It’s safe to say that most Americans have heard the phrase “the middle class is disappearing” at least once in their lifetime.
As the richest class gets richer, and more households fall below the poverty line, many are noticing a shift.
But how different is the modern day middle class?
Changing middle class analysis
The Pew Research Center says more than 60% of U.S. households were considered middle class in the ‘70s. That fell to 50% in 2021.
In the ‘70s, the median middle class income was about $59,900, by 2020 it rose to $90,100.
Using data from the U.S. Census Bureau, GOBankingRates analyzed the income boundaries for the middle class in each state, based on data for 2022 — the most recently available complete data.