Yes, but first you have to adjust for cost of living and its impact on teacher salary, land/building costs, etc. Everything in DC is more expensive than in Idaho. Then, how much of that money is actually going toward the day-to-day education of students? In a large school system like DC I would wager that so much of the money is going toward administration, legal representation, transportation, infrastructure, etc. Does that dollars per student amount include federal expenditures on free and reduced lunch programs? That expense would also likely be higher in areas of urban poverty, and while those programs are absolutely necessary, they are not dollars for classroom instruction and should not be compared directly to districts whose dollars can go to instruction instead of basic services. (Does that make sense? $1000 of school lunch is not the same as $1000 of field trips). What about areas with lots of charter schools? Those are certainly more expensive to operate than a traditional public school in light of payments to educational management corporations, and they abound in major cities, unlike rural or suburban areas.
This is way more complex than dollars should equal results.