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Working class as well as working poor households may fall below the poverty line if an income earner becomes unemployed. [ 1 ] [ 4 ] In any given year roughly one out of every five (20%) households falls below the poverty line at some point while up to 40% may fall into poverty within the course of a decade.
When it comes to food, the average American household spends 12.4% of its income, while households earning less than $15,000 spend 16.7% and those earning between $15,000 and $30,000 spend 14.1%.
The New York Times has used income quintiles to define class. It has assigned the quintiles from lowest to highest as lower class, lower middle class, middle class, upper middle class, and upper class. [24] These definitions equate class with income, permitting people to move from class to class as their income changes.
The data below is for annual median household income in the 50 states, the District of Columbia, and Puerto Rico — the data is based on 2013–2017 American Community Survey data from the U.S. Census Bureau; populations are also from the 2013–2017 American Community Survey.
The upper middle class consists of those in the 60th to 80th percentile of household income. The median net worth is nearly double that of the middle class. Average net worth for the upper class
According to the Census Bureau’s Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level ...
In the Monterey area, where the low-pay industry of agriculture is the largest sector in the economy and the majority of the population lacks a college education, the median home price was $723,790, requiring an upper middle class income only earned by roughly 20% of all households in the county.
Based on Pew’s calculator, middle class earners are actually those whose income falls between $52,200 and $156,600, or two-thirds to double the national median when adjusted for local cost of ...