What You Have to Make to Be ‘Middle Class’ in New Hampshire, Maine, and Massachusetts
Editor's note: This article was written by a Townsquare Media Northern New England contributor and may contain the individual's views, opinions or personal experiences.
Are you middle class, or do you consider yourself middle class? The term 'middle class' conjures up what most of us probably think the bulk of America is classified as.
According to Rand, 89% of us in America place ourselves in this middle class category. However, only around half of us truly are.
With so many variables involved in the cost of living and average incomes varying from state to state, defining 'middle-class' isn't a single, standard, simple one-size-fits-all. It not only matters where you live, but how you spend your money and how many people are in your household.
U.S. News and World Report says that The Pew Research Center defines middle class as those of us with an annual household income two-thirds to double the national median. And according to Zippia, the weekly median wage in the U.S. is $990, or $47,520 per year.
Don't worry, you don't have to break this down, because Go Banking did it for us in each and every state. Phew, and thank you. So here we go with New Hampshire, Maine, and Massachusetts. By the way, I rounded out the numbers.
The middle class is defined as making around $54,000 to $161,000 if you have just two people in your household, $67,000 to $200,000 for a family of three, and $81,000 to $242,000 for a family of four.
The middle class is defined as making around $44,000 to $131,000 for a two-person household, $53,000 to $159,000 if you have three people in your home, and for a four-person household, it's $63,000 to $187,000.
The middle class is defined as making around $57,000 to $170,000 for two people, three people in your home means $71,000 to $213,000, and a four-person household is $88,000 to $263,000.
Where do you stand?