A lot is said about the crisis of the middle class or the shrinking of the middle class (people have a lot of opinions on this topic as you can imagine), but who is actually in the middle class?
Per the Pew Research Center, 52% of Americans are in “middle class” households. The think tank defines the middle class as households that are earning two-thirds to double the national median. The median income of the middle class as of 2016 was $78,442.
Let’s take it one step deeper, and look at various household sizes.
The median income of the middle class by by household size:
- Household of one: $26,093 to $78,281
- Household of two: $36,902 to $110,706
- Household of three: $45,195 to $135,586
- Household of four: $52,187 to $156,561
- Household of five: $58,347 to $175,041
The rest of the country of course is made up of the “lower class” and “upper class.” 29% of the country falls into the “lower class” with a median income of $25,624 as of 2016. The median income of upper class households was $187,872.
Not happy with where you fall in this? A few resources that you should check out:
Feature Image: Twenty20