People making six-figure salaries used to be considered rich—now households earning nearly $200,000 a year aren’t even considered upper-class in some U.S. states ...Middle East

How much money you need to make to be “rolling in it” has changed: Earning nearly $200,000 a year isn't even considered upper-class in some U.S. states. Being considered rich is becoming more gate-kept among the 1% raking in millions every day. 

According to a recent SmartAsset analysis of 2023 U.S. Census Bureau data, a household making $199,000 a year in Massachusetts and New Jersey would still be considered middle-class.

Even in Mississippi, which has the lowest median middle-class income in the U.S., households would need to earn over $108,000 to be considered well-off.

The salary range of middle-class homes, representing about 52% of American workers, is of course huge. The lowest salary considered to be in the socioeconomic class is $36,132 in one state, while the highest hits a staggering $199,716 in another. But in every single state in America, a $100,000 salary is no longer enough to be considered upper-class—and families with six-figure incomes are even struggling to get by. 

Why what’s considered middle-class has changed

A six-figure salary used to rouse images of a high-class lifestyle—luxury cars, sizable houses, and a stacked savings account on the side. But now it’s barely enough for most to survive.

More than half of Americans making over $100,000 annually lived paycheck to paycheck in 2022, up 7% more than the previous year, according to a 2023 report from PYMNTS and LendingClub. 

There are a few reasons why more six-figure earners are struggling to keep their heads above water; the SmartAsset report points to raging inflation and shifting salaries across the U.S. Some workers have been hit with wage deflation; employees who stayed in their current roles received a 4.6% wage bump in January and February, while those who switched jobs received only a marginally higher increase of 4.8%, according to recent data from the Atlanta Fed. This has ruined the prospect of switching companies to make more money in the same role. 

Inflation has also increased living expenses across the board, from egg prices shooting up over 60% in the last year to a housing market paralyzed by soaring costs. It’s assumed that a middle-class lifestyle could at least keep up with the basics, but 65% of those households say their incomes were falling behind the cost of living, according to a 2024 survey from financial services company Primerica.

The American Dream of a white picket fence and stocked fridge can no longer be achieved by solely raking in a six-figure salary. While U.S. households could reach the upper-class in states with a lower wage threshold, high-paying job opportunities in those areas can be scant. And across the board, the average middle-class household in every state still doesn’t make $100,000.

Is your household struggling to get by on a six-figure income? Fortune wants to hear from you. Reach out: [email protected]

Here's how much you'll need to outearn to escape the middle-class in every U.S. state

U.S. states are ordered from the highest to the lowest upper-bound incomes needed to maintain a middle-class standing.

This story was originally featured on Fortune.com

Read More Details
Finally We wish PressBee provided you with enough information of ( People making six-figure salaries used to be considered rich—now households earning nearly $200,000 a year aren’t even considered upper-class in some U.S. states )

Also on site :

• Kristen Doute Makes Bold Statement About Brittany Cartwright's Heated Reaction to Nia Sanchez
• She escaped an avalanche and became the first woman to summit Everest. Today, few remember her name
• Germany could reintroduce military draft – defense minister