MSN recently did an article about the value of a dollar in each state and the differences are quite shocking. They report,
“The value of a dollar is not the same everywhere. Prices even of identical items vary dramatically depending on where they are sold.” Washington States statistics comparatively were:
“The Bureau of Economic Analysis calculates regional price parities — differences in the price levels of goods and services — in each state. Using this data from the BEA, 24/7 Wall St. reviewed the value of a dollar in every state.
The value of a dollar goes up in places where goods and services are less expensive. Areas with low costs of living tend to be in southern states or in areas where incomes are generally lower. By contrast, the most expensive states — where your dollar is worth the least — tend to be home to some of the nation’s largest urban clusters.
“While the price of many goods and services varies across the country, much of the differences in cost of living between states are the result of differences in housing costs.” To those of us in the real estate industry, this is no surprise.
Find out what the value is in each state by reading the the full article.
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