- A study released in November by SmartAsset, a financial technology company, found the states where America’s middle class is thriving the most.
- The study analyzed home values, incomes, jobs, taxes, and homeownership.
- Of the top 15 states, seven are located in the Midwest.
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For middle-class families in the US, some states are more financially comfortable to live in than others.
A study released in November by financial technology company SmartAsset analyzed home values, incomes, jobs, taxes, and homeownership in each state to find where the middle class is thriving. Though there are many different definitions of what the term “middle class” means, Merriam-Webster defines it as “a class occupying a position between the upper class and the lower class.“
For the purposes of this study, SmartAsset considers middle class household earnings to be between $35,000 and $100,000. The results show that the middle class is the strongest in the Midwest. In fact, seven of the top 15 states on the list are in the Midwest.
In order to compile the final ranking, SmartAsset looked at seven factors in all 50 states and the District of Columbia and weighted them equally. These factors include: the percentage of households in the middle class in a given state, the change in median household incomes from 2014 to 2018, the median home value, the homeownership rate, the statistical measurement of income inequality, and job growth from 2014 to 2018 in jobs that earn an average annual income between $30,000 and $70,000.
Keep reading to see which states are the best for America’s middle class, according to SmartAsset.