Heres how much money you now need to make to be considered upper-middle class in New York
An annual household income of at least $131,566 is now needed to qualify as upper-middle class in New York state — but you need even more money in neighboring New Jersey and ConnecticutAccording to Pew Research, America’s middle class is defined as households earning between two-thirds and twice their state’s median income.GoBankingRates conducted the new study, using 2023 Census data to calculate the middle-class income range for each state.
They subsequently used the top third of that range as the qualifier for being upper-middle class.In New York, the annual middle-class income ranged from $56,385 to $168,156, meaning $131,566 was the minimum needed to be considered upper-middle class.In Connecticut, the figure was slightly higher, with a minimum annual household income of $145,849 needed to qualify.
In New Jersey, the experts calculated that a household needs to make at least $157,189 to qualify as upper-middle class.Of course, living expenses vary wildly within and between states, so many who make an upper-middle class salary may still feel squeezed depending on where they live.For instance, Big Apple denizens need to make much more money to feel comfortable than those living in a small town upstate.However, the tri-state area at large isn’t the only part of the country where you need to make considerable cash to qualify as upper-middle class.
Indeed, there are other states where earnings must be even higher.In Massachusetts, you need a minimum annual household income of $157,642 to meet the threshold, while in Maryland you need a sizable $158,125.That state has the highest minimum needed to qualify, which is perhaps no surprise given that it’s a relatively small state home to many high-end suburbs in commuting distance to Washington, DC.
Conversely, Mississippi is the state with the lowest annual income needed to qualify as upper-middle class.There, a household needs to earn an annual minimum of $85,423 to make the cut.
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