Texas Gov. Rick Perry (R) came in first place in Iowa — when it comes to money spent per vote.

Perry’s campaign spent about $4.5 million on media in Iowa, more than any other candidate. As of early Wednesday morning, he had garnered only 12,442 votes out of more than 121,000 cast.

That means that Perry spent about $364 per vote.

Former Massachusetts governor Mitt Romney (R), who is in a tight race with former senator Rick Santorum (R-Pa.) for the top spot in Iowa, spent about $1.47 million on media and won 29,874 votes as of press time. That comes out to about $49 per vote.

The best value in the race goes to Santorum.

He spent only $21,980 in Iowa and took 29,908 votes in the caucuses, totaling about 73 cents per vote.

The spending totals, compiled by BuzzFeed, do not include money spent by super PACs on the candidates’ behalf.