What the Middle Class Makes in 30 Ultra-Wealthy American Towns
Achieving middle-class status isn’t as easy as it was, say, 50 years ago. According to Pew Research Center data published in 2022, the share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021. Among the chief reasons it’s difficult to make the middle-class cut: widening income gaps and the rise of mega businesses that put smaller businesses in economically precarious positions.
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Whether you’re middle class or not depends, in part, on where you live. For example, what qualifies you as middle class in Williamson, West Virginia, certainly won’t qualify you as such in San Francisco, where the cost of living is much higher.
To get an in-depth understanding of what the American middle class makes in ultra-wealthy towns, GOBankingRates analyzed cities across the U.S. to find those where a $250,000 income is considered middle class. The cities were sorted to show the highest minimum and maximum income range, representing cities with the wealthiest middle-class families in the country.
Also see what it takes to be upper middle class in 20 American cities.
30. Bethesda, Maryland
Minimum income considered middle class: $187,724
Maximum income considered middle class: $563,172
Household mean income: $281,586
Monthly cost of living: $9,608
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Find Out: What Is the Median Income for the Upper Middle Class in 2024?
29. Westfield, New Jersey
Minimum income considered middle class: $187,825
Maximum income considered middle class: $563,476
Household mean income: $281,738
Monthly cost of living: $9,136
Also See: These Are America’s Wealthiest Suburbs
28. Winchester, Massachusetts
Minimum income considered middle class: $189,088
Maximum income considered middle class: $567,264
Household mean income: $283,632
Monthly cost of living: $11,588
27. Lake Forest, Illinois
Minimum income considered middle class: $189,856
Maximum income considered middle class: $569,568
Household mean income: $284,784
Monthly cost of living: $8,424
26. Corte Madera, California
Minimum income considered middle class: $189,863
Maximum income considered middle class: $569,588
Household mean income: $284,794
Monthly cost of living: $13,293
25. Potomac, Maryland
Minimum income considered middle class: $191,945
Maximum income considered middle class: $575,836
Household mean income: $287,918
Monthly cost of living: $9,952
24. Mercer Island, Washington
Minimum income considered middle class: $193,770
Maximum income considered middle class: $581,310
Household mean income: $290,655
Monthly cost of living: $15,868
Find Out: What the Upper Middle Class Makes in Different US Cities
23. Tenafly, New Jersey
Minimum income considered middle class: $194,064
Maximum income considered middle class: $582,192
Household mean income: $291,096
Monthly cost of living: $9,413
22. Summit, New Jersey
Minimum income considered middle class: $194,339
Maximum income considered middle class: $583,018
Household mean income: $291,509
Monthly cost of living: $9,667
21. Bellaire, Texas
Minimum income considered middle class: $196,403
Maximum income considered middle class: $589,210
Household mean income: $294,605
Monthly cost of living: $8,293
20. Franklin Lakes, New Jersey
Minimum income considered middle class: $198,245
Maximum income considered middle class: $594,734
Household mean income: $297,367
Monthly cost of living: $10,869
19. San Carlos, California
Minimum income considered middle class: $198,931
Maximum income considered middle class: $596,794
Household mean income: $298,397
Monthly cost of living: $16,565
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18. Pinecrest, Florida
Minimum income considered middle class: $202,944
Maximum income considered middle class: $608,832
Household mean income: $304,416
Monthly cost of living: $15,620
17. Coto de Caza, California
Minimum income considered middle class: $203,925
Maximum income considered middle class: $611,774
Household mean income: $305,887
Monthly cost of living: $13,917
16. Menlo Park, California
Minimum income considered middle class: $211,056
Maximum income considered middle class: $633,168
Household mean income: $316,584
Monthly cost of living: $18,410
15. Town and Country, Missouri
Minimum income considered middle class: $214,381
Maximum income considered middle class: $643,144
Household mean income: $321,572
Monthly cost of living: $8,061
14. Palos Verdes Estates, California
Minimum income considered middle class: $228,309
Maximum income considered middle class: $684,926
Household mean income: $342,463
Monthly cost of living: $18,529
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13. New Albany, Ohio
Minimum income considered middle class: $234,459
Maximum income considered middle class: $703,376
Household mean income: $351,688
Monthly cost of living: $5,897
12. Southlake, Texas
Minimum income considered middle class: $240,052
Maximum income considered middle class: $720,156
Household mean income: $360,078
Monthly cost of living: $9,295
11. McLean, Virginia
Minimum income considered middle class: $242,729
Maximum income considered middle class: $728,186
Household mean income: $364,093
Monthly cost of living: $11,132
10. Wellesley, Massachusetts
Minimum income considered middle class: $245,201
Maximum income considered middle class: $735,602
Household mean income: $367,801
Monthly cost of living: $13,802
9. Great Falls, Virginia
Minimum income considered middle class: $249,157
Maximum income considered middle class: $747,470
Household mean income: $373,735
Monthly cost of living: $11,381
Find Out: How I Went From Middle Class to Upper Middle Class
8. Hinsdale, Illinois
Minimum income considered middle class: $253,653
Maximum income considered middle class: $760,958
Household mean income: $380,479
Monthly cost of living: $8,645
7. University Park, Texas
Minimum income considered middle class: $254,157
Maximum income considered middle class: $762,470
Household mean income: $381,235
Monthly cost of living: $15,551
6. Paradise Valley, Arizona
Minimum income considered middle class: $257,095
Maximum income considered middle class: $771,286
Household mean income: $385,643
Monthly cost of living: $22,221
5. Alamo, California
Minimum income considered middle class: $257,311
Maximum income considered middle class: $771,934
Household mean income: $385,967
Monthly cost of living: $16,837
4. Piedmont, California
Minimum income considered middle class: $269,606
Maximum income considered middle class: $808,818
Household mean income: $404,409
Monthly cost of living: $16,871
Explore More: How Much Money Is Needed To Be Considered Middle Class in Every State?
3. Winnetka, Illinois
Minimum income considered middle class: $305,992
Maximum income considered middle class: $917,976
Household mean income: $458,988
Monthly cost of living: $11,580
2. Short Hills, New Jersey
Minimum income considered middle class: $321,145
Maximum income considered middle class: $963,434
Household mean income: $481,717
Monthly cost of living: $14,550
1. Hillsborough, California
Minimum income considered middle class: $359,967
Maximum income considered middle class: $1,079,900
Household mean income: $539,950
Monthly cost of living: $31,994
Methodology: For this study, GOBankingRates analyzed cities across the United States to find the cities where a $250,000 income is considered middle class. First, GOBankingRates found basic information for cities with at least 10,000 residents, including total population, population ages 65 and over, total households, household median income and household mean income — all sourced from the U.S. Census American Community Survey. Cost of living was sourced from Sperling’s BestPlaces, the livability index was sourced from AreaVibes and the average single family home value was sourced from Zillow Home Value Index for July 2024. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage cost was calculated. Using the cost-of-living indexes and using the national average expenditure costs for all residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure costs were calculated. The expenditure and mortgage costs were used to calculate the total cost of living for each city. Pew Research Center defines the middle class by using the average income, with the minimum income being two-thirds the average and the maximum being doubled the average. Using the mean household income, the middle-class income range was calculated for each city. The cities were sorted to show the highest minimum and maximum income range, representing cities with the wealthiest “middle-class” families in the country. All data was collected on and is up to date as of Aug. 29, 2024.
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This article originally appeared on GOBankingRates.com: What the Middle Class Makes in 30 Ultra-Wealthy American Towns
