![]() ![]() Middle class calculatorįinally, if you want to check out whether you qualify as middle class in your hometown, Pew’s income calculator will let you drill down by metropolitan area. Keep in mind the this is based on 2016 income, but since inflation has been modest in recent years the exact number probably won’t have changed much. So, for example, in an area where livings cost are lower, you’ll need a lower income to enter the middle class. The amounts vary because Pew adjusts the data to reflect the cost of living around the country. In the table below, you’ll find the minimum and maximum incomes for middle class households by size of your family, from a singer person to a family of four. You also may wonder how much you have to earn to qualify as middle class in the first place. Of course, the median income tells you only so much. Plus, the top group has seen bigger income gains, widening the income gap. But over time the middle class has been shrinking: In 1971, 61% of adults lived in middle-class households.Īnd during that time both upper and lower-income segments of the population have been growing at the expense of the middle class. That roughly half of American households fall into the middle class is similar to what Pew found in 2011, the last time they did this analysis. In Laredo, Texas, on the other hand, only 39% percent of residents qualify. In Sheboygan, Wisc., the middle class makes up about 65% of the population. The American middle class is as wide and varied as each of the states themselves.So where do all these middle-class folks live? Pew drilled down by community as well, and found that the 10 highest concentrations of middle-class Americans reside in the Midwest and Northeast. It evokes images of a different lifestyle, culture, and experience. Most people consider themselves middle class but being “middle class” tends to mean something different to each and every person. Looking at the data, you may be surprised to learn where you fit into the socioeconomic hierarchy of your state-and how that compares to the rest of the country. Education plays a big role in determining your earning potential those without high school diplomas had a median annual income of $30,378 whereas those with bachelor’s degrees or higher earned $115,456. ![]() Comparatively, those aged 25-34 who are still in the beginning stages of their careers earn a median of $74,862. People aged 45-54 are the highest earnings, with a median income of $97,089.There’s a stark racial income gap, with black households earning a median of $48,297 annually compared to $74,262 for white households and $101,418 for Asian households.In family households with only one spouse present, male householders out-earned female householders by $19,357.In 2021, the estimated median income for all households was $70,784.Below, we’ll go through some of the most illuminating findings, but you can view the full dataset here. The results lay bare the gender, racial, age, and education wage gaps that continue to impact people nationwide. This data from the US Census Bureau looks at the estimated 2021 median incomes for households from various backgrounds. Demographics like household makeup, race, age, and education can also impact middle-class income. Location isn’t the only factor that plays a role in median household income. Wyoming: $65,304 How demographics impact median income Take a closer look at the median incomes from 2016 to 2020 for each state below. When you look at each state individually, however, the medians vary widely, ranging from $46,511 (Mississippi) to $87,063 (Maryland). Between 20, the nationwide median income was $64,994. The US Census Bureau can provide us with valuable insight into the median household income. To find out who still has a middle-class income, we can look at the median wages around the country. But though this group may be shrinking, a large number of people still qualify as middle class. The latest report from 2021 shows that just half the population is considered middle class-down from 54% in 2001, 59% in 1981, and 61% in 1971. And this isn’t a new trend according to research from the Pew Research Center, the middle class has been shrinking for decades. With stagnant wages, rising inflation, and nearly two-thirds of Americans living paycheck to paycheck, more families are struggling to gain their financial footing. As you’ve likely heard time and again, the middle class is shrinking.
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