Shrinking Middle Class: Study Finds Only Half of Americans Now Consider Themselves Middle Class as Costs Rise
-
The American middle class has been shrinking since the 1970s, dropping from 61% to 50%.
-
Pew defines middle class as earning between 2/3 and twice the median US household income.
-
In 2023, the minimum middle class income for a family of four ranges from $51,798 in Alabama to $81,396 in Washington DC.
-
More Americans are now at the lower and upper ends of the income spectrum.
-
Rising costs of living since 2020 likely pushed many out of the middle class.
![](https://d.newsweek.com/en/full/2283413/middle-class-shoppers.webp?w=1600&h=900&q=88&f=8f60da51d6d53498367adc53eaf8972f)