3 ms·
So, a few reference points. In 1980: the median household income was $17.7k. The median income for one individual was $12k. $80k in 1980 is roughly equivalent t
by falcolas 5y ago
So, a few reference points. In 1980: the median household income was $17.7k. The median income for one individual was $12k. $80k in 1980 is roughly equivalent to $240,000 in 2020.
That was top-end middle class, absolute minimum.
https://www2.census.gov/library/publications/1982/demographics/p60-132.pdf https://www2.census.gov/library/publications/1982/demographi...
- onlyrealcuzzo 5y agoThat would've been top 4% in income then.
- ryandrake 5y ago$240,000 in Bay Area California is immensely different than $240,000 in the hills of West Virginia. Middle class is more of a lifestyle than a particular income number. It is entirely possible that middle class in a particular city includes people whose incomes are in the top 5% nationally, but still live barely comfortably because their high cost-of-living area. I'd argue median income is irrelevant when it comes to assessing whether or not someone is living a middle class lifestyle.
- onlyrealcuzzo 5y agoThis has some merit currently - but far less so in the past. NYC and The Bay area have always been expensive. But the difference 40-years ago was nowhere near as drastic as it is today.