The drastic change in the middle class in the past ten years

The definition of middle class isn’t so common for most people these days. With the rapidly changing economy and inflation, some people make less than the poverty line while others make more.

A recent analysis study from GOBankingRates determined the range of income needed to earn a spot in the middle class in all 50 states. 

The analysis is based on the latest data available from the 2022 American Community Survey from the U.S. Census Bureau.

GOBankingRates defines the middle class as those with an annual household income of two-thirds to double the median income. 

The good news for people in Florida is that they don’t need to earn as much as many other states to be considered middle class. 

Mississippi has the lowest household income needed to be middle class at $35,323. 

Maryland has the highest at $65,641. 

Florida comes in at $45,278. 

Florida was ranked 13th for the biggest increases in what someone needs to earn to be considered middle class. 

What it takes to be considered middle class in Florida and other states jumped greatly between 2012 and 2022. 

The middle-class income range in 2012 was about $31,500 to around $95,000. Ten years later, the minimum is $45,000, ranging up to around $136,000. That’s a 44% jump over ten years.

According to this analysis, some people in Southwest Florida don’t consider themselves middle class.

People like Christian Garland, who’s worked in the food service industry with his parents for years, have experienced the struggle first-hand.

“The middle class out here is gone, I believe,” said Garland. “I believe there will be no classes left here except the ultra-poor class. My parents used to own several businesses here. It was the hardest thing we ever did. They don’t put any money into the business here.”

Garland has also experienced the financial disadvantages food services go through.

“I was making less than $20 years prior, and I have been making $20 recently in the last few years,” said Garland. “It’s impossible to do. You can’t afford everything: housing, food, and gas to get back and forth to work. It’s impossible. The price of inflation is still rising, so you’re gonna pay more for the goods. That’s what inflation is. It’s just like a secret tax.”

Even people like Roy Schoelfled, who is retired and considers himself middle class based on the analysis, believe the lowest end of middle-class income is too low to be considered middle class.

“I don’t know how anyone could live in Lee County on $45,000 a year,” said Schoelfled. “I would raise it up to about $60,000 at the bottom. $45,000 really seems low, but I don’t make the rules. I just live by them.”