In three states, $1,000 loses $100 of spending power.

The cost of living varies among the states in the U.S., with each state having its own distinct identity and culture.

Living in Hawaii is expensive due to its small size, limited housing supply, and the need to import many everyday items. Additionally, retailers have limited competition, which motivates them to lower prices.

In Hawaii, $1,000 won't go very far as it can only buy you about $892 worth of goods and services, according to a U.S. Bureau of Economic Analysis comparison of prices nationwide.

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In California and Washington, D.C., BEA reports that $1,000 is only worth approximately $875 and $872, respectively. This is due to the high costs of necessities such as rent and groceries in these areas.

The relative value of $1,000 varies across all 50 states and the District of Columbia.

In some states, income tax could decrease the spending power of every dollar you earn, affecting the analysis.

BEA's analysis of price parity for consumable goods indicates that regions with higher prices tend to have higher local rents.

Why does your purchasing power decrease in states like Hawaii and California? According to RentCafe, as of March 2024, the average rents in Hawaii and California both surpassed $2,500 a month, making them the only two states with higher average rent prices.

The average weekly grocery cost for households in Hawaii is $334, which is the highest among all states, as per a 2023 Census Bureau Household Pulse survey.

According to the Bureau, Alaskan residents spend an average of $329 a week on groceries, while those in California spend $298.

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