The American middle class is often depicted as a kind of mythical economic group living in perfect financial balance. The middle class continues to shrink in much of the country amid recent economic challenges and the constant rise in the cost of living.
Fortunately, there are some cities where the middle class is thriving.
To find out where the middle class is doing better than usual, GOBankingRates analyzed data from the U.S. Census on the 200 largest cities. The study, using the latest data from 2022, examined the growth of middle-class incomes, households, businesses and industries that employ them.
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But, what is considered middle class? The middle class is ultimately based on income. According to Pew Research, middle-class incomes are two-thirds to double the national median, a wide range that can vary quite a lot from place to place.
For example, Hialeah, Florida’s median household income is $49,531, making its middle-class income range from $33,021 to $99,062. But in Chula Vista, California, the median household income is $101,984, making its middle-class income range from $67,989 to $203,968.
Read on to find out where America’s middle class is thriving.
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Andrew DePietro contributed to the reporting for this article.
Methodology: GOBankingRates determined the cities where the middle class is thriving by analyzing the 200 largest cities in the U.S. by population: (1) median household income in 2022, 2020 and 2017; (2) 2-year median household income growth; (3) 5-year median household income growth; (4) mean income for third quintile (40%-60%) of household earners, 2022, 2020 and 2017; (5) 2-year third quintile income growth; (6) 5-year third quintile income growth. All data was sourced from the U.S. Census Bureau’s 2022, 2020, and 2017 American Community Surveys. All data was collected and is up to date as of April 15, 2024.
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This article originally appeared on GOBankingRates.com: 30 Cities Where the Middle Class Is Thriving…Read more by Jordan Rosenfeld
