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That might be surprising to some though.
Yearly income of middle class. The median income of the middle class as of 2016 was 78 442. In 2010 the census bureau reports. This would put the middle class in the 34 352 to 103 055 income range based on the census median income of 68 703. An annual inhand income of 4 8 lacs.
Based on pew research center data for the 2017 fiscal year within the center s parameters an income range of 41 000 and 132 000 is considered to be middle class. Let s take it one step deeper and look at various household sizes. The think tank defines the middle class as households that are earning two thirds to double the national median. Former secretary of labor robert reich suggests that the middle class should be defined as households making between 50 below and 50 above the median.
Others take a look at the median annual income and then go 20 000 to either side. 57 772 76 to 172 456 4 person family middle class income range. According to the pew research center middle class incomes in 2010 ranged from 35 924 to 105 881. Everyone else the middle 60 is middle class.
Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings. 2 person family middle class income range. Other definitions of middle class income. This income range encompasses about half of all american households although the definition of middle class varies by geographic region due to differences in cost of living.
There are some economists who say that anyone who makes between 25 000 and 100 000 a year is middle class. Thus to step over the national middle class threshold of 48 500 a household in jackson needs an income of only about 39 300 or 19 0 less than the national standard. But a household in the san francisco area needs a reported income of about 63 800 or 31 6 more than the u s. The median income of the middle class by by household size.
In 2018 the national middle income range was about 48 500 to 145 500 annually for a household of three lower income households had incomes less than 48 500 and upper income households had incomes greater than 145 500 incomes in 2018 dollars. They manage to save some money for retirement. Only savings are 80c ie 1 5 lacs for tax exemptions. Buy and maintain a.
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