In the United States, the term middle class if often heard in the media, among politicians, economists, and others. Question: What income category is considered middle class? Read more
With a peak net worth of approximately US$418 billion in 2019 dollars, American oil magnate John D. Rockefeller is the richest person in American history, and the richest person in the post-Industrial Revolution era. Check out the list of wealthiest historical figures
With a peak net worth of approximately US$418 billion in 2019 dollars, American oil magnate John D. Rockefeller is the richest person in American history, and the richest person in the post-Industrial Revolution era. Check out the list of wealthiest historical figures
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The American middle class has been shrinking over the past few decades, with just over half of U.S. adults considered middle class by the Pew Research Center in 2020, compared to 61% in 1971. Pew defines “middle class” as a person earning between two-thirds and twice the median American household inRead more
The American middle class has been shrinking over the past few decades, with just over half of U.S. adults considered middle class by the Pew Research Center in 2020, compared to 61% in 1971.
Pew defines “middle class” as a person earning between two-thirds and twice the median American household income, which in 2019 was $68,703, according to the United States Census Bureau. That puts the base salary to be in the middle class just shy of $46,000. The Brookings Institute, meanwhile, considers anyone who falls within the middle three quintiles of income distribution to be middle class.
But income isn’t the only factor that is taken into account. The size of your household and where in the country you live also come into play with both Pew and Brookings when determining your economic tier.
To show where you fall economically, Grow created a calculator that takes salary, household size and financial data from nearby metropolitan areas into account to determine if you are middle class, according to three different definitions.
Are you part of the middle class? Use this calculator to find out
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