The Center Square
The dollar’s purchasing power in Louisiana is $1.12 based on the regional cost of items such as housing, groceries and services in 2019, according to a new analysis from the website 24/7 Wall St.
Goods and services in states where household incomes are below the U.S. average tend to be less expensive than in states with household incomes above the national median of $59,729, the study concludes.
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’ 2019 data, the most recent numbers available.
Louisiana has a 2020 personal income per capita of $50,037. That figure was compared to the state’s dollar value and price parity number to calculate the effective personal income of residents on average – $56,091.
The median home value in the state, $172,100, reflects the 2019 U.S. Census Bureau’s American Consumer Survey.
The Dollar’s Purchasing Power, State by State:
| State | Value of Dollar | Personal Income Per Capita | Income Adjusted by Cost of Living | Median Home Value |
| Alabama | $1.14 | $46,908 | $53,569 | $154,000 |
| Alaska | $0.95 | $64,780 | $61,476 | $281,200 |
| Arizona | $1.04 | $48,950 | $50,761 | $255,900 |
| Arkansas | $1.15 | $47,109 | $54,317 | $136,200 |
| California | $0.84 | $71,480 | $59,757 | $568,500 |
| Colorado | $0.98 | $58,500 | $53,315 | $373,300 |
| Connecticut | $0.95 | $79,771 | $75,782 | $280,700 |
| Delaware | $1.01 | $56,768 | $57,109 | $261,700 |
| Florida | $0.99 | $55,337 | $54,784 | $245,100 |
| Georgia | $1.07 | $51,165 | $54,644 | $202,500 |
| Hawaii | $0.81 | $60,729 | $49,008 | $669,200 |
| Idaho | $1.08 | $48,616 | $52,408 | $255,200 |
| Illinois | $1.03 | $62,977 | $64,614 | $209,100 |
| Indiana | $1.11 | $51,340 | $57,141 | $156,000 |
| Iowa | $1.11 | $55,218 | $61,292 | $158,900 |
| Kansas | $1.11 | $56,073 | $62,129 | $163,200 |
| Kentucky | $1.13 | $46,507 | $52,367 | $151,700 |
| Louisiana | $1.12 | $50,037 | $56,091 | $172,100 |
| Maine | $1.01 | $54,225 | $54,605 | $200,500 |
| Maryland | $0.92 | $68,258 | $63,002 | $332,500 |
| Massachusetts | $0.90 | $79,721 | $71,430 | $418,600 |
| Michigan | $1.08 | $52,987 | $57,067 | $169,600 |
| Minnesota | $1.02 | $61,540 | $62,771 | $246,700 |
| Mississippi | $1.16 | $41,745 | $48,257 | $128,200 |
| Missouri | $1.11 | $51,177 | $56,960 | $168,000 |
| Montana | $1.07 | $53,329 | $56,795 | $253,600 |
| Nebraska | $1.11 | $57,942 | $64,026 | $172,700 |
| Nevada | $1.03 | $53,635 | $55,030 | $317,800 |
| New Hampshire | $0.94 | $66,418 | $62,101 | $281,400 |
| New Jersey | $0.84 | $75,245 | $63,206 | $348,800 |
| New Mexico | $1.09 | $45,803 | $49,879 | $180,900 |
| New York | $0.84 | $75,548 | $63,234 | $338,700 |
| North Carolina | $1.08 | $50,086 | $54,243 | $193,200 |
| North Dakota | $1.11 | $59,388 | $65,743 | $205,400 |
| Ohio | $1.12 | $53,296 | $59,478 | $157,200 |
| Oklahoma | $1.13 | $49,249 | $55,553 | $147,000 |
| Oregon | $0.98 | $56,765 | $55,516 | $354,600 |
| Pennsylvania | $1.03 | $62,198 | $64,064 | $192,600 |
| Rhode Island | $0.99 | $60,837 | $60,046 | $283,000 |
| South Carolina | $1.09 | $47,502 | $51,540 | $179,800 |
| South Dakota | $1.12 | $57,273 | $64,260 | $185,000 |
| Tennessee | $1.10 | $50,547 | $55,753 | $191,900 |
| Texas | $1.04 | $54,841 | $56,760 | $200,400 |
| Utah | $1.04 | $52,251 | $54,080 | $330,300 |
| Vermont | $0.97 | $58,650 | $56,832 | $233,200 |
| Virginia | $0.99 | $62,362 | $61,551 | $288,800 |
| Washington | $0.92 | $68,322 | $62,583 | $387,600 |
| West Virginia | $1.13 | $45,109 | $50,928 | $124,600 |
| Wisconsin | $1.08 | $55,487 | $59,981 | $197,200 |
| Wyoming | $1.07 | $63,263 | $67,818 | $235,200 |
Source: 24/7 Wall St.
