In 2018 a lower class income household was considered a household of three making less than $52,000 per year. About half of U.S. adults 52% were considered middle-class. About 29% were lower class, according to a new Pew Research Center analysis of government data. However, according to 2022 data, Pew Research Center analysis shows that there is no longer a lower class. Classes are now described; as lower middle-class and upper middle class. Currently, in the Denver Metro area lower middle class is $60,000 a year, and the upper middle class is estimated at $181,000 per year.
Where does the lower-class fall now? Well, it seems that the lower class has completely vanished and that is simply because most households need to make an annual salary of around $60,000 to afford the cost of living in the Denver metro area. Inflation and the cost of living and wages have also made it difficult to buy a home for most people living in Colorado. Not to mention, the high-interest rates, which have been fluctuating between 4.5% and 6.6% for the past 10 months or more. Have you felt the whiplash of the economy changes since 2018? Tell us how, we would love to hear your story.
