Average Income and Cost of Living in Every State

Average Income and Cost of Living in Every State Geography can transform a paycheck. That is: How much your wages are actually worth depends largely on where you live. On some level, everyone understands thatâ€"even if you don’t have a firm grasp on precisely how far a $50,000 salary would go in California, compared with, say, Ohio. MONEY set out to find the answer, meshing average income data with a cost of living measurement for each state. We pulled average pay for each state, based on 2015 median household income from the Census Bureau’s American Community Survey. Then we adjusted those figures based on each state’s 2015 “regional price parity”â€"a calculation by the U.S. Bureau of Economic Analysis that shows how much a certain amount of cash will buy you in a given place. The higher the price parity number for a given state, the more residents will pay for items such as housing, food, and transportation. The BEA calculates this by looking at the price of goods and services in the Consumer Price Index, as well as rents reported to the Census Bureau’s American Community Survey. A price parity figure of 118.8, like Hawaii’s, means that goods and services there cost almost 19% more than the national average. Prices in Mississippi, meanwhile, with a price parity of 86.2, are about 14% less than the national average. NOTE: Real pay values based on the 2015 median household incomes in the Census Bureau’s American Community Survey and the 2015 regional price parity from the U.S. Bureau of Economic Analysis. Living expenses tend to cluster by region. The Northeast is comparatively more expensive than much of the Southeast, for example. But there are considerable differences even among states that are neighbors. In Illinois, for example, the real value of $1,000 is $1,003. In next-door Indiana and Missouri, that rises to $1,103 and $1,120, respectively, since those are lower-cost states. In some states, such as Delaware, there’s little difference between the median household income and how much it can purchase locally. Delaware has a price parity (100.4) that’s nearly in line with the national average (which gets indexed to 100). But in other areas, such as North Dakota or Massachusetts, the price parity calculation can either add or subtract thousands from an average earner’s spending power. A few notes: Household income doesn’t count non-cash benefits and doesn’t account for property or personal income taxes, other deductions, or Social Securityâ€"so it’s not the same as take-home pay. The cost of living and average income can also vary considerably within a state, so your state’s real salary may not reflect what workers in a specific city earn or pay to live. Here are the median household incomes, regional price comparisons, and real salary values in each U.S. state. Alabama Median household income: $44,765 Regional price parity out of 100: 86.8 Real income: $51,573 Alaska Median household income: $73,355 Regional price parity out of 100: 105.6 Real income: $69,465 Arizona Median household income: $51,492 Regional price parity out of 100: 96.2 Real income: $53,526 Arkansas Median household income: $41,995 Regional price parity out of 100: 87.4 Real income: $48,049 California Median household income: $64,500 Regional price parity out of 100: 113.4 Real income: $56,878 Colorado Median household income: $63,909 Regional price parity out of 100: 103.2 Real income: $61,927 Connecticut Median household income: $71,346 Regional price parity out of 100: 108.7 Real income: $65,636 Delaware Median household income: $61,255 Regional price parity out of 100: 100.4 Real income: $61,011 District of Columbia Median household income: $75,628 Regional price parity out of 100: 117 Real income: $64,639 Florida Median household income: $49,426 Regional price parity out of 100: 99.5 Real income: $49,674 Georgia Median household income: $51,244 Regional price parity out of 100: 92.6 Real income: $55,339 Hawaii Median household income: $73,486 Regional price parity out of 100: 118.8 Real income: $61,857 Idaho Median household income: $48,275 Regional price parity out of 100: 93.4 Real income: $51,686 Illinois Median household income: $59,588 Regional price parity out of 100: 99.7 Real income: $59,767 Indiana Median household income: $50,532 Regional price parity out of 100: 90.7 Real income: $55,713 Iowa Median household income: $54,736 Regional price parity out of 100: 90.3 Real income: $60,616 Kansas Median household income: $53,906 Regional price parity out of 100: 90.4 Real income: $59,631 Kentucky Median household income: $45,215 Regional price parity out of 100: 88.6 Real income: $51,033 Louisiana Median household income: $45,727 Regional price parity out of 100: 90.6 Real income: $50,471 Maine Median household income: $51,494 Regional price parity out of 100: 98 Real income: $52,545 Maryland Median household income: $75,847 Regional price parity out of 100: 109.6 Real income: $69,203 Massachusetts Median household income: $70,628 Regional price parity out of 100: 106.9 Real income: $66,069 Michigan Median household income: $51,084 Regional price parity out of 100: 93.5 Real income: $54,635 Minnesota Median household income: $63,488 Regional price parity out of 100: 97.4 Real income: $65,183 Mississippi Median household income: $40,593 Regional price parity out of 100: 86.2 Real income: $47,092 Missouri Median household income: $50,238 Regional price parity out of 100: 89.3 Real income: $56,258 Montana Median household income: $49,509 Regional price parity out of 100: 94.8 Real income: $52,225 Nebraska Median household income: $54,996 Regional price parity out of 100: 90.6 Real income: $60,702 Nevada Median household income: $52,431 Regional price parity out of 100: 98 Real income: $53,501 New Hampshire Median household income: $70,303 Regional price parity out of 100: 105 Real income: $66,955 New Jersey Median household income: $72,222 Regional price parity out of 100: 113.4 Real income: $63,688 New Mexico Median household income: $45,382 Regional price parity out of 100: 94.4 Real income: $48,074 New York Median household income: $60,850 Regional price parity out of 100: 115.3 Real income: $52,775 North Carolina Median household income: $47,830 Regional price parity out of 100: 91.2 Real income: $52,445 North Dakota Median household income: $60,557 Regional price parity out of 100: 92.3 Real income: $65,609 Ohio Median household income: $51,075 Regional price parity out of 100: 89.2 Real income: $57,259 Oklahoma Median household income: $48,568 Regional price parity out of 100: 89.9 Real income: $54,024 Oregon Median household income: $54,148 Regional price parity out of 100: 99.2 Real income: $54,585 Pennsylvania Median household income: $55,702 Regional price parity out of 100: 97.9 Real income: $56,897 Rhode Island Median household income: $58,073 Regional price parity out of 100: 98.7 Real income: $58,838 South Carolina Median household income: $47,238 Regional price parity out of 100: 90.3 Real income: $52,312 South Dakota Median household income: $53,017 Regional price parity out of 100: 88.2 Real income: $60,110 Tennessee Median household income: $47,275 Regional price parity out of 100: 89.9 Real income: $52,586 Texas Median household income: $55,653 Regional price parity out of 100: 96.8 Real income: $57,493 Utah Median household income: $62,912 Regional price parity out of 100: 97 Real income: $64,858 Vermont Median household income: $56,990 Regional price parity out of 100: 101.6 Real income: $56,093 Virginia Median household income: $66,262 Regional price parity out of 100: 102.5 Real income: $64,646 Washington Median household income: $64,129 Regional price parity out of 100: 104.8 Real income: $61,192 West Virginia Median household income: $42,019 Regional price parity out of 100: 88.9 Real income: $47,265 Wisconsin Median household income: $55,638 Regional price parity out of 100: 93.1 Real income: $59,762 Wyoming Median household income: $60,214 Regional price parity out of 100: 96.2 Real income: $62,593 This story has been updated to clarify that household income figures for each state are median household income, and to correct an error in the map graphic and North Dakota’s median household income.