Income needed to be middle class varies widely across US states, study finds
By
Kristine Villarroel
Summary
A recent SmartAsset study analyzed US Census Bureau data to calculate the income range needed to be considered middle class in every US state. The study applies a variation of the Pew Research Center's definition of middle class (households earning between two-thirds and double the national median income). The findings reveal significant geographic variation, with states like Hawaii, Massachusetts, and New York requiring the highest incomes to be middle class, while states like Mississippi, West Virginia, and Arkansas have the lowest thresholds. The article explores the K-shaped economy and the shrinking middle class, examining what it actually means to be middle class in America today.
Source
bskyIncome needed to be middle class varies widely across US states, study findsbusinessinsider.comKey quotes
· 3 pulledThe K-shaped economy has been pulling the wealthy further ahead while leaving many middle- and lower-income households behind.
Being middle class in Mississippi looks very different from being middle class in Hawaii, both in terms of income and cost of living.
The American middle class has been shrinking for decades, but the income threshold to be considered part of it continues to rise.
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