ILLINOIS – The cost of living has grown across the nation in recent years, and with it, so has the standard to be considered “upper-middle class.”
A new study from GoBankingRates.com, a personal finance website, determined how much income a person would need to be considered “middle class” and “upper middle class” in every U.S. state.
The study used the Pew Research Center’s definition of middle-class, ranging from $56,000 to $169,000 nationally, as a reference point. From there, the GoBankingRates research team factored in Census data such as median household incomes, total population and the number of households to determine the “middle class” and “upper-middle class” income levels for each state.
According to GoBankingRates, an individual living in Illinois needs to make a salary of at least “$127,092” to be considered upper middle class.
The study determined the state’s middle-class income range to be $54,468 to $163,404. Anything lower is presumably considered working-class, while anything higher is presumably considered upper-class.
Eight states had a beginning point of an “upper-middle class” salary still under six figures, but not by much in most cases. Maryland had the highest standard of “upper-middle class” income, starting at $158,125.
