Study Finds Alabama's Middle Class Income Remains Below National Average
ICARO Media Group
In a recent study conducted by GoBankingRates, it has been revealed that the income required to live a middle-class lifestyle in Alabama remains below the national average. The study analyzed the minimum income needed to qualify as middle class across different states in the United States.
According to the findings, Alabama's minimum income requirement to be considered middle class is $39,739. This figure is 41.4% lower than the lowest national threshold. Only five states have a lower income requirement, namely New Mexico ($39,148), Louisiana ($38,568), Arkansas ($37,557), West Virginia ($36,811), and Mississippi, with the lowest at $35,323.
On the other end of the spectrum, Maryland had the highest minimum household income requirement to live a middle-class lifestyle, with $65,641. This is considerably higher compared to Alabama's income threshold.
The study also revealed that the upper end of the middle-class income range in Alabama is $119,218, indicating a significant disparity between the lowest and highest income brackets tied to the middle class.
Additionally, the study analyzed the changes in the income needed to qualify for the middle class over the past decade. Nationally, the figure has increased by 41.7%. Alabama's rate of increase, though below the national average, amounts to 38.1% over the past ten years, ranking 32nd among the 50 states.
Some states have experienced more substantial changes in middle-class incomes. For example, Oregon recorded the largest jump, with an increase of 53.15% to reach $51,088. Conversely, Alaska experienced the least change, with an increase of 23.5% to $57,580, although still higher than Alabama.
These findings highlight the varying economic situations across different states and the challenges faced by individuals and families striving to maintain a middle-class lifestyle. While Alabama's middle-class income remains below the national average, it is crucial to monitor these income trends and address the needs of citizens to ensure the accessibility and stability of the middle class across the United States.