HERE’S HOW FAR A TYPICAL MIDDLE-CLASS SALARY GOES IN PHOENIX

LIVING IN PHOENIX, ARIZONA

 

Here’s How Far A Typical Middle-Class Salary Goes In Phoenix

 

The financial reality of being in the middle class — defined by the Pew Research Center as those with an income that is two-thirds to double that of the U.S. median household income — has become more bleak over the past few decades. According to the Pew Research Center, since 1970, the growth in income for the middle class has not kept pace with the growth in income for the upper class. Additionally, the share of total U.S. household income held by the middle class has significantly decreased. With that in mind, how far does a a typical middle-class salary go in Phoenix?

To answer that question, GOBankingRates has published new research revealing how much income the typical family in Phoenix has left over — if anything — after paying for basic living costs like housing, groceries and transportation.

Key Phoenix findings include:

• The household median income before cost of living adjustments in Phoenix is $72,092.
• The household median income after cost of living adjustments in Phoenix is $19,950.

You can find the full report, including an interactive module displaying data for the top 50 cities, here: https://www.gobankingrates.com/money/economy/how-far-typical-middle-class-salary-goes-in-americas-largest-cities/

 

Given these stats, it’s not too surprising that members of the middle class are struggling to get by in many of America’s largest cities. A new GOBankingRates study looked at the 50 most populous U.S. cities to see where middle-class salaries go the furthest by analyzing each city’s cost of living expenditures, cost of housing and how much — if anything — is left over after covering these costs based on the median middle-class salary. The study found that in 10 of the 50 most populous cities, the median middle-class homeowner doesn’t make enough money to cover the average annual cost of living.

Key national findings:

• The median middle-class homeowner cannot afford the average annual cost of living in 10 cities, including six in California — San Jose, San Francisco, San Diego, Los Angeles, Long Beach and Oakland.
• Living in a major city is much more affordable for middle-class renters. In all but one of the 50 largest cities — New York — the median middle-class renter will have money left over after covering housing and other living expenditures.
• The 10 most affordable cities for middle-class homeowners are concentrated in the Midwest (Detroit; Wichita, Kansas; Milwaukee; Indianapolis; and Kanas City, Missouri) and the South (Memphis, Tennessee; Tulsa, Oklahoma; Baltimore; Oklahoma City; and El Paso, Texas).

    – more at azbigmedia.com