Those earning six figure salaries were once considered rich. Currently, households making nearly $200,000 a year are not considered upper class in parts of the United States
- Six figure salaries were once considered wealthy-But now, most of these earners struggle to float amidst intense living expenses and pay deflation. This is because households making $100,000 a year are still considered “middle class” in all America, according to a recent analysis of data from the 2023 US Census Bureau.
It changed how much money you need to make to “get involved.” Earning nearly $200,000 a year is not considered upper class in some US states. Being considered rich is more gated between 1% I’ll collect them Millions of people every day.
According to Recent SmartAsset Analysis Of the 2023 US Census Bureau data, households making $199,000 a year in Massachusetts and New Jersey are still considered middle class.
Even in Mississippi, the lowest central median in the United States, households need to earn more than $108,000 to be considered wealthy.
The salary range for middle-class homes, which account for around 52% of American workers, is of course huge. The lowest salary that could be considered in the socioeconomic class is $36,132 in one state, and the highest hits an astounding $199,716 in another state. However, in all US states, a $100,000 salary is not enough to be considered upper class. Families with six figure incomes struggle to get it.
Why what was considered middle class has changed
Six-figure salary used to suck pictures of luxury cars, pretty house homes, pretty savings accounts. But now it’s barely enough for most people to survive.
According to 2023, in 2022, I spent more than $100,000 a year on salary, pay, pay, pay, pay. Report From Pymnts and LendingClub.
There are several reasons why more six figure earners struggle to maintain their heads above the water. The SmartAsset report refers to severe inflation and wage changes across the United States, with some workers experiencing wage deflation. Employees who remained in their current roles received a 4.6% wage increase in January and February, while those who switched jobs received only a slightly higher increase of 4.8%. Recent data From the Atlanta Fed. This has ruined the prospect of switching companies and making more money in the same role.
Inflation is increasing the cost of living across the board, based on egg prices shooting Over 60% of last year’s housing market I was paralyzed The rising costs. It is assumed that middle class lifestyles can at least keep up with basics, but according to 2024, 65% of these households say their income is lagging behind the cost of living. Investigation from Financial Services Company Primaryism.
The American dream of a white picket fence and Stockridge cannot be achieved by simply putting on a six-figure salary. US households can reach the upper classes of states in states with lower wage thresholds, but high-paying employment opportunities in these regions may be scarce. And overall, the average middle-class household in every state is still not making $100,000.
Does your household have a hard time earning six figures? Fortune wants to hear from you. Reach out: emma.burleigh@fortune.com
Here are the amounts you need to listen more to in order to escape the middle class of all US states:
The United States is ordered from the lowest to the lowest household income bound by the highest upper-restricted top-required to maintain middle-class status.
- Massachusetts: $199,716
- New Jersey: $199,562
- Maryland: $197,356
- New Hampshire: $193,676
- California: $191,042
- Hawaii: $190,644
- Washington:$189,210
- Yuta: $186,842
- Colorado:$185,822
- Connecticut: $183,330
- Virginia:$179,862
- under:$173,262
- Minnesota:$170,172
- Rhode Island:$169,944
- new york: $164,190
- Delaware:$162,722
- Vermont:$162,422
- Illinois: $160,612
- Oregon: $160,320
- Arizona: $154,630
- North Dakota: $153,050
- Nevada:$152,728
- Texas: $151,560
- Idaho:$149,884
- Georgia:$149,264
- Wisconsin:$149,262
- Nebraska:$149,180
- Pennsylvania: $147,648
- main:$147,466
- Florida:$146,622
- Wyoming: $144,830
- South Dakota: $143,620
- Iowa:$142,866
- Montana: $141,608
- North Carolina: $141,608
- Kansas: $140,666
- Indiana:$138,954
- Michigan:$138,366
- Missouri $137,090
- South Carolina: $135,608
- Ohio: $135,538
- Tennessee:$135,262
- New Mexico: $124,536
- Alabama:$124,424
- Oklahora: $124,276
- Kentucky: $122,236
- Arkansa: $117,400
- Louisiana: $116,458
- West Virginia:$111,896
- Mississippi: $108,406
This story was originally introduced Fortune.com