Here's the value of $1 in each state, according to new data

In the U.S., apparently not every dollar is equal.

The value of $1 varies depending on where you go. According to new data compiled by 24/7 Wall Street from the Bureau of Economic Analysis (BEA), a dollar goes the furthest in America's "poorest states," such as Mississippi and Alabama.

Overall, purchasing power is nearly 35 percent greater in The Magnolia State compared to New York, Forbes reported last year, citing 2016 findings from the BEA. In New York, $100 is worth only about $86.51, while $100 in Mississippi is valued at $115.74, the publication stated.

The dollar's worth often fluctuates — both within U.S. borders and overseas — depending on exchange rates, Treasury notes and foreign exchange reserves, The Balance reports. In the U.S., it's worth keeping an eye on how real estate, groceries and prices of other goods fluctuate in different locations.

"The value of the dollar increased 28% between 2014 and 2016, but by 2018 it had fallen 14%," according to the financial site, which blames inflation for greatly bringing down the dollar's value. "By 2018, the dollar's value was almost half what it was in 1990."

According to 24/7 Wall Street's research, only four states (Rhode Island, Florida, Oregon and Delaware) are actually worth $1. The states that were named the most expensive include New Jersey, California and New York, with each averaging about $0.87 to $0.88 on the dollar.

Hawaii was by far the priciest state — with a $1 being worth only a measly $0.84. The warm-weather state was also dubbed the most expensive state to live in last year. The cost of living for a household of one to two in Hawaii is $111,892, while the average income is $71,977, per 2018 analysis by GOBankingRates.


To see which state gives you the most bang for your buck (literally), here's a look at what $1 is worth in all 50 states from 24/7 Wall Street.

Mississippi: $1.16

Alabama: $1.15

Arkansas: $1.15

West Virginia: $1.14

Kentucky: $1.14

South Dakota: $1.13

Oklahoma: $1.12

Ohio: $1.12

Missouri: $1.12

Iowa: $1.11

Tennessee: $1.11

Indiana: $1.11

South Carolina: $1.11

Louisiana: $1.11

Kansas: $1.10

Nebraska: $1.10

North Carolina: $1.10

North Dakota: $1.09

Georgia: $1.09

Wisconsin: $1.08

Idaho: $1.08

Michigan: $1.07

New Mexico: $1.07

Montana: $1.06

Arizona: $1.04

Minnesota: $1.03

Wyoming: $1.03

Texas: $1.03

Utah: $1.03

Nevada: $1.03

Maine: $1.02

Pennsylvania: $1.02

Illinois: $1.01

Rhode Island: $1.00

Florida: $1.00

Oregon: $1.00

Delaware: $1.00

Vermont: $0.98

Virginia: $0.98

Colorado: $0.97

Alaska: $0.95

Washington: $0.95

New Hampshire: $0.94

Massachusetts: $0.93

Connecticut: $0.92

Maryland: $0.91

New Jersey: $0.88

California: $0.87

New York: $0.87

Hawaii: $0.84

Fox Business' Leia Klingel contributed to this report.