This is what you need to make to be ‘middle class’ in Colorado

This is what you need to make to be ‘middle class’ in Colorado

DENVER (KDVR) — Coloradans now have to make 50% more than they did in 2012 to qualify as “middle class,” according to a new study of U.S. Census Bureau data by GOBankingRates.

Back in 2012, residents of Colorado were considered middle class if they made anywhere between $38,829 and $116,488. Just 10 years later in 2022, that range was $58,399 to $175,196.

This was the third-highest 10-year jump among the states and exceeded the rise experienced in states like California or New York.

The study took data from the 2012, 2017 and 2022 American Community Surveys by the Census Bureau to find the household median income in each state. Using that figure, GOBankingRates then found the middle-class range, which is two-thirds to double the median income.

Because the 2022 median income in Colorado was an estimated $87,598, two-thirds of that is $58,399 while double it is $175,196.

The five biggest 10-year rises in what is considered “middle class,” according to GOBankingRates:

  1. Oregon – 53.15% rise
  2. Washington – 52.13% rise
  3. Colorado – 50.40% rise
  4. California – 49.68% rise
  5. Idaho – 49.34% rise

The lowest 10-year rise was seen in Alaska, where the middle-class range went up by 23.53%. However, the 2022 range there was still similar to Colorado’s, with residents needing to make between $57,580 to $172,740 to be middle class.

The state with the lowest amount needed to be considered middle class was Mississippi, with the low-end being $35,323. On the flip side, Maryland had the highest income needed at $65,641, according to the study.

According to an earlier study by another website, SmartAsset, Colorado is one of 17 states where people have to make over $50,000 to be considered at the low end of the “middle class.”

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