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Dollar value in New Jersey amounts to 84 cents based on cost of living | New Jersey

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The dollar’s purchasing power in New Jersey is 84 cents based on the regional cost of items such as housing, groceries and services in 2019, according to a new analysis from the website 24/7 Wall St. New Jersey is tied with California and New York for the worst value in the U.S.

Goods and services in states where household incomes are below the U.S. average tend to be less expensive than in states with household incomes above the national median of $59,729, the study concludes.

Each state’s dollar value was estimated by dividing 100 (the dollar’s base value) by estimates for regional price parity, based on the Bureau of Economic Analysis’ 2019 data, the most recent numbers available.

New Jersey has a 2020 personal income per capita of $75,245. That figure was compared to the state’s dollar value and price parity…

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