Pouring Over the Numbers: How Your State Stacks Up in Coffee Value
- Massachusetts Brews Up the Best Deals for Coffee Lovers!
- Washington and California Steaming Close Behind in Coffee Affordability.
- New York and Colorado Percolate to the Top Ten, but Mississippi’s Prices Might Leave You Stirred.
Recent quantitative analysis has shed light on the regional affordability of coffee, highlighting disparities in purchasing power vis-à-vis average Starbucks prices.
PriceListo’s comprehensive research juxtaposes the mean Starbucks prices against median hourly earnings in each state, providing a clearer picture of where it’s most economically feasible to indulge in a coffee treat.
Massachusetts emerges as the leader in coffee affordability. With median hourly wages pegged at $39.32 and a benchmark price of 15 quintessential coffee items at precisely $4.00, the average expenditure for a customary order – comprising one frappuccino, one latte, and a juice – stands at $13.26. This translates to a mere 20.2 minutes of labor for a resident to cover their coffee expenses, positioning Massachusetts at the zenith of affordability.
Washington clinches the second spot. Here, the average order is slightly steeper at $13.58, but with the hourly earnings averaging $37.75, a Washingtonian would allocate 21.6 minutes of work time for their caffeine fix. The standard item price hovers around $4.15.
California ranks third in terms of affordability. The median item cost is $4.46, and an average order equates to $14.27. Given the state’s median hourly wage of $37.44, a Californian would need to dedicate 22.9 minutes of work to fund such an order.
Maryland and Virginia follow closely, securing the fourth and fifth ranks respectively. The typical order in Maryland is priced at $13.17, while Virginia’s stands at $12.60. With the average wages in these states recorded at $34.23 and $32.69, inhabitants would toil for roughly 23.1 minutes to finance their beverage.
In Connecticut, the average order demands $13.37, and with the state’s median hourly wage of $34.58, residents are looking at a 23.14-minute work commitment.
Both Minnesota and Colorado have a nearly identical pricing structure for the popular order at $13.55 and $13.57, respectively. With mean hourly earnings of $34.58 in Minnesota and $34.47 in Colorado, it’s a 23.5-minute and 23.6-minute work commitment for their denizens.
Rounding off the top ten are Hawaii and New York. Hawaii’s standard order price is $13.44, requiring 24 minutes of work at the state’s $33.59 average wage. Conversely, New Yorkers face a $14.47 typical order price, translating to a bit more than 24.2 minutes, given their $35.82 hourly wage.
However, not all states fare as well. At the affordability spectrum’s lower end lie Mississippi, Oklahoma, and New Mexico. For instance, in Mississippi, relative prices against average earnings denote that a standard coffee order might take up to 33.3 minutes of labor, a stark 65% increment compared to Massachusetts.
A spokesperson from PriceListo commented on the findings: “It’s perhaps surprising just how much the prices from the largest coffee chain in the US vary considering all these items are sold under the same brand. With this, residents of these states ought to feel fairly lucky, with the states at the other end of the spectrum spending a significantly higher portion of their income and working time to buy the exact same products.”
For a detailed breakdown of these financial metrics, refer to the data table below:
|State||Ave. hourly earnings ($)||Ave. price of 15 staple items||Price of typical order||No. of mins work for typical order|
Study by Pricelisto.com