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With fast-food prices increasing by an average of 60% over the past decade, personal-finance company WalletHub has published its updated report on the States Where People Spend the Most & Least on Fast Food, highlighting where these purchases place the greatest strain on Americans’ budgets.
“Mississippians pay more for fast food relative to their income than anyone else in the country," said Chip Lupo, WalletHub analyst. "Buying just one fast-food burger, a small pizza, and a fried chicken sandwich costs residents 0.48% of the median monthly household income. For comparison, the same purchases would only cost 0.27% of the median monthly household income in Massachusetts.”
To assess where consumers spend the most and least relative to their income, WalletHub analyzed average prices for burgers, pizza, and fried chicken sandwiches across all 50 states and compared them with each state’s median household income.
1. Mississippi (0.48%)
2. Arkansas (0.44%)
3. Louisiana (0.44%)
4. New Mexico (0.44%)
5. West Virginia (0.44%)
6. Alabama (0.44%)
7. Montana (0.43%)
8. Kentucky (0.42%)
9. Oklahoma (0.41%)
10. Florida (0.40%)
41. Washington (0.32%)
42. Colorado (0.32%)
43. Virginia (0.31%)
44. Minnesota (0.31%)
45. New Hampshire (0.30%)
46. Connecticut (0.30%)
47. Utah (0.29%)
48. Massachusetts (0.29%)
49. Maryland (0.28%)
50. New Jersey (0.27%)
"The USDA Economic Research Service reports that food-away-from-home prices are predicted to jump another 3.6% this year, leaving households feeling deeply squeezed," said Andrew Burnstine, associate professor, Lynn University. "Restaurant industry experts deeply empathize with this modern financial tightrope with one prominent consumer analyst stating, ‘Financially pinched families are aggressively scaling back their restaurant visits and retreating back to the safety of grocery store home cooking to protect their remaining savings.’”
To view the full report and your state’s rank, click here.