During his State of the Union address, President Joe Biden said the middle class built this country.
The middle class describes the socio-economic situation between the working class and the wealthy, where someone typically has a college degree, has significant disposable income and may own a home, according to Investopedia.
A new report from GOBankingRates crunched numbers from the most recent US Census Bureau data to find out which wage scale is considered middle class for all 50 states.
In this report, middle-class income is defined as households with a salary of two-thirds, which is double the median U.S. household income.
According to the latest data from the US Census Bureau, the average median household income in 2022 was $73,914, which would put the national income for the middle class between $49,271 and $147,828.
How much money do you need to make in 2024 to be part of the middle class in Massachusetts?
The benchmarks for being middle class in Massachusetts
According to this report, to be in the middle class in Massachusetts, you must have a household income ranging from $64,337 to $193,010 per year. Massachusetts is the third highest state in the province.
This marks a huge jump from the 2012 middle income bracket in Massachusetts. In 2012, you only had to earn $44,439 to $133,316 to be considered middle class, the report said.
That is a peak in income change of 44.78%.
According to the state’s census profile, the median household income in Massachusetts is $94,448.
The median household income in Boston is $86,331, 2022 census data shows.
Is Worcester’s average household middle class?
Census data says the city of Worcester’s median household income is $61,935.
The top 10 represents an income range that qualifies as middle class
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Maryland income range: $65,641 to $196,922
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New Jersey income range: $64,751 to $194,252
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Massachusetts income range: $64,337 to $193,010
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Hawaii income range: $63,209 to $189,628
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California income range: $61,270 to $183,810
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New Hampshire income range: $60,563 to $181,690
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Washington income range: $60,217 to $180,650
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Connecticut income range: $60,142 to $180,426
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Colorado income range: $58,399 to $175,196
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Virginia income range: $58,166 to $174,498
Tamara Walker contributed to the reporting of this story.
Rin Velasco is a trending reporter. She can be reached at rvelasco@gannett.com.
This article originally appeared on Wicklocal.com: Middle Class Income Range Massachusetts
