HOW FAR DOES IT GO?: The dollar doesn’t go as far in Vermont as it does in many other U.S. states, according to a study by the website 24/7 Wall St.
In a 24/7 Wall St. ranking of relative purchasing power in each state, Vermont finished 38th out of 50 states.
The value of a dollar in Vermont came in at $0.98.
According to the study, common factors among states where the dollar doesn’t go very far include large metropolitan areas with wealthy residents residing. Conversely, states where the dollar tends to go further generally are rural with less wealthy residents living there.
Some of the key points for Vermont’s ranking include that the state’s personal income per capita is $53,598, and the state’s “Income Adjusted by Cost of Living” is determined to be $47,971. Also, the median home value in Vermont is $226,300.
Alabama, Alaska and Arizona have their dollars go the farthest, according to the study. Wyoming, Wisconsin and West Virginia are the states in which the dollar gets the least for its value.
The study authors explain the formula they used for calculating the dollar value for each state:
We calculated the value of a dollar in each state by dividing 100 (which represents the base value of $1.00) by every state’s relative price parity figure. We also reviewed the BEA’s [Bureau of Economic Analysis] per capita personal income data for all states in 2016. To arrive at the effective personal income value for every state, we divided the 2016 per-capita-personal income figure by the 2016 regional price parity value. Median home values came from the 2016 U.S. Census Bureau’s American Consumer Survey.
Nationally the dollar has lost value over the last century. According to the Virginia Tea Party Patriot Federation, the dollar has lost 98 percent of its value since the inception of the Federal Reserve system in 1913.
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.
Michael Bielawski is a reporter for True North Reports. Send him news tips at bielawski82@yahoo.com and follow him on Twitter @TrueNorthMikeB.
I don’t think this analysis included all the little taxes, fees and costs that are imposed by policy in this state that drive up the cost of everything. Other analyses point to a cost of living here that is 9% about the national average. the one shows a minimum difference between Vt and the national average. Its not correct.
heating fuel and high fuel tax