How much money do you need to be part of the middle class in Michigan?

Have you ever heard the phrase “the middle class is shrinking”?

i know i have And when I was younger and more naive to the situation, I paid less attention to it.

american middle class

In 1971, 61% of Americans were middle class, according to a Pew Research Center survey. According to the latest 2016 Census data, only 52% of her Americans can be defined as “middle class.”

The cost of living has certainly increased over time. Looking at the US Inflation Calculator data, inflation is typically between 0.7% and 2.3% (based on 2012-2020).

But Americans have experienced an unprecedented amount of inflation over the past few years. In 2020 and 2021, Americans saw inflation rates of 7% and 7.1% respectively. With that in mind, how much money do you need to be considered “middle class” in Michigan?

Michigan middle class income

Where you live definitely affects whether your income counts as “middle class”. were examined to determine the income range required for individuals, couples, and families of four to be considered intermediate. -class.

Here’s what you must earn in Michigan to be considered middle class.

• Individual – $24,345 – $73,035
• Couple – $34,429 – $103,288
• Family of 4 – $48,690 – $146,071

However, this is not accurate as inflation has risen significantly in recent years. Since 2016, the US Inflation Calculator uses his 2016-to-date cumulative inflation rate of 24%. This is a more accurate reflection of what the middle class income range will look like in 2022.

• Individual – $30,198 – $90,594
• Couple – $42,706 – $128,121
• Family of 4 – $60,396.36 – $181,190

So you have it. This is the income required to be considered middle class in Michigan.

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