In South Carolina, the middle class income range for 2022 was $42,415 to $127,246. This range is often defined by economic studies as typically falling between two-thirds and double the median household income, adjusting for factors like cost of living.
The definition of "middle class" income can evolve over time due to inflation, economic growth, and changes in living expenses. For South Carolina, there has been a notable shift in these income thresholds over the past decade.
Middle Class Income Ranges in South Carolina
| Year | Minimum Income | Maximum Income |
|---|---|---|
| 2022 | $42,415 | $127,246 |
| 2012 | $29,749 | $89,246 |
This data highlights a significant increase in the income required to be considered middle class in South Carolina. Over the ten-year period from 2012 to 2022, the middle class income range in the state saw an impressive 42.58% change. This substantial growth reflects the economic dynamics and rising costs of living within South Carolina.
Understanding these income brackets can provide a clearer picture for residents to gauge their economic standing. For example:
- A household in South Carolina earning $70,000 annually in 2022 would be comfortably situated within the middle-class income range.
- Conversely, a household with an income of $150,000 in 2022 would exceed the upper threshold for the middle class, placing them in a higher income bracket.
These figures are essential for understanding the economic landscape and financial health of individuals and families across South Carolina.
