New Study Ranks All 50 States By Grocery Spending Habits
There's nothing more frustrating than looking at your grocery receipt and feeling like you've spent a small fortune just to feed your family for the week. But have you ever wondered how your grocery spending compare to other people in your state?
Thanks to a new study from WalletHub, we can get a glimpse into how the affordability of groceries varies from state to state.
About the study
A new study from WalletHub compared the cost of 26 common grocery items and compares the total cost to the median income of residents in each state.
By examining the cost of groceries compared to how much residents are making, the study helps us understand which states are spending more of their hard-earned money on groceries. It's not about which states have higher grocery prices, but about how much of residents monthly earnings are spent on groceries in a given state.
States that spend the most on groceries
Mississippi takes the top spot on this list, as the state that spends the most at the grocery store. Mississippi households spend 2.64% of their median income on groceries.
States that follow closely behind are West Virginia with 2.57% and Arkansas with 2.49%. It's not that groceries are more expensive in these areas, but that residents of these states have lower median household incomes. This means that a larger percentage of their monthly earnings go towards groceries compared to other states.
The rest of the top 10
Behind Mississippi, West Virginia, and Arkansas, seven other states make up the list of the states that spend the most on groceries. Louisiana, Kentucky, Alabama, New Mexico, South Carolina, Tennessee, and Oklahoma all give up a larger portion of their monthly median income to groceries.
Many of these states are located in the South, where modest incomes have a hard time competing with the steadily rising cost of groceries.
States that spend the least on groceries
New Jersey and Massachusetts are tied for the states that spend the least, with only 1.51% of residents' median household income going towards groceries.
Maryland, New Hampshire, Utah, Connecticut, and Colorado all fall under the 2% mark, making them more affordable states to live in when it comes to grocery spending. These are states where the median household incomes are more compatible with the cost of groceries.
Ultimately, this study proves that grocery affordability isn't just about the price tags. A carton of eggs might cost the same in two different states, but the impact on your wallet will depend on your income.
The next time you look at your grocery receipt, remember that the strain on your food budget goes far beyond simple shelf prices.