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According to northwestern mutual s 2018 planning and progress study 68 of americans identify themselves as.
Income to be middle class. The median income of the middle class by by household size. Add to this that how americans view middle class in terms of income varies widely. The median income of the middle class as of 2016 was 78 442. From state to state the cost of living varies significantly.
These figures were released on sept. Adjusting for the cost of living the bottom threshold of the middle class in one state is as low as 15 165 and as high as 41 532 in another. Different income barometers describe the middle class as having income. At the other end of the spectrum the upper range of.
57 772 76 to 172 456 4 person family middle class income range. The think tank defines the middle class as households that are earning two thirds to double the national median. The middle income range is 75 per cent to 150 per cent of the median income. This would make the middle class income range 24 488 to 48 977.
Census bureau reports mean and median incomes for the previous calendar year every september. Regional disparities in income and the cost of living mean that salary based measures of the middle class can vary greatly. Using 68 703 as the base the pew definition of middle class income would include households earning between 45 802 and 137 406. Let s take it one step deeper and look at various household sizes.
The rpp adjusted boundaries were defined as the range of income that could be considered middle class in a given state. The 2008 census reported the medium income as 32 651. 51 695 19 to 154 314 3 person family middle class income range. For a traditional middle class lifestyle which takes into account two spouses and a child ability to finance their child s education home and car ownership and retirement savings this would require 123 388 per year after income tax.
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