What is a low household income?
These guidelines are adjusted each year for inflation. In 2023, the federal poverty level definition of low income for a single-person household is $14,580 annually. Each additional person in the household adds $5,140 to the total. For example, the poverty guideline is $30,000 per year for a family of four.
Where you rank by income. According to the Census Bureau's Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000. Lower-middle class: $30,001 – $58,020.
The national median household income is $74,580, according to the most recent U.S. Census Bureau Current Population Survey data for 2022. It's a 2.3% decline from 2021 estimates of $76,330.
| Family size | 2023 income numbers | 2024 income numbers |
|---|---|---|
| For individuals | $14,580 | $15,060 |
| For a family of 2 | $19,720 | $20,440 |
| For a family of 3 | $24,860 | $25,820 |
| For a family of 4 | $30,000 | $31,200 |
The gap between high and low incomes is wider in California than in most other states. In 2022 (the most recent data available), families at the top of the income distribution—the 90th percentile—earned 11 times more than families at the 10th percentile ($305,000 vs. $29,000, respectively).
Generally, an income that comfortably covers living expenses, allows for savings, and provides for leisure activities is considered good. In the United States, median household income is around $68,700 according to recent data. However, in cities with higher costs of living, a good salary might be considerably higher.
"To escape the lower middle class, you'll need to earn as much as $150,000, which is substantially higher than what it used to be." In some high-cost cities, a $150,000 annual salary is stretched financially thin and qualifies as a "lower middle class" income, according to a recent analysis from GOBankingRates.
Depending on the size of your family or household, an $80,000 salary may comfortably cover your living expenses. If other people in your household, such as children, depend on your income, consider how much it costs to pay for their living expenses in addition to your own.
| RANK | STATE | LIVING WAGE |
|---|---|---|
| 45 | Maryland | $110,244 |
| 46 | Alaska | $113,079 |
| 47 | New York | $118,127 |
| 48 | California | $130,239 |
According to the latest figures by the Bureau of Labor and Statistics, the average salary in USA per month is $5,677 or $68,124 per year. As of 2023, the gross minimum salary in the USA is $32.75 per hour. Salaries range from $32,916 to $112,268 per year and include housing, transport, and other benefits.
Is 30k a year poverty for a single person?
In 2023, the federal poverty level definition of low income for a single-person household is $14,580 annually. Each additional person in the household adds $5,140 to the total. For example, the poverty guideline is $30,000 per year for a family of four.
The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps). Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year.
Step 1: Determine the family's poverty threshold for that year. The family's 2023 poverty threshold (below) is $37,275. Table. Poverty Thresholds. Poverty Thresholds by Size of Family and Number of Related Children Under 18 Years Source: Current Population Survey (CPS)
By the Census data, it means that if you earn between $50,000 and $150,000 a year, you are considered middle class.
As of 2022 (the most recent Census data), the average median household income in the U.S. was $73,914, meaning the national range for the middle class is roughly $49,271 to $147,828. Across the nation's largest cities, the range is between $51,558 and $154,590, according to SmartAsset.
The low-income category includes both the poor and the near poor.
The national median for living comfortably alone is $89,461, which suggests that a 50/30/20 budget might not be practical for most single people. Living alone comes with added costs that can be more than double what you'd spend if you lived with someone else — otherwise known as the “singles tax.”
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $105,000 | $8,750 |
| 75th Percentile | $68,500 | $5,708 |
| Average | $58,563 | $4,880 |
| 25th Percentile | $33,000 | $2,750 |
“Regarding the salary Americans should target to live comfortably, it's more complex than suggesting a one-size-fits-all number,” Stern stated. “A salary range of $80,001 to $95,000 is more reasonable for living comfortably, this aligns more closely with the reality in high-cost living areas.”
Most middle-class households earn around $80,000 a year. However, you could fall into this category if you make anywhere from $45,000 to $145,000 annually, according to H&R Block. Also See: How Big Is the Average Social Security Check of a Middle-Class Retiree?
What percentage of Americans make 150K?
| Income Bracket* | Percentage of Americans |
|---|---|
| $50,000-$74,999 | 16.2% |
| $75,000-$99,999 | 12.3% |
| $100,000-$149,999 | 16.4% |
| $150,000-$199,999 | 9.2% |
However, new research from GOBankingRates shows that in some major U.S. cities, an annual income of $150,000 is only enough to qualify as “lower middle class.” This is especially pronounced in two Northern California cities and Arlington, Virginia.
$30 an hour is how much a year? If you make $30 an hour, your yearly salary would be $62,400.
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $27.32 | $33.26 |
| Poverty Wage | $7.24 | $7.50 |
| Minimum Wage | $16.00 | $16.00 |
The national mean salary in the United States is $56,310 according to the National Compensation Survey. That works out to be $27 per hour. So in order to be above average, you have to earn more than $28 per hour. Why not be way above average and find a job that pays $30 more than the average hourly salary?
