{"id":1479,"date":"2023-12-04T04:11:15","date_gmt":"2023-12-04T04:11:15","guid":{"rendered":"https:\/\/thrilltalks.com\/?p=1479"},"modified":"2024-03-23T20:49:41","modified_gmt":"2024-03-23T20:49:41","slug":"middle-class-income-in-new-jersey","status":"publish","type":"post","link":"https:\/\/thrilltalks.com\/middle-class-income-in-new-jersey\/","title":{"rendered":"What Consider a Middle-Class Income in New Jersey? (Calculator)"},"content":{"rendered":"\n

What is Middle Class?<\/strong><\/h2>\n\n\n\n

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\u2019s 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.<\/p>\n\n\n\n

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What is Middle Class Income in New Jersey?<\/h2>\n\n\n\n

How much you should make a year to be considered a middle class in New Jersey, take a clear look at the income levels that define the middle class in the state. For families in New Jersey, being part of the middle class means earning between $56,409 to $257,572 annually, again depending on your family size. The table below provides a detailed picture of these income ranges for different family sizes, from two-person households to families of four.<\/p>\n\n\n\n

Here\u2019s a Quick Guide for Every Family Size:<\/strong> Curious to know about where your family fits in New Jersey economic system. Find your income range that defines your status.<\/p>\n\n\n\n

Family Size:<\/strong><\/td>Income Range<\/strong>:<\/td><\/tr>
2-person family:<\/td>$56,409 to $168,384<\/td><\/tr>
3-person family:<\/td>$70,741 to $211,166<\/td><\/tr>
4-person family:<\/td>$86,287 to $257,572<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source: GoBankingRates<\/p>\n\n\n\n

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Use the Income Calculator<\/strong> to Get Accurate Range<\/h3>\n\n\n\n

Just follow these easy steps:<\/p>\n\n\n\n

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  1. Select Your Household Size<\/strong>: Click on the drop-down menu labeled ‘Household Size’ and choose the number of people in your household.<\/li>\n\n\n\n
  2. Choose Your State<\/strong>: Click on the drop-down menu labeled ‘State’ and select the state you currently reside in.<\/li>\n\n\n\n
  3. Enter Your Income<\/strong>: Click on the text box under ‘Household Income Before Taxes’ and type in your total household income before taxes.<\/li>\n\n\n\n
  4. Calculate<\/strong>: Once all the information has been entered, click the blue ‘Calculate’ button to see your income tier.<\/li>\n\n\n\n
  5. The results will give you a better understanding of where your household income stands on the income tier scale for your specific state and household size. please note that if you want to recalculate, you’ll need to click “Calculate” button again. <\/li>\n<\/ol>\n\n\n\n

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    Income Tier Calculator<\/h2>\r\n