How Americans define a middle-class lifestyle — and why they can’t reach it (2024)

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How Americans define a middle-class lifestyle — and why they can’t reach it? ›

“The idea that you can have a secure job with predictable wages, with health care and retirement, and being able to pay for your housing - those things are all part of a mid-century vision of the middle-class life trajectory,” said Zaloom, the anthropologist.

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.

Middle class families tend to own their own home (although with a mortgage), own a car (although with a loan or lease), send their kids to college (although with student loans or scholarships), are saving for retirement, and have enough disposable savings to afford certain luxuries like dining out and vacations.

The middle class is being affected by a variety of factors including inflation, the aging population and remote work, report shows. The middle class is shrinking as a result of several factors including surging inflation, an aging population, and the rise of remote work, according to a new report from ConsumerAffairs.

The upper middle class often gets to enjoy more vacations, has minimal to no debt, and is on track to retire — and live comfortably once retired — without issue. “Middle class typically involves stable income and some savings, with incomes between $50,000 and $125,000, according to the U.S. Census Bureau.

The middle class includes: professionals, managers, and senior civil servants. The chief defining characteristic of membership in the middle-class is control of significant human capital while still being under the dominion of the elite upper class, who control much of the financial and legal capital in the world.

Middle class: Those in the 40th to 60th percentile of household income, ranging from $55,001 to $89,744. Upper middle class: Households in the 60th to 80th percentile, with incomes between $89,745 and $149,131. Upper class: The top 20% of earners, with household incomes of $149,132 or more.

There is no official financial standard for what constitutes middle class. For most it's more about a standard of living—including owning a home, being able to afford to pay for a college education for your kids, and having enough disposable income to take a family vacation.

The middle class lifestyle refers to the social and economic characteristics and behaviors of individuals or families who are considered to be part of the middle class. It includes aspects such as stable employment, homeownership, access to education and healthcare, and a comfortable standard of living.

A strong middle class helps ensure that government works well, fostering favorable conditions for the economy to prosper.

What happened to America's middle class? ›

The total population of the middle class in the U.S. has remained fairly stable since 2011 but has decreased substantially since 1971. Between 1970 and 2020, the share of aggregate income held by the upper class has increased while it has decreased for the middle class.

You also need an annual household salary of at least $50,000 to be considered middle class in 17 other states, including California, New York, Oregon, Washington, Utah and Hawaii. In California, the difference is $122,000, from a salary of $61,028 on the lower end to $183,102 on the upper end.

Meaning of middle class in English. a social group that consists of well-educated people, such as doctors, lawyers, and teachers, who have good jobs and are not poor, but are not very rich: The upper middle class tend to go into business or the professions, becoming, for example, lawyers, doctors, or accountants.

One commonly used definition from the Pew Research Center sets a middle-class income between two-thirds and twice the national median income, or $67,819 to $203,458 for a family of four in 2022. Most Americans consider the lower end of that range, $75,000 and $100,000, to be middle class, according to the Post poll.

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.

60% of those millionaires identify as upper middle class, while 31% interestingly identify themselves as just middle class. Surprisingly, a large number of millionaires reside comfortably in the middle class, revealing an oddly curious disconnect between their sense of self and their financial security.

To be upper class in states with the 10 highest median incomes, households must make above $178,300 — and must make above $202,000 in Washington, DC. Mississippi had the lowest income needed to be upper class, at $105,400, while West Virginia's figure was $108,600.

The upper class has an average net worth of $793,120 to $2.65 million, while the lower class has $16,900. The middle class ranges from $58,550 to $300,800. You can grow your net worth by saving and investing consistently, investing in the stock market, and being careful about taking on debt.

On the other hand, Mississippi, West Virginia and Arkansas have the lowest income needed to be a part of the middle class. To fall into the category in those three states, your household income should be between $35,000 and $37,000.

Middle Income Countries At-A-Glance

The world's Middle Income Countries (MICs), which are defined as having a per capita gross national income of $1,086 to $13,205 (2022) are a diverse group by size, population, and income level. Overview.