23 U.S. cities where you can earn $150,000 and still be considered middle class (2024)

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23 U.S. cities where you can earn $150,000 and still be considered middle class? ›

Middle-income households – those with an income that is two-thirds to double the U.S. median household income – had incomes ranging from about $56,600 to $169,800 in 2022. Lower-income households had incomes less than $56,600, and upper-income households had incomes greater than $169,800.

Middle-income households – those with an income that is two-thirds to double the U.S. median household income – had incomes ranging from about $56,600 to $169,800 in 2022. Lower-income households had incomes less than $56,600, and upper-income households had incomes greater than $169,800.

For a single person, especially one who's not supporting any dependents, $150,000 is a good annual salary. Consider the average salary in the U.S., which is $65,470, according to May 2023 data from the Bureau of Labor Statistics (BLS). A $150,000 annual salary is about 129% higher than the national average.

What percentage of Americans make over $150,000 per year? Research from Statista indicates that 21.1% of workers in the U.S. make over $150,000 per year.

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 $65,000 in 2021, according to the U.S. Census Bureau.21 Using Pew's yardstick, middle income is made up of people who make between $43,350 and $130,000.7 This is a ...

While the exact threshold fluctuates based on factors such as local cost of living and inflation, those in the upper middle class typically have an estimated household income of $150,000 to $250,000. This income level is much higher than what the average American makes.

However, new GOBankingRates research shows that in some major U.S. cities, an annual income of $150,000 is only enough to qualify as “lower middle class.” This is especially pronounced in two Northern California cities and Arlington, Virginia.

This field is for validation purposes and should be left unchanged. With a $150,000 annual salary, you could potentially afford a house priced between $450,000 to $750,000 or even more, depending on your financial situation, credit score, and current market conditions.

While there's no definitive line, households in the top 20% of earners are generally considered upper class. According to the U.S. Census Bureau, the median household income in 2022 was $74,580. To reach the upper class in 2024, you'd typically need an income exceeding $153,000 – more than double the national median.

As of Sep 12, 2024, the average hourly pay for a 150K in California is $14.41 an hour. While ZipRecruiter is seeing salaries as high as $21.59 and as low as $10.91, the majority of 150K salaries currently range between $12.79 (25th percentile) to $17.79 (75th percentile) in California.

What salary is considered rich for a single person? ›

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

The average salary in the USA in 2024 has been accounted for around USD 59,640 (INR 46.4 L), while the average weekly USA job salary stood at USD 1,070 (INR 89.2 K). The highest average salary for 2023 was recorded at USD 74,984 (INR 62.5 L) for a particular set of working-class people.

The salary you need to be considered middle class in every U.S. state—it's close to $200,000 in 2 of them. In the U.S., whether you're considered middle class or not may depend on where you live. In some states, you can earn over $150,000 and still be considered middle class.

One common way to classify the upper middle class is based on income. The upper middle class is often defined as the top 15% to 20% of earners. According to the Social Security Administration's 2022 wage data, the average upper-middle-class income was roughly between $80,000 and $100,000.

According to the OECD, the middle class refers to households with income between 75% and 200% of the median national income.

What is the average middle class income? In 2024, a large U.S. city's middle-class income averages between $52,000 and $155,000, with the median household income across all 345 cities at $77,345, making middle-class income limits fall between $51,558 and $154,590, SmartAsset noted.

The middle class is commonly defined as households earning between two-thirds and double the median income, which is $128,151 in the San Francisco-Oakland-Berkeley, California metro area, the Census Bureau reports. That means middle class households there earn between $85,434 and $256,302 a year.

Middle Class Income in 2024

But data from the U.S. Census Bureau cites a different number as the average salary: just under $75,000. What does this all mean? By the Census data, it means that if you earn between $50,000 and $150,000 a year, you are considered middle class.

According to the study, a middle-class income averages between $52,000 and $155,000 in a large U.S. city.