Minimum Annual Income Needed to Qualify as Middle Class in Various US States
A new study by Consumer Affairs has determined that the minimum annual income required for a family of four to be considered middle class in Illinois is $67,830. This figure takes into account the impact of inflation and reflects the changing dynamics of the middle class in the United States, which has seen a decline in its share of income over the past few decades. Inflation has also contributed to the shifting definition of middle class, with some families who were previously considered middle class no longer meeting the criteria. Other states with higher minimum annual incomes for middle-class status include Hawaii, the District of Columbia, New York, New Jersey, and Connecticut.