

$43,684

$141,300

2 (tie)

Arkansas

$1.15

$42,566

$44,018

$128,500

3 (tie)

Kentucky

$1.14

$41,779

$43,273

$141,000

3 (tie)

West Virginia

$1.14

$40,578

$40,619

$119,800

6

South Dakota

$1.13

$50,141

$52,855

$167,600

7 (tie)

Missouri

$1.12

$46,635

$46,893

$156,700

7 (tie)

Ohio

$1.12

$48,242

$48,699

$144,200

7 (tie)

Oklahoma

$1.12

$46,128

$45,548

$137,400

10 (tie)

Indiana

$1.11

$46,646

$46,444

$141,100

10 (tie)

Iowa

$1.11

$48,823

$49,485

$149,100

10 (tie)

Louisiana

$1.11

$45,542

$45,363

$162,500

10 (tie)

South Carolina

$1.11

$42,736

$42,958

$161,800

10 (tie)

Tennessee

$1.11

$47,179

$46,885

$167,500

15 (tie)

Kansas

$1.10

$50,155

$50,504

$150,600

15 (tie)

Nebraska

$1.10

$52,110

$52,833

$155,800

15 (tie)

North Carolina

$1.10

$45,834

$45,216

$171,200

18 (tie)

Georgia

$1.09

$45,745

$44,525

$173,700

18 (tie)

North Dakota

$1.09

$54,306

$55,364

$194,700

20 (tie)

Idaho

$1.08

$43,155

$41,912

$207,100

20 (tie)

Wisconsin

$1.08

$50,756

$49,211

$178,900

22 (tie)

Michigan

$1.07

$47,582

$46,186

$155,700

22 (tie)

New Mexico

$1.07

$41,198

$40,049

$171,300

24

Montana

$1.06

$47,120

$45,041

$231,300

25

Arizona

$1.04

$43,650

$40,814

$223,400

26 (tie)

Minnesota

$1.03

$56,374

$52,075

$224,000

26 (tie)

Nevada

$1.03

$48,225

$43,972

$258,200

26 (tie)

Texas

$1.03

$49,161

$45,823

$172,200

26 (tie)

Wyoming

$1.03

$60,095

$55,183

$214,300

26 (tie)

Utah

$1.03

$45,340

$41,706

$275,100

31 (tie)

Maine

$1.02

$48,241

$43,817

$191,200

31 (tie)

Pennsylvania

$1.02

$55,349

$50,276

$181,200

33

Illinois

$1.01

$56,933

$51,070

$195,300

34 (tie)

Delaware

$1.00

$51,449

$46,305

$252,800

34 (tie)

Florida

$1.00

$49,417

$44,541

$214,000

34 (tie)

Oregon

$1.00

$49,908

$44,778

$319,200

34 (tie)

Rhode Island

$1.00

$54,523

$49,114

$257,800

38 (tie)

Vermont

$0.98

$53,598

$47,971

$226,300

38 (tie)

Virginia

$0.98

$56,952

$50,184

$273,400

40

Colorado

$0.97

$56,846

$48,963

$348,900

41 (tie)

Alaska

$0.95

$59,687

$51,079

$273,100

41 (tie)

Washington

$0.95

$60,781

$50,640

$339,000

43

New Hampshire

$0.94

$61,405

$51,929

$263,600

44

Massachusetts

$0.93

$70,073

$58,221

$385,400

45

Connecticut

$0.92

$74,561

$61,600

$273,100

46

Maryland

$0.91

$62,914

$51,645

$312,500

47

New Jersey

$0.88

$67,609

$52,651

$334,900

48 (tie)

California

$0.87

$62,586

$48,384

$509,400

48 (tie)

New York

$0.87

$68,667

$50,709

$314,500

50

Hawaii

$0.84

$54,565

$41,353

$617,400

Source: 24/7 Wall St.