How much income is considered middle class in the United States?

The “middle class” is a very important demographic in the United States, not only is it the most frequently discussed social group in the political context, but it is also widely seen as a symbol of American culture and the primary economic driver. So just how much income can be considered middle class?

In fact, there is no consensus on the definition of the middle class in the United States. The Pew Research Center defines the middle class as “households with incomes between two-thirds and twice the national median”.

For a family of three, this range is $40,100 to $120,400 in 2018. Some studies also define the middle class as households with annual incomes between $13,000 and $230,000. Additionally, the definition of the middle class varies by state, as the cost of living varies from state to state.

Financial media outlet 24/7 Wall St. recently calculated the middle class income range for each state based on a broad definition of the middle class, using data from the U.S. Census Bureau and adjusting the data for the cost of living in each state.

According to 24/7 Wall St., the lower limit of annual household income for the middle class is lowest in Mississippi at $15,165 and highest in Hawaii at $41,532. If we go by the median annual income of middle class households, the lowest is still Mississippi at $58,503, while the highest is Massachusetts at $108,348. Among all states, the wealthiest 5% in New York State have the highest percentage of wealth at 25.8%, while the middle class has the lowest percentage of wealth at 43.1%.

However, these figures do not cover the impact of the new crown epidemic. Analysts point out that the new crown epidemic will have an impact on income distribution, especially affecting low- and middle-income households.

A Gallup 2020 poll showed that 72 percent of Americans consider themselves to be in the middle or working class. And they will consider factors such as education level, place of residence, and family history in addition to income when determining their class status.