While the household income needed to be considered middle class continues to fluctuate, it remains high in California.
A May study from Go Banking Rates determined the salary needed to be considered middle class in all 50 states using the U.S. Census Bureau’s 2022 American Community Survey
The personal finance website defined middle class as “those with an annual household income that is two-thirds to double the median income.”
In California, the middle-class household income ranges between $ 61,270 to $183,810, a nearly 50% increase from where it stood in 2012 when it was $40,933 to $122,800.
The Golden State had the fourth-highest income increase needed to be considered middle class. Oregon took the top with a 53.2% increase, followed by Washington and Colorado.
On the other hand, Alaska has the lowest percentage change for income needed to be considered middle-class, at 23.53%.
However, Mississippi has the lowest household income requirement.
In the Magnolia State, residents would need to earn $35,323 to $105,970 to be considered middle class.
“Over the last decade, the household income needed to be a part of the middle class has increased significantly. In 2012, a household income of $35,364 qualified you as a member of the middle class in the U.S.; in 2022, $50,099 was the lowest minimum household income threshold,” Go Banking Rates lead writer, Gabrielle Olya, wrote in the report.
The complete study can be found here.