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What Is the Middle Class? The middle class is a socio-economic category used to describe people and families with incomes that fall into the median range for the geographic area they live in.
Common definitions for the middle class range from the middle fifth of individuals on a nation's income ladder, to everyone but the poorest and wealthiest 20%. [3] Theories like "Paradox of Interest" use decile groups and wealth distribution data to determine the size and wealth share of the middle class.
Middle-income households – those with an income that is two-thirds to double the U.S. median household income – had incomes ranging from about $56,600 to $169,800 in 2022. Lower-income households had incomes less than $56,600, and upper-income households had incomes greater than $169,800.
What is the middle class? It depends on a variety of factors, from income and education to homeownership and retirement. Find out where you fit here.
A broader and commonly used definition of the middle class includes the middle three quintiles, encompassing 60 percent of all households. In this case, middle-class incomes range from...
MIDDLE CLASS definition: 1. a social group that consists of well-educated people, such as doctors, lawyers, and teachers…. Learn more.
New York University Professor Edward Wolff, for instance, defines middle class as the middle three-fifths of the wealth spectrum. Those below that threshold are in debt and those above are...
The terms middle class and middle income are used interchangeably in this report. White, Black, Asian, American Indian or Alaska Native, and Native Hawaiian or Pacific Islander include people who identified with a single major racial group and who are not Hispanic.
There are many different ways to define the middle class. Pew Research Center defines it as households that earn two-thirds to two times more annual income than the national average. Middle-class status isn’t based on income alone. It also depends on your household size, location, and other factors.
: a social class that occupies a position between the upper class and the lower class and is composed mainly of business and professional people, government officials, farmers, and skilled workers