A study by QR Code Generator highlights the states where purchasing power and low cost of living align to significant financial advantages. This is done using data from the Bureau of Economics Analysis and the Missouri Economic Research and Information Centre
Wyoming
Wyoming leads the nation in disposable income, adjusted for cost of living. The yearly disposable income of the population is $69,039, which is $9,000 more than the average for the country. The state’s low cost of living index of 95.1 further amplifies purchasing power. This combination results in a perfect 100 score for purchasing power. It makes Wyoming an attractive option for those seeking financial flexibility.
North Dakota
North Dakota closely follows Wyoming with an impressive annual disposable income of $67,093. The state’s remarkably low cost of living index of 92.8 contributes to its high purchasing power score of 99.3. Residents benefit from a balance of strong earnings and affordable living expenses. It creates a favorable economic environment for households to thrive financially.
Colorado
Colorado ranks third with a substantial disposable income of $69,353. Despite a slightly higher cost of living index of 101.8, the state maintains a strong purchasing power score of 89.3. This balance allows residents to enjoy the state’s natural beauty and outdoor lifestyle while maintaining financial stability. Colorado’s economic strength is evident in its ability to provide high incomes relative to living costs.
Illinois
Illinois, with a $62,317 yearly income, takes fourth place. The state is more appealing because of its 93.3 points as the cost of living index. It results in a purchasing power score of 86.1. This combination offers residents a favorable economic landscape, balancing both urban amenities with affordability.
Minnesota
Minnesota ranks fifth, offering an annual display income of $62,963. With a cost of living index of 94.8, the state achieves a purchasing power score of 85.2. This balance allows residents to enjoy a high quality of life without sacrificing financial stability. Both rural and urban areas are supported by the state’s economy. It provides diverse opportunities for financial growth.
South Dakota
South Dakota stands out with an annual disposable income of $64,656. Despite a slightly higher cost of living index of 97.6, the state maintains a strong purchasing power score of 84.8. This allows the people living here to experience a comfortable lifestyle without breaking the bank.
Texas
Texas stands out due to its low cost of living index of 90.3 and $59,422 yearly disposable income. This combination results in a purchasing power score of 83.7. The state’s diverse economy and affordable living costs create an attractive environment for residents and businesses alike. Texas demonstrates that economic opportunities can coexist with affordability.
Nebraska
Nebraska offers an annual disposable income of $61,144 with a cost of living index of 93.4. This balance yields a purchasing power score of 82.8. The state’s economic stability and affordability make it a feasible option for those seeking financial security. The combination of rural and urban areas in the state offers a wide range of chances for economic success.
Connecticut
Connecticut boasts the highest annual disposable income of $73,888. Despite a higher cost of living index of 113.2, the state ensures a strong purchasing power score of 82.5. This allows residents to enjoy the benefit of a thriving economy while managing higher living expenses.
Kansas
Kansas impresses with an annual disposable income of $56,940 and a low cost of living index of 87.3. The state’s affordability and economic opportunities create a favorable environment for people living there to build financial stability. Can just showcase that Midwest states can offer significant economic advantages to their residents.
Pennsylvania
Pennsylvania offers an annual disposable income of $60,071 with a cost of living index of 95.6. This balance yields a purchasing power score of 76.6. The state’s diverse economy and moderate living cost provide resistance to financial flexibility. Pennsylvania’s mix of urban centers and rural areas offers varied economic opportunities for the people living in the state.
Virginia
Virginia boasts an annual disposable income of $63,635. The state’s low living cost index is 101.1 which results in a purchasing power score of 76.6. The state’s strong economy and diverse job market contribute to its financial appeal. Virginia’s economic landscapes support a high quality of life while maintaining relative affordability for many residents.
Iowa
Iowa offers an annual disposable income of $56,247 with a cost of living index of 90.1. This balance results in a purchasing power score of 75.6. The state’s affordability and economic opportunities create a favorable environment for residents to build financial security. Iowa’s mix of agriculture and urban economies provides diverse options for economic growth.
Oklahoma
Oklahoma has an annual disposable income of $53,761. Its low cost of living index of 86.4 results in a purchasing power score of 75.2. The state’s affordability and economic diversity create an attractive environment for residents seeking financial stability. Oklahoma’s balance of urban and rural opportunity supports various lifestyle choices.
Missouri
Missouri offers an annual disposable income of $54,995 with a low cost of living index of 88.5. This balance caters to a purchasing powers code of 75. The state’s affordability and diverse economy provide the people living here with financial flexibility. Missouri’s mix of metropolitan areas and rural communities offers varied economic opportunities for its residents.
New Jersey
New Jersey boasts a high annual disposable income of $69,883. Despite a higher cost of living index of 113.7, the state maintains a solid purchasing power score of 73.3. This balance allows residents to benefit from the different economic opportunities while managing higher living expenses. New Jersey’s strong economy supports a high standard of living for many residents.
Washington
Washington offers a substantial annual discussible income of $70,589. Despite a higher living cost of 115.1, the state achieves a purchasing power score of 73. This allows residents to enjoy the benefits of a strong economy and its natural beauty. Washington’s diverse economic landscape supports various industries and lifestyle choices.
New Hampshire
New Hampshire has an annual disposable income of $69,245. With a cost of living index of 113.6, the state maintained a purchasing power score of 72.1. This score ensures that residents can benefit from strong earnings while maintaining higher living expenses.