FILE - Illinois State Capitol

The Illinois State Capitol in Springfield, Illinois.

(The Center Square) – The purchasing power of a dollar in Illinois is $1.02 based on the regional cost of items such as housing, groceries and services in 2018, according to a new analysis from the website 24/7 Wall St.

Goods and services in relatively poorer states tend to be less expensive than in states that are home to large, wealthy metropolitan areas, 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’ 2018 data, the most recent numbers available.

Illinois has a personal income per capita of $56,919. That figure was compared to the state’s dollar value and price parity number to ascertain the effective personal income of residents on average – $53,893.

The median home value in the state, $203,400, reflects the 2018 U.S. Census Bureau’s American Consumer Survey.

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The Dollar’s Purchasing Power, State by State

StateValue of DollarPersonal Income Per CapitaIncome Adjusted by Cost of LivingMedian Home Value
Alabama$1.16$42,240$45,397$147,900
Alaska$0.95$59,605$52,816$276,100
Arizona$1.04$44,414$42,742$241,100
Arkansas$1.17$43,292$47,158$133,100
California$0.87$63,711$51,274$546,800
Colorado$0.98$58,500$53,315$373,300
Connecticut$0.94$76,481$66,978$277,400
Delaware$1.01$52,599$49,436$255,300
Florida$0.99$50,199$46,346$230,600
Georgia$1.08$46,519$46,471$189,900
Hawaii$0.85$55,414$43,595$631,700
Idaho$1.08$43,994$44,193$233,100
Illinois$1.02$56,919$53,893$203,400
Indiana$1.12$47,124$48,997$147,300
Iowa$1.12$50,243$52,288$152,000
Kansas$1.11$51,474$53,125$159,400
Kentucky$1.14$42,527$44,959$148,100
Louisiana$1.12$46,245$48,178$167,300
Maine$1.00$48,881$45,381$197,500
Maryland$0.92$63,426$54,360$324,800
Massachusetts$0.91$71,886$60,866$400,700
Michigan$1.08$48,480$48,742$162,500
Minnesota$1.03$57,566$54,857$235,400
Mississippi$1.16$37,904$40,927$123,300
Missouri$1.13$47,784$49,979$162,600
Montana$1.07$47,611$47,407$249,200
Nebraska$1.12$53,364$55,358$161,800
Nevada$1.03$49,290$46,970$292,200
New Hampshire$0.94$61,429$53,832$270,000
New Jersey$0.87$68,409$55,174$344,000
New Mexico$1.10$41,663$42,491$174,700
New York$0.86$68,710$54,819$325,500
North Carolina$1.09$46,126$46,650$180,600
North Dakota$1.10$55,598$57,008$198,700
Ohio$1.13$48,793$51,249$151,100
Oklahoma$1.13$46,267$48,633$140,000
Oregon$0.99$50,951$46,819$341,800
Pennsylvania$1.03$56,252$53,566$186,000
Rhode Island$1.01$54,800$51,261$273,800
South Carolina$1.10$43,702$44,531$170,800
South Dakota$1.14$52,426$55,377$171,500
Tennessee$1.11$46,889$48,441$177,500
Texas$1.03$50,483$48,443$186,000
Utah$1.04$46,431$44,618$303,300
Vermont$0.97$54,342$49,001$233,100
Virginia$0.98$57,910$52,704$281,700
Washington$0.93$62,122$53,502$373,100
West Virginia$1.14$40,907$43,268$121,300
Wisconsin$1.09$51,647$52,182$188,500
Wyoming$1.08$60,375$60,458$230,500

Source: 24/7 Wall St.