What Does it Take to Be Middle Class in the US These Days?

Spread the Word

by Gabrielle Olya Edited by Gary Dudak via gobankingrates

Over the last decade, the household income needed to be a part of the middle class has increased significantly. In 2012, a household income of $35,364 qualified you as a member of the middle class in the U.S.; in 2022, $50,099 was the lowest minimum household income threshold.

It also takes a lot more to reach the next level of wealth. In 2012, the highest household income considered to be middle class was $106,092, but as of 2022, that high end of the middle-class household income spectrum had reached $150,298. Overall, the household income required to be considered middle class in the U.S. has increased by 41.67% during that time frame.

However, the shifts in middle-class household income requirements have not been the same in every state. In some states, the household income range of the middle class hasn’t increased quite as much as the national average. On the other hand, it’s shot up by as much as 53.15% in one state.

To find the household income needed to be middle class in each state, GOBankingrates defined “middle class” as those with an annual household income that is two-thirds to double the median income.

Here’s a look at how much the definition of middle class has changed in every state from 2012 to 2022. States are ranked by largest to smallest percentage change.

Key Findings

  • Mississippi has the lowest household income needed to be middle class. As of 2022, a $35,323 salary is considered middle class in the state.
  • Maryland has the highest household income needed to be middle class. As of 2022, $65,641 is the lowest household income that qualifies you to be considered middle class in the state.
  • The definition of the middle class has changed the least in Alaska. The household income needed to be middle class in Alaska has increased by just 23.53% from 2012 to 2022.
  • In Oregon, the household income needed to be middle class has increased by 53.15% from 2012 to 2022 — the biggest increase of any state.

Read more here https://www.gobankingrates.com

139300cookie-checkWhat Does it Take to Be Middle Class in the US These Days?Share this page to Telegram
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments