By InBusiness Phoenix
A new study has revealed the most expensive states to live in based on disposable income adjusted for each region’s cost of living. Arizona has the fourth lowest purchasing power in the country. Arizona’s average annual disposable income is just $55,333, which is 2.9% lower than the national average.
The study, conducted by QR Code Generator, utilized state-by-state economic data from the Bureau of Economic Analysis (BEA) and the Missouri Economic Research and Information Center. The research analyzed each state’s average annual disposable income (a person’s income after taxes) and the cost-of-living index to create a ranking of states by purchasing power. Each state received a purchasing power score on a scale of 100. Each state received a purchasing power score out of 100. Lower scores indicate more expensive areas with less disposable income after adjusting for cost of living.
