Here's how much you need to make to be considered middle class in Texas
With the cost of living soaring significantly over the past couple of years nationwide, the majority of working Americans aren’t sure how far their paycheck can stretch to cover expenses these days.
A new study from the personal finance site SmartAsset explores what it takes financially to be middle class in 2024 in all 50 states and 345 of the nation’s largest cities. The company used recent data from the U.S. Census Bureau and the Pew Research Center.
Here's what it takes to be considered middle class in 2024 for each state
With inflation rising, some families who used to be "middle class" no longer fit in that category. Here are the most cheapest and most expensive states and cities for 2024.
What is the average middle class income in Texas?
In 2024, a large U.S. city’s middle-class income averages between $52,000 and $155,000, with the median household income across all 345 cities at $77,345, making middle-class income limits fall between $51,558 and $154,590, SmartAsset noted.
In Texas, the income is a bit lower than the nationwide average.
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The income for the middle class ranges from $48,185 to $144,568 in Texas, according to the data from the U.S. Cenus Bureau. The median household income was 72,284 in Texas.
Texas ranked 24th among states in median household income.
Frisco, Allen among cities with the highest middle class thresholds
The study also took a look at the middle class income ranges in 345 U.S. cities.
Two North Texas cities were near the top of the list.
Frisco had the eighth-higest.
The median household income in Frisco was $145,914, with the lower end of middle class sitting at $97,266 and the upper end was $291,828.
Allen finished 21st on the list.
The median household income in Allen sits at $121,127, with the middle class ranging from $80,743 to $242,254.
Dallas finished 213th on the list with a median household income of $65,400 and a middle class between $43,596 and $130,800.
Fort Worth was 184th with a median household income of $71,527. The middle class in Cowtown is for households making between $47,680 and $143,054.
LINK: To see SmartAssest's complete list, click here
FOX Digital contributed to this report.