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Whats Considered Upper Middle Class for Households?
Based on the Pew Research Centers definition, middle-class household income ranges from approximately $49,715 to $149,160.
To summarize:
Which Major Factors Determine Whether Your Household Falls Into the Upper Middle-Class Income Range?
For example, in Mississippi, the median household income for being considered upper middle class is $91,841.
In California, that number rises to $159,302.
Size of Household
The Pew Research Center figures are adjusted for a three-person household.
Having a different number of people living in your household will affect the way you perceive your living standard.
How Might the Definition of Upper Middle Class Change by the End of 2024?
Theexpected annual inflation ratethis year has risen to 2.6%.
Households will continue to face high inflation rates and rising costs ofgoods and servicesin 2024.
As a result, the range of income that defines the upper middle class could shift upwards.
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