Do you think you're middle-class in Georgia?
Depending on inflation and your cost of living, what defines people as "middle class" changes and evolves. This informal socioeconomic tier is often defined by household income. GoBankingRates released two studies analyzing states' salaries needed to considered middle-class, one for single adult households and the other for households of multiple individuals. They both used data from the Census and Pew Research Center.
What income qualifies as middle class in Georgia?
Single households in Georgia reportedly need to make at least $49,776 to be considered middle-class. Compared to other states, this puts it at about No. 24 on this particular list.
Regarding larger families' needed income, Georgia ranks 18th best for two and three-person households, 17th best for four-person households.
Here's what is needed for families:
Two-person family middle-class income range: $53,287 to $159,860
Three-person family middle-class income range: $60,853 to $182,560
Four-person family middle-class income range: $73,824 to $221,472
What is the average cost of living in Georgia?
MIT's Living Wage Calculator estimates that for a one-adult household, you'll need $49,790 (before taxes). This gross income accounts for housing costs, utilities, internet, transportation costs and more. For two-adult households, you'll need $66,582 before taxes. Any cost of living will increase with children.
Is Georgia a good place to live?
Whether a place is a good place to live or not is subject to interpretation and based on different residents' needs and perspectives. However, CNBC analyzed the states and ranked them by quality of life this past month.
Which state has the lowest income needed to be considered middle-class?
Mississippi has the lowest needed income to be considered middle-class for a single-person household: $36,610 to $109,830. Here is what is needed for larger families:
One-person household middle-class income range: $36,610 to $109,830
Two-person family middle-class income range: $41,999 to $125,998
Three-person family middle-class income range: $48,226 to $144,678
Four-person family middle-class income range: $57,139 to $171,416
Which state has the highest income needed to be considered middle-class?
Maryland has the highest needed income to be considered middle-class for single adult households: $67,768 to $203,304. Here is what is needed for larger families:
2-person family middle-class income range: $71,611 to $214,834
3-person family middle-class income range: $85,098 to $255,294
4-person family middle-class income range: $102,745 to $308,234
Miguel Legoas is a Deep South Connect Team Reporter for Gannett/USA Today. Find him on Instagram @miguelegoas and email at [email protected].
This article originally appeared on Savannah Morning News: Are you middle class in Georgia? These are the income ranges to qualify
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