Yahoo Finance Arizonan Income: How Much to Be Poor, Middle Class or Rich in the Grand Canyon State
Are you poor, middle-class, or rich in Arizona? The answer will completely depend on where you live in the Grand Canyon state.
Check Out: Here’s How Much You Need To Earn To Be ‘Rich’ in Every State
Learn More: 5 Genius Things All Wealthy People Do With Their Money
Definitions of Economic Classes
Middle class is defined by the Pew Research Center as annual income between two-thirds and double the national median income (adjusted for household size). We can extrapolate that poor falls on the lower side of this range, and rich on the higher side.
The US Census Bureau puts the national median income at $74,580 for 2022 (the most recently published statistics). That makes the national middle class between $49,720 and $149,160.
However, the economic class you fall in may change as we look at more local statistics. For the state as a whole, Arizona’s poverty income is $15,059 annually, while living wage is $48,672 (for one adult with no children).
That means earning the following would place you in the following class state-wide:
Poor – $15,000 to $48,500
Middle class – $48,501and $97,300
Rich – $97,300+
You May Not Be Middle Class in Arizona, Even with a Six-Figure Income
Diving deeper into Arizona’s cities, some stand out as far more expensive than others. Three Arizona cities actually rank in the top 25 list of high-cost cities.
Lower-middle class in these cities means you earn:
Chandler, AZ – $66,249 to $110,416
Scottsdale, AZ – $69,465 to $115,774
Gilbert, AZ – $76,786 to $127,977
In Chandler, Scottsdale, and Gilbert, the amount of money you must earn to be middle class is significantly higher than the national median income. A six-figure income is essentially the baseline to be recognized as middle class. This is because housing in these areas costs 42% to 66% more than the national average.
Arizona Cities Where Lower Incomes Are “Middle Class”
However, there are also much cheaper places to live in Arizona. These cities have much lower minimum income levels to be considered middle-class.
Tucson, AZ – $34,184
Glendale, AZ – $48, 269
Phoenix, AZ – $50,641
Tempe, AZ – $50, 666
Mesa, AZ – $52,992
Read Next: How Much Does the Average Middle-Class Person Have in Savings?
Most of these cities are in the Phoenix metro area, which has denser housing at more affordable prices.
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This article originally appeared on GOBankingRates.com: Arizonan Income: How Much to Be Poor, Middle Class or Rich in the Grand Canyon State
