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Is $40 000 a year middle class?

For example, a person who makes $40,000 per year may be middle-class in a small, rural town. But that same income in a large coastal city would be well below the median income. Thus, a better way to think about the middle class is to consider how much people need to get by given all of these intersecting factors.

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We tend to believe we know what “middle class” means. After all, it seems easy enough to define if we only consider income. But being a part of the middle class is more complicated than it may seem at first; factors like location and debt also play a role. For example, a person who makes $40,000 per year may be middle-class in a small, rural town. But that same income in a large coastal city would be well below the median income. Learn: Here’s How Much Cash You Need Stashed If a National Emergency Happens Thus, a better way to think about the middle class is to consider how much people need to get by given all of these intersecting factors. Pew Research defines being middle-class as making 75% and 200% of the median income. By looking at the median household income figures from the most recently available U.S. census data, we’ve found just how much you’d need to earn to live comfortably in these major U.S. cities.

San Francisco, California

Median household income: $121,826

In San Francisco, the median household income is $121,826. Thus, the middle-class income ranges from $81,209 to $243,652. These numbers are higher than the middle-class income for most cities; in fact, the median income for San Francisco is the highest in the nation among the top 25 most populated cities.

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Seattle, Washington

Median household income: $110,781

The median household income in Seattle is $110,781. Here, the middle-class income range is $73,847 to $221,562. Seattle also has the second-highest median income.

Washington D.C.

Median household income: $90,088

The nation’s capital has the third-highest median household income among major U.S. cities. The range of middle-class incomes is $60,053 to $180,176, which is significantly higher than the national average range ($46,478 to $139,434).

Denver, Colorado

Median household income: $81,630

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Denver has seen expansive growth in recent years and it maintains a high level of income. The middle-class income range in Denver is $54,415 to $163,260.

Austin, Texas

Median household income: $79,542

Austin is another city that has been exploding in population growth. Its median income is only slightly less than that of Denver, with a middle-class income range of $53,023 to $159,084.

Boston, Massachusetts

Median household income: $79,283

Boston has the sixth-highest median income in the nation, though its median is noticeably less than that of D.C. The median income puts its middle-class range at between $52,850 and $158,566.

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Jordan Rosenfeld contributed to the reporting for this article.

This article originally appeared on GOBankingRates.com: How Much You Need To Be ‘Middle Class’ in 6 US Cities

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What is a good salary at 35?

Median Salary in the US by Age Bracket Age Range Median Weekly Earnings Median Annual Earnings 25-34 $975 $50,700 35-44 $1,155 $60,060 45-54 $1,172 $60,944 55-64 $1,134 $58,968 3 more rows •

While age is one helpful way to consider median salary data, there are other factors that appear to influence salaries too. For instance, salaries often differ by industry and location. And another major factor that can impact salary is education level.

Pay Gaps

As the BLS points out, pay gaps—other than those related to factors like age, education, industry and location—exist between the sexes and between ethnicities and races. For example, women only earned 83.2% of what men earned in the first quarter of 2022. And, as the BLS explains, “Among the major race and ethnicity groups, median weekly earnings of Blacks ($840) and Hispanics ($799) working full-time jobs were lower than those of Whites ($1,064) and Asians ($1,362).”

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