What's a Dollar Worth Where You Live?

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How far does a dollar goes across the country?
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Where you live, what can you buy for $1.00? What kind of apartment can you rent for $1,000? What kind of house can you buy for $300,000?

According to new data from the Commerce Department's Bureau of Economic Analysis, a dollar buys the most goods and services in the state of Mississippi and the least in Washington, D.C., with Hawaii coming in at a close second.

That means that the national median salary of $53,046 has vastly different purchasing power depending on which state you call home. But what does this data mean when it comes to how people value location and affordability in choosing where to live or whether or not to move?

Joining The Takeaway to weigh in is Daniel Shoag, Assistant Professor of Public Policy at the Harvard Kennedy School of Government.