What’s your class? Where do you rank?
Bottom Line: As you’ll hear me say there are two sides to stories and one-side to facts. In the name of politics and division many falsehoods are perpetuated. Among them, that the middle-class has been gutted, you can’t get ahead, etc. Based on the most recent government data we have an updated view of America’s income classes. First here’s the breakdown on who’s in what class...
- Middle-class: 52%
- Lower-class: 29%
- Upper-class: 19%
Clearly the middle-class isn’t dead and is still very much the “middle of America”. In fact, the middle-class has actually grown since the recession. In 2011, 51% of Americans were in the middle. So, what class are you in? Based on median household income...
- Lower-class: $25,624
- Middle-class: $78,442
- Upper-class: $187,872
In South Florida (the-tri county area) here’s the breakout:
- Middle-class: 48%
- Lower-class: 38%
- Upper-class: 14%
This illustrates some of the challenges we have in South Florida given the above average cost of living. The average standard of living is a bit lower across the board, yet we have above average costs due to South Florida being an aspirational destination location.
If you want to calculate exactly where you stand here’s a calculator that’ll tell you (if it doesn't come up for you here's the link):
http://www.pewresearch.org/interactives/are-you-in-the-middle-class/