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The concept of the “upper middle class” often evokes images of financial stability, comfortable living, and access to a range of opportunities. But what does it actually mean in terms of income? In 2024, the definition of upper middle class varies significantly depending on where you live. To gain a clear picture, we explore the median household income required to be considered upper middle class across different states in the U.S.
Defining Upper Middle Class
For this analysis, the upper middle class is defined as the top 20% of earners within the middle-class income range. According to the Pew Research Center, middle-class households are those earning between two-thirds to double the median household income in a given area. Consequently, the income threshold to be classified as upper middle class differs from state to state, reflecting the diverse economic landscapes across the country.
Income Thresholds by State
Here is a breakdown of the median household income required to be considered upper middle class in 2024 for each state:
- Alabama: $103,322
- Alaska: $149,708
- Arizona: $125,807
- Arkansas: $97,647
- California: $159,302
- Colorado: $151,837
- Connecticut: $156,369
- Delaware: $137,497
- Florida: $117,723
- Georgia: $123,682
- Hawaii: $164,344
- Idaho: $121,704
- Illinois: $135,951
- Indiana: $116,433
- Iowa: $122,323
- Kansas: $120,895
- Kentucky: $104,317
- Louisiana: $100,277
- Maine: $118,302
- Maryland: $170,666
- Massachusetts: $167,275
- Michigan: $118,742
- Minnesota: $146,143
- Mississippi: $91,841
- Missouri: $114,261
- Montana: $114,991
- Nebraska: $124,318
- Nevada: $124,186
- New Hampshire: $157,465
- New Jersey: $168,352
- New Mexico: $101,785
- New York: $141,069
- North Carolina: $114,722
- North Dakota: $128,196
- Ohio: $116,116
- Oklahoma: $106,364
- Oregon: $132,829
- Pennsylvania: $126,828
- Rhode Island: $141,041
- South Carolina: $110,280
- South Dakota: $120,392
- Tennessee: $110,994
- Texas: $126,594
- Utah: $150,511
- Vermont: $128,291
- Virginia: $151,232
- Washington: $156,563
- West Virginia: $95,709
- Wisconsin: $125,594
- Wyoming: $124,295
Key Observations
- High Cost of Living States: States with a high cost of living, such as California, Hawaii, and New York, unsurprisingly have higher income thresholds for the upper middle class. For instance, in California, you need to earn at least $159,302 to be considered upper middle class, reflecting the state’s expensive housing market and overall living costs.
- More Affordable States: In contrast, states like Mississippi and Arkansas have much lower thresholds. In Mississippi, an income of $91,841 places you in the upper middle class. These states typically have lower housing costs and overall expenses, making the upper middle class more accessible.
- Regional Variations: The income required to be upper middle class varies significantly even within regions. For example, in the Midwest, states like Minnesota and Illinois have higher thresholds compared to states like Iowa and Indiana. This variation underscores the importance of local economic conditions and cost of living factors.
Conclusion
Understanding what it takes to be upper middle class in 2024 involves more than just looking at a national average. It requires considering the economic conditions of each state. Whether you are planning to move or just curious about your financial standing, knowing these income thresholds can provide valuable insight into your economic status. By recognizing these differences, you can better plan your financial future and strive for a lifestyle that aligns with your aspirations.
Editor’s note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates’ editorial team.
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