The household range for middle class earners in Alabama is $17,807 to $91,778 with a median family income of $66,171, the sixth lowest in the country. The middle class share of Alabama income is 46.5%, the 22nd lowest; the richest 5% of Alabama income is 21.8%, the 23rd lowest.
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What’s considered middle class in Alabama?
Here are the income levels that qualify Alabamians as middle class: 2-person family middle class income range: $37,172.94 to $110,964. 3-person family middle-class income range: $42,604.63 to $127,178. 4-person family middle-class income range: $52,438.89 to $156,534.
What is upper class income in Alabama?
Residents need to make at least $28,566 to be included in the middle class, lower bound category in Alabama, while the upper bound category is $85,698. The median household income in Alabama is $42,849, substantially more than the required amount to be on the lower bound sector of the state middle class.
What is considered a good income in Alabama?
Average Salary in Alabama
| Annual Salary | Weekly Pay | |
|---|---|---|
| Top Earners | $78,782 | $1,515 |
| 75th Percentile | $64,776 | $1,245 |
| Average | $53,786 | $1,034 |
| 25th Percentile | $43,330 | $833 |
What is upper class in Alabama?
Alabama’s wealth threshold is $88,984. The state is tied with Arkansas for the fourth-lowest cost of living of all states and it’s also one of the places where you can get a larger home for less than $300,000 – the median price of a top-tier home in Alabama is $246,400.
What is upper class salary?
For a family of three, that ranges from $40,100 to $120,400 for 2018 incomes in a recent Pew study.
What Is a Middle-Class Income?
| Income group | Income |
|---|---|
| Lower-middle class | $32,048 – $53,413 |
| Middle class | $53,413 – $106,827 |
| Upper-middle class | $106,827 – $373,894 |
What is upper middle class in Alabama?
What the study found is the cost of living varies significantly from state-to-state with the bottom threshold for being middle class as low $15,165 and as high as $41,532 . On the other end, the upper range of middle class earners are as low as $148,210 and as high as $295,250.
How much money do you need to live comfortably in Alabama?
To retire comfortably in the state of Alabama starting today, you will need to have saved at least $65,000.
What is the poorest city in Alabama?
With a median household income of $9,286 (compared to $44,758 for the state), Oak Hill is the poorest community in Alabama.
What is considered middle class 2020?
In the simplest sense, if your median household income for 2020 was from $50,641 to $135,042, you are considered middle class, according to estimates from Wenger.Kochhar estimates the median American household income for 2020 lies closer to $51,200 to $153,000 for a three-person household.
How much is average income in Alabama?
Table
| Population | |
|---|---|
| Transportation | |
| Mean travel time to work (minutes), workers age 16 years+, 2015-2019 | 24.9 |
| Income & Poverty | |
| Median household income (in 2019 dollars), 2015-2019 | $50,536 |
What is the average single income in Alabama?
The ACS survey shows the median per capita income for Alabama was $28,650 in 2019. Compared to the US per capita income, Alabama per capita income is $7,022 lower. Per capita income numbers for 2020 will be released in September of 2021.
What is the wealthiest county in Alabama?
Shelby
Alabama counties ranked by per capita income
| Rank | County | Per capita income |
|---|---|---|
| 1 | Shelby | $33,978 |
| 2 | Madison | $29,918 |
| United States | $27,334 | |
| 3 | Jefferson | $26,529 |
What salary is considered middle class for a single person?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Family of four |
|---|---|---|
| California | $29,851 – $89,552 | $59,702 – $179,105 |
| Colorado | $26,876 – $80,629 | $53,752 – $161,257 |
| Connecticut | $28,364 – $85,091 | $56,727 – $170,181 |
| Delaware | $26,146 – $78,437 | $52,291 – $156,873 |
What qualifies as middle class?
The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $61,372 in 2017, according to the U.S. Census Bureau. 21 Using Pew’s yardstick, middle income is made up of people who make between $42,000 and $126,000.
What jobs are in the middle class?
7 Middle Income Jobs That Pay Over $35,000
- Electrician.
- Computer Support Specialists.
- Medical and Clinical Lab Techs.
- Wind Turbine Technicians.
- Industrial Machinery Mechanics.
- Environmental Engineering Techs.
- Dental Assistants.
What percentage of Americans make over 100k?
Percentage distribution of household income in the U.S. in 2020
| Annual household income in U.S. dollars | Percentage of U.S. households |
|---|---|
| 75,000 to 99,999 | 12.2% |
| 100,000 to 149,999 | 15.3% |
| 150,000 to 199,999 | 8% |
| 200,000 and over | 10.3% |
Is 100k a good salary?
An annual income of £100,000 is enough to put a recipient comfortably within the top 2% of all earners, and the figure has become a key indicator that the recipient is a high-flier.
How do you know if you are middle class?
Pew defines “middle class” as a person earning between two-thirds and twice the median American household income, which in 2019 was $68,703, according to the United States Census Bureau.
What salary is considered rich?
With a $500,000+ income, you are considered rich, wherever you live! According to the IRS, any household who makes over $470,000 a year in 2021 is considered a top 1% income earner.
What is considered low income in Alabama?
Alabama is the fifth poorest state in the U.S., and 16.8% of Alabamians live below the federal poverty threshold – a noticeably larger percentage than the national average of 13.1%. The federal poverty thresholds range from $12,784 for one person to $25,701 for a family of four.
