Pennsylvania: Are You Considered ‘Middle-Class’ in the State?
The term, according to Investopedia, is “a socioeconomic category used to describe people and families with incomes that fall into the median range for the geographic area they live in….
The term, according to Investopedia, is "a socioeconomic category used to describe people and families with incomes that fall into the median range for the geographic area they live in. The definition is not precise, but generally, middle-class people in the United States viewed as having sufficient means to live a comfortable lifestyle."
So, what defines the middle-class in the state? A CNBC feature sheds light on that question.
Are You Considered 'Middle-Class' in Pennsylvania? Here Are the Statistics
In a feature for CNBC, Mike Winters states that "the upper bound of what’s considered middle class for households exceeds $100,000 in every U.S. state, according to a SmartAsset analysis of 2023 income data, the most recent available from the U.S. Census Bureau."
Winters adds that, "Even as more households earn six-figure salaries, many middle-class earners are feeling the squeeze. While inflation-adjusted wages have risen since 2022, those gains have been largely offset by increasing costs since the start of the pandemic in 2020."
So, that's for the upper middle-class. But, what about lower middle-class and, well, just the median household income in the state? It actually varies widely per state, which makes sense, because the cost of living in each state is very different. But, as mentioned earlier, to be considered upper middle-class, each state's figure is more than $100,000.
Let's look at Pennsylvania and get into the numbers. According to the SmartAsset research, the low end of middle-class: is $49,211, the high end is $147,648 and the median household income is $73,824. So, those are the numbers and figures that drive comparisons. If you've been wondering about the definition of the term is today, there's your answer.
