A new report by the Pew Research Center shows how much money one needs to earn to be considered “middle class” in major cities.
A new report shows how much money one needs to earn to be considered “middle class” in major cities across the country.
The Pew Research Center found the middle class has been shrinking for the last 50 years and reports more Americans have entered either the upper or lower income brackets.
The study defines “middle class” as earning between $47,000 to $141,000 a year. However, it says family size and location also determines the status.
According to the report, “middle class” in Los Angeles, Long Beach and Anaheim is $165,000 for a family of three.
In Riverside, San Bernardino and Ontario, a family of three must ring in $154,000 to be considered “middle class.”
The study also shows those ages 65 and older made the most notable progress up the income ladder from 1971 to 2021.
Black adults, as well as married men and women, were also among the biggest gainers, with net increases ranging from 12 to 14 percentage points.
Source: abc7.com
