How Big Is America's Middle Class in 2024?

The graphic displays the 2023 income distribution of US households, defining middle class as two-thirds to double the median income. Using Census Bureau data, the median income was $80,060, placing households earning $53,000–$161,000 in the middle class. This constitutes approximately 40% of all US households. The $100,000–$150,000 income bracket held the largest share (17%) of households, followed by the $50,000–$75,000 bracket (15.7%). The $200,000+ bracket surprisingly held the third-largest share (14.4%). The middle class's origins trace back to the Industrial Revolution, creating a new social stratum. A robust middle class is crucial for economic stability, driving consumer spending and investment. Its expansion correlates with reduced poverty and improved social welfare. The data provides a snapshot of US income inequality and the significance of the middle class. The information is sourced from the Census Bureau and adjusted for inflation.