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Where are the richest and poorest states based on household income?
#4
I would argue this isn't a very good article unless they adjust income for average cost of living in that state.

Earning $25/hr in California won't get you as far as earning $20/hr in Kentucky. According to this list, it still considers the Californian wealthier than the Kentuckian, even though the person in Kentucky could afford a better lifestyle and more luxuries.

For instance according to this:
https://money.cnn.com/calculator/pf/cost-of-living/index.html

Earning $23,572 in Dayton, OH or $23,936 in Louisville, KY is on par with $50,000 in San Francisco, CA as far as cost of living goes. According to your article, that makes the SF person over 2x as "rich", but in reality they have the exact same quality of life.

($19,345 in Louisville gets you the same as $50,000 in Manhattan.)

So unless they adjust for the cost of living, it's a pretty useless article.
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RE: Where are the richest and poorest states based on household income? - TheLeonardLeap - 10-24-2018, 02:25 AM

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