Do You Know Our Richest & Poorest States?? https://www.rallypoint.com/answers/do-you-know-our-richest-poorest-states <div class="images-v2-count-0"></div>Our richest &amp; poorest states based on income may surprise you Tue, 29 Sep 2015 03:20:04 -0400 Do You Know Our Richest & Poorest States?? https://www.rallypoint.com/answers/do-you-know-our-richest-poorest-states <div class="images-v2-count-0"></div>Our richest &amp; poorest states based on income may surprise you Sgt Tom Cunnally Tue, 29 Sep 2015 03:20:04 -0400 2015-09-29T03:20:04-04:00 Response by SSgt David Tedrow made Sep 29 at 2015 4:38 AM https://www.rallypoint.com/answers/do-you-know-our-richest-poorest-states?n=1001541&urlhash=1001541 <div class="images-v2-count-0"></div><a target="_blank" href="http://www.usatoday.com/story/money/personalfinance/2015/09/26/24-7-wall-st-richest-poorest-states/72685684/">http://www.usatoday.com/story/money/personalfinance/2015/09/26/24-7-wall-st-richest-poorest-states/72685684/</a> <div class="pta-link-card answers-template-image type-default"> <div class="pta-link-card-picture"> <img src="https://d26horl2n8pviu.cloudfront.net/link_data_pictures/images/000/023/525/qrc/635787788032379527-ThinkstockPhotos-122486570.jpg?1443515909"> </div> <div class="pta-link-card-content"> <p class="pta-link-card-title"> <a target="blank" href="http://www.usatoday.com/story/money/personalfinance/2015/09/26/24-7-wall-st-richest-poorest-states/72685684/">Video: America&#39;s richest (and poorest) states</a> </p> <p class="pta-link-card-description">The Magnolia State has the lowest median income — $39,680. The highest? That&#39;s the Old Line State, at $73,971.</p> </div> <div class="clearfix"></div> </div> SSgt David Tedrow Tue, 29 Sep 2015 04:38:34 -0400 2015-09-29T04:38:34-04:00 Response by SGT Jerrold Pesz made Sep 29 at 2015 12:29 PM https://www.rallypoint.com/answers/do-you-know-our-richest-poorest-states?n=1002293&urlhash=1002293 <div class="images-v2-count-0"></div>Ranking states by income is somewhat misleading. You have to also factor in cost of living. I have lived in several states and there is a huge difference. Where income is high so is cost of living. On paper I took a pretty good hit on income when I moved to TN but I actually saw an increase in effective income. SGT Jerrold Pesz Tue, 29 Sep 2015 12:29:26 -0400 2015-09-29T12:29:26-04:00 Response by MAJ Private RallyPoint Member made Sep 29 at 2015 4:12 PM https://www.rallypoint.com/answers/do-you-know-our-richest-poorest-states?n=1003069&urlhash=1003069 <div class="images-v2-count-0"></div>There are three different measurements, highest state income, highest income per person, or highest effective purchasing power. Each has vastly different results, the effective purchasing power is the best result for measuring personal income as it adjust the state economy number of people and the cost of living in that state. <br /><br />California has the highest state income, (larger than most countries) but a very large population so they are 10th when you look at income per person.<br />Maryland is the highest median household income. (mostly the areas surrounding DC.)<br /><br />But when you look at the real purchasing power DC has a hundred dollar purchasing power of $84.60 so things are 15.4% more expensive there than the national average. Tennessee is the best with a purchasing power rate of $110.25 so when you see the deep south states on the poor list it's not that they are poor but their money goes further. <br /><br />Another interesting point is the Gini Coefficient which rates income disparity, DC is the highest, and with New England and California rating in the most income inequality. MAJ Private RallyPoint Member Tue, 29 Sep 2015 16:12:21 -0400 2015-09-29T16:12:21-04:00 2015-09-29T03:20:04-04:00