Legalized recreational marijuana sales are expected to hit a billion dollars this year, but how much does legal weed cost in your town compared to the rest of the rest of the country?
West Coast cannabis consumers should consider themselves lucky if they’re worried about their legal weed prices. Across the country, states in the West, including California and Washington, have a lower price per gram than their East Coast counterparts.
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All this is according to the 2018 Cannabis Index as compiled by Seedo, the Tel Aviv-based cannabis company that creates products for home growers. The lowest price per gram was in Seattle where customers could purchase marijuana for $7.58 per gram while the high was found in Washington DC, with an $18.08 price per gram.
Here are the prices from lowest to highest:
- Seattle: $7.58
- Denver: $7.79
- Los Angeles: $8.14
- Miami: $9.27
- San Francisco: $9.27
- Phoenix: $9.35
- Dallas/Houston: $10.03
- New York: $10.76
- Boston: $11.01
- Philadelphia: $11.30
- Chicago: $11.46
- Washington D.C.: $18.08
As Bloomberg explains, “the data (collected in December and January) matters because it helps to show the kind of tax revenue that could be collected if weed was legalized—something that Canada plans to do later this year.” Applying the same tax rate that cigarettes accrue, New York could receive a possible $354 million in tax revenue while Toronto, which charges C$9.64 (USD $7.82) per gram, could add C$152 million a year in tax revenue.
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With legalized recreational marijuana sales expected to hit the country this year, it remains to be seen how the Canadian market will establish its prices. Federal and provincial authorities have already agreed to split the tax revenue. Provinces will monitor their own cannabis distribution, which explains why 75 percent of the tax revenue will go to the provinces.