This is how much you need to earn in NJ to be middle class

You hear a lot about the “middle class” and what’s being done or not done for people in that group. But who, exactly, is in that cohort?

As quoted in an article by GOBankingRates.com, the Pew Research Center defines middle class pretty broadly, including people who earn two-thirds of the US median income up to those whose income is double the U.S. median.

Since the cost of living and average income vary from state to state, families who are middle class in one state might not be in a different state.

How much do middle-class families earn?

GOBankingRates analyzed data from the U.S. Census Bureau's 2019 American Community Survey to determine how much two-, three- and four-person families need to earn in every state to qualify for this classification.

So, what income is necessary to be considered middle class in New Jersey? Here it is:

• 2-person family middle-class income range: $56,409 to $168,384

• 3-person family middle-class income range: $70,741 to $211,166

• 4-person family middle-class income range: $86,287 to $257,572

What about in New York?

For our neighboring states, things aren’t exactly the same as ours; believe it or not, you can make a little less and still be middle-class in New York:

• 2-person family middle-class income range: $48,674 to $145,296

• 3-person family middle-class income range: $57,889 to $172,802

• 4-person family middle-class income range: $70,331 to $209,944

Middle-class in PA

In Pennsylvania, it takes even less to be middle class:

• 2-person family middle-class income range: $45,202 to $134,932

• 3-person family middle-class income range: $56,004 to $167,176

• 4-person family middle-class income range: $67,667 to $201,990

Looking to buy or sell a home? Here's what properties are fetching in New Jersey.

How much does the average NJ home cost? Median prices by county

Everything is costing more these days — and housing is certainly no exception in New Jersey.

Data for 2023 from January through May, compiled by New Jersey Realtors, shows that homes hit the market and sell in two months or less, on average.

Median prices for single-family homes have reached $500,000 and above in nine counties.

Most counties have seen houses go for more than the list price this year, while the rest have been very close to asking — on average.

Gallery Credit: Erin Vogt

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Bill Doyle only.

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Categories: Ultimate New Jersey