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Thus to step over the national middle class threshold of 48 500 a household in jackson needs an income of only about 39 300 or 19 0 less than the national standard.
Yearly income for middle class. Former secretary of labor robert reich suggests that the middle class should be defined as households making between 50 below and 50 above the median. Defining who is middle class is an ongoing question in the united states. There are some economists who say that anyone who makes between 25 000 and 100 000 a year is middle class. The answer typically depends on income however some people feel that other factors contribute to the definition.
For a traditional middle class lifestyle which takes into account two spouses and a child ability to finance their child s education home and car ownership and retirement savings this would require 123 388 per year after income tax. An annual inhand income of 4 8 lacs. They manage to save some money for retirement. 57 772 76 to 172 456 4 person family middle class income range.
In 2018 the national middle income range was about 48 500 to 145 500 annually for a household of three lower income households had incomes less than 48 500 and upper income households had incomes greater than 145 500 incomes in 2018 dollars. The median income of the middle class as of 2016 was 78 442. Some people see themselves as middle class because they own their homes or. 2 person family middle class income range.
That might be surprising to some though. In 2010 the census bureau reports. 51 695 19 to 154 314 3 person family middle class income range. Others take a look at the median annual income and then go 20 000 to either side.
The average yearly income for a middle class family. Let s take it one step deeper and look at various household sizes. The median income of the middle class by by household size. Everyone else the middle 60 is middle class.
Other definitions of middle class income. Only savings are 80c ie 1 5 lacs for tax exemptions. The think tank defines the middle class as households that are earning two thirds to double the national median. Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings.
A family of 4 which can rent a 2 bedroom apartment in a average area of city. But a household in the san francisco area needs a reported income of about 63 800 or 31 6 more than the u s. Buy and maintain a.
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