![]() Share of income held by “middle class”: 45.6% (9th lowest).Median family income: $62,387 (4th lowest).Income needed to be considered middle class: $22,944 – $111,253.Cost of living in Arizona: 3.7% less expensive than U.S.Share of income held by “middle class”: 46.8% (24th highest).Median family income: $74,468 (17th lowest).Income needed to be considered middle class: $26,086 – $126,489.Cost of living in Alaska: 5.1% more expensive than U.S.Share of income held by wealthiest 5% of households: 19.7% (the lowest).Share of income held by “middle class”: 48.7% (4th highest).Median family income: $91,971 (11th highest). ![]() Income needed to be considered middle class: $28,469 – $138,048.Cost of living in Alabama: 14.2% less expensive than U.S.Share of income held by wealthiest 5% of households: 21.8% (23rd lowest).Share of income held by “middle class”: 46.5% (22nd lowest).Median family income: $66,171 (6th lowest).Income needed to be considered middle class: $23,242 – $112,697.Census Bureau’s 2019 American Community Survey. Data on median family income, the share of income held by the middle class, and the share of income held by the wealthiest 5% of households came from U.S. The RPP-adjusted boundaries were defined as the range of income that could be considered middle class in a given state. ![]() as a whole were adjusted for state-level cost of living using regional price parity (RPP) data for 2019 from the Bureau of Economic Analysis. The lower and upper boundaries of the three middle income quintiles for the U.S. To determine the income it takes for a family to be considered middle class in every state, 24/7 Wall St. The South and the West each experienced a 2.3% drop. The Midwest was hit the hardest, with a 3.2% decline from 2020, while median incomes in the Northeast were not significantly impacted. This year-over-year decline affected various regions of the U.S. remains nearly 4.4 million jobs shy of full recovery. More than 9.4 million jobs were lost last year, and as of September 2021, the U.S. Last year’s decline in median household incomes came thanks to the pandemic, which decimated jobs in the retail and hospitality industries. (These, though, are cities where the middle class can no longer afford housing.) ![]() Unlike average income, the median income number captures the true “middle.” The government has no official definition of what constitutes a middle-class income, but a common measure (established by Pew Research Center) considers a household to be “middle class” if its income resides anywhere between two-thirds and twice the median household income, depending on factors like size of household and local costs of living. Census Bureau reported that this was the first “statistically significant” drop since 2011. national median household income fell by 2.9% compared to the previous year, from $69,560 to $67,521. households saw a drop in earnings, based on recently released official statistics. Median household income numbers offer a good measure of how American families are faring economically - and for the first time in years, many U.S. Watch Video: COVID-19 and the wealth gap: How the pandemic has increased wealth disparities
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