Though middle-class households are pinching their pennies, they still desire homeownership as a means to increase personal wealth, according to a new study by personal finance resource SmartAsset. Researchers looked at the states in which the middle class is the strongest financially, factoring in housing costs, incomes, and job growth, among other criteria.
The middle class is defined as households who earn between two-thirds to double the national median household income, often between $35,000 to $100,000, the study notes. The Midwest has the highest number of residents meeting the middle-class cost-to-income threshold and includes six of the top 10 states for middle-class residents in 2019: Iowa, Nebraska, Indiana, South Dakota, Wisconsin, and Minnesota.
Source: “Best States for the Middle Class: 2019 Edition,” SmartAsset.com (Nov. 13, 2019)
