What It Takes to Be Middle Class in Indiana
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The annual minimum income to be considered middle class in Indiana for a family of 4 is $62,897. This is on the lower end compared to other states.
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There is no definitive line for what makes someone middle class. It's typically defined as between 2/3 to double the median household income.
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Indianapolis ranked well as an affordable place to be middle class compared to other large cities, with middle class income between $39k-$117k.
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Inflation increased the cost of living and made it harder to remain middle class over the past 20 years. But it's forecast to continue declining through 2024.
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As inflation declines, the Federal Reserve may cut interest rates, helping families financially and stimulating housing purchases and spending.