More than 22% of Americans don’t earn enough to be middle class: Do you?
(NEXSTAR) — Amid rising costs and economic uncertainty, it can be difficult to tell whether your paycheck is still putting you in the middle class. New data shows just how much a household needs to earn to be within that threshold — and how many aren’t earning enough.
The definition of “middle class” can vary, but many use Pew Research’s: two-thirds to double the median household income within a certain area. Nationally, personal finance site SmartAsset recently found that range to be roughly $49,500 and $148,500 in household income. That’s up from $49,271 to $147,828 last year.
At that threshold, however, more than 30% of Americans may not earn enough to be considered middle class.
An estimated 32% of American households have an income at or below $49,999, according to the 2023 American Community Survey, the most recently available data set from the U.S. Census Bureau. About 22% of American households earn $34,999 or less.
Meanwhile,........
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