The salary you need to be considered middle class in every U.S. state—it's close to $200,000 in 2 of them (2024)

FAQs

The salary you need to be considered middle class in every U.S. state—it's close to $200,000 in 2 of them? ›

In two states — Maryland and New Jersey — the high end of the middle-class income range edges close to $200,000. In Maryland, you're considered middle class if your income falls between $65,641 and $196,922, according to GOBankingRates. In New Jersey, a middle-class income ranges from $64,751 to $194,252.

In California, the middle-class household income ranges between $ 61,270 to $183,810, a nearly 50% increase from where it stood in 2012 when it was $40,933 to $122,800.

For 2024, the upper middle class in the U.S. generally includes households with incomes ranging from $150,000 to $250,000. However, this range can vary based on location, family size and economic conditions.

- More visitors at food pantries -

In Allentown, residents are considered middle class if their households earn between $37,300 and $112,000 a year. Even then, some have had to turn to food pantries.

Upper-middle class: $94,001 – $153,000. Upper class: greater than $153,000.

Despite their differences, both areas require households to make $61,000 to earn the middle-class distinction, with a maximum income of $183,000.

Lower class: This is defined as the bottom 20% of earners. Those in the lower class have an income at or below $28,007. Lower middle class: This is defined as individuals in the 20th to 40th percentile of household income. Earnings among this group are between $28,008 and $55,000.

Middle Class (Middle 20%): The median net worth is $104,700. This includes individuals in their forties who have paid off some debt and accrued home equity.

A 2022 study by the Economic Policy Institute (EPI) found that the top 10% of earners nationally received an average income of $167,639 in 2021. However, there is a difference between those in the top half and the bottom half of the top 10% of earners.

Is $150000 a year middle class? ›

Based on that number, if you earn between $50,000 and $150,000 a year, you qualify as middle class. Around half of Americans fall into the middle-class category as of 2021, according to the Pew Research Center, but the numbers have been shrinking over time, down from 61% in 1971.

The Big Picture

The average American earns approximately $1.7 million over their lifetime. This figure is derived from the median American salary, which hovers around $50,000 annually.

In Florida, according to ConsumerAffairs, a family of four needs to make $67,835 a year to be considered middle-class.

According to IRS standards, a monthly income of approximately $45,000 qualifies someone as wealthy. However, if you're aiming for the top 1% as measured by the Economic Policy Institute (EPI), you'd need to earn about $68,277 monthly.

With New Jersey ranking as the top state to make the most money to be considered middle class, other states ranking in the top five requiring salaries exceeding $50,000 to be in this category include Maryland ($63,321) and Massachusetts ($62,986), Hawaii ($61,633) and California ($61,028).

As of 2022 (the most recent Census data), the average median household income in the U.S. was $73,914, meaning the national range for the middle class is roughly $49,271 to $147,828. Across the nation's largest cities, the range is between $51,558 and $154,590, according to SmartAsset.

The middle class is a socio-economic strata that falls in between the working class and the upper class. Those in the middle class have enough disposable income to afford minor luxuries like vacations or restaurants but also rely on borrowing for big-ticket items like homes and cars.