How much you have to earn to be in the upper, middle or lower classes in the US in 2024
According to data released by the United States Census Bureau, this is what you must earn to belong to the upper, middle or lower classes in the US.
Millions of people in the United States are looking for side hustles to pay for their basic needs, while only a small percentage of the population can afford certain luxuries.
According to a Gallup survey from April 2022, around 73% of Americans say they belong to the middle class, while 14% claim to be in the upper middle class, but how accurate is this self-reporting?
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What class do you belong to, according to your income?
The United States Census Bureau conducted a study that divided households into five groups according to earnings: upper class, upper middle class, middle class, lower middle class, and lower class.
According to the most recent census data, those who earn $153,001 a year or more belong to the upper class in the country, while those who generate income between $94,000 and $153,000 fall into the upper middle class. Various studies show that only two percent of the population belong to the upper class.
Below is a list of the income you must generate to be part of the upper, middle or lower class in the United States, according to the Census Bureau:
- Upper class: $153,001 a year or more
- Upper middle class: From $94,000 to $153,000 dollars per year
- Middle class: From $58,021 to $94,000 dollars per year
- Lower middle class: From $30,001 to $58,020 dollars per year
- Lower class: $30,000 a year or less
Data is based on 2022 figures, which comprise the most recent information available*
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Other aspects to consider in determining economic class
Although income is an important factor when determining which economic class you belong to, experts say that other aspects that are of similar importance must also be considered. These include the education of individuals, the area in which they reside and even their savings capacity.
For example, a person may fall into the “upper middle class” category in Missouri based on this earning table, but this income would not be enough to maintain the same lifestyle in cities like Chicago or New York.