How much you should make a year to be considered as a middle class in Indiana, take a clear look at the income levels that define the middle class in the state. For families in Indiana, being part of the middle class means earning between $42,360 and $173,156 annually, depending on family size. This article provides a detailed picture of these income ranges for different family sizes, from two-person households to families of four.
What is Middle Class?
The middle class, a term with varying definitions, typically refers to a social and economic group situated between the upper and lower classes. It encompasses individuals with professional qualifications, business owners, and skilled workers. Regarding income, the middle class in the United States is often identified as households earning between 75% and 200% of the median national income. However, it’s important to note that the definition of middle class can vary significantly from state to state and even city to city, reflecting differences in cost of living, median incomes, and economic conditions. This variability means that the income range defining the middle class in one area might not apply in another, making it a localized, as well as a national, concept.
What is Middle Class Income in Indiana?
Here’s a Quick Guide for Every Family Size: Curious to know about where your family fits in Indiana’s economic system. Find your income range that defines your status.
| Family Size: | Income Range: |
| 2-person family: | $42,360 to $126,448 |
| 3-person family: | $49,472 to $147,678 |
| 4-person family: | $58,007 to $173,156 |
Source: GoBankingRates
Income Tier Calculator
Average Income in Indiana by Age
| Age Group | Median Income |
| 15 to 24 years | $31,333 |
| 25 to 44 years | $76,734 |
| 45 to 84 years | $82,433 |
| 65 years and over | $48,309 |
What is Median Household Income in Indiana?
Understanding Indiana’s income statistics can provide a clear view of the state’s economic landscape:
- Median Household Income: According to the latest 2022 data, Indiana’s median household income stands at $67,173, slightly higher than Ohio’s, which is at $66,990, indicating a narrow income disparity between the two neighboring states.
- Average Household Income: The state’s average household income is noted to be $88,805, suggesting that higher incomes skew this average above the median.
- Per Capita Income: For an individual perspective, Indiana’s per capita income stands at $35,578, reflecting the average income earned by each resident.
- High-Income Households: A notable 6.7% of Indiana households fall into the high-income category, with annual earnings exceeding $200,000.
Source: US Census Bureau, incomebyzipcode
