How Do You Know If You’re In The American Middle Class? (2024)

FAQs

How Do You Know If You’re In The American Middle Class? ›

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 Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau.

In a large U.S. city, a middle-class income averages between $52,000 and $155,000. The median household income across all 345 cities is $77,345, making middle-class income limits fall between $51,558 and $154,590.

“The middle class is typically characterized by having a stable income and some level of financial security. They tend to value education, homeownership and health insurance.

What is the average middle class income? In 2024, a large U.S. city's middle-class income averages between $52,000 and $155,000, with the median household income across all 345 cities at $77,345, making middle-class income limits fall between $51,558 and $154,590, SmartAsset noted.

The middle class is generally perceived as those who fall between the socio-economic hierarchy of the working class and upper class. Those that have attained a college degree, are homeowners, able to send their children to college and have discretionary income consider themselves members of the middle class.

According to the OECD, the middle class refers to households with income between 75% and 200% of the median national income.

One common way to classify the upper middle class is based on income. The upper middle class is often defined as the top 15% to 20% of earners. According to the Social Security Administration's 2022 wage data, the average upper-middle-class income was roughly between $80,000 and $100,000.

According to the Census Bureau's Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000. Lower-middle class: $30,001 – $58,020.

There is considerable debate as to how the upper middle class might be defined. According to Max Weber, the upper middle class consists of well-educated professionals with graduate degrees and comfortable incomes. Higher educational attainment in the US corresponds with median household wealth.

What describes a middle class person? ›

In Western cultures, persons in the middle class tend to have a higher proportion of college degrees than those in the working class, have more income available for consumption, and may own property. Those in the middle class often are employed as professionals, managers, and civil servants.

Middle-class values refer to the set of beliefs, attitudes, and behaviors that are associated with the middle class in society. These values often include hard work, education, financial stability, social respectability, and adherence to societal norms.

In California, the middle class income range for 2022 was $61,270 to $183,810. Compare that to the average in 2012, which was $40,933 to $122,800. That's a 10-year change of 49.68%. Those figures pushed California to #4 on the list ranking U.S. states where the middle class income has increased.

By the Census data, it means that if you earn between $50,000 and $150,000 a year, you are considered middle class. It's a pretty straightforward answer, but it isn't particularly helpful if you're trying to climb up out of a lower income bracket into the middle class.

If you earn this much, you're in the middle class

According to the Census data, here's how household income breaks down in the United States: Households in the lowest quintile: $30,000 or less. Households in the second quintile: $30,001 to $58,020. Households in the third quintile: $58,021 to $94,000.

In 2020, according to Pew Research Center analysis, the median for upper income households was around $220,000 and the median for middle income households was slightly above $90,000.

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.

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year.