Michigan: This Salary Makes You Middle Class
For years, people have placed themselves into classes such as upper, middle, working, and lower class. It’s a social hierarchy that’s defined by occupation, income, education, or social status. Recently, SmartAsset analyzed the U.S. Census Bureau’s 1-year American Community Survey data for the median household income in all 50 states, as well as the 100 largest U.S. cities.
When it comes to Michigan, the middle-class range for the state is $42,544 to $126,996. In places like Maryland, Washington D.C. and Massachusetts, it takes an annual income of more than $60,000 for households to be considered middle class.
While several cities ranked with the highest middle class ceilings others were lower by significant amounts. Detroit did rank high on the list but not for what you think. Below Cleveland, Ohio, Detroit is the second city with the lowest income limits for middle class. The income amounts for the upper and lower limits range from $24,214 to $71,124.
According to the study, salaries in northeastern states are about 20 percent higher than those in southern states, even when the cost of living is considered.
In the northeast, many middle-class salaries fall between $60,000 to $170,000. However, many southern middle-class salaries are between $35,000 to $100,000.
Also, the study shows that you are considered middle class even if you make $310,000 in California. They mentioned that middle-classoh status is the hardest to attain in tech cities like San Francisco, Fremont, Seattle, and San Jose.
Which Michiganders Are Billionaires?
Forbes recently dropped their 37th Annual World’s Billionaires List. It features a list of the wealthiest people in the world. They say there’s a total of 2,640 billionaires in the world. Over 730 billionaires reside in the United States. These billionaires have made their money from manufacturing and food to grocery stores and mortgage lending.
On this year’s list, Forbes added some newcomers. Elisabeth DeLuca, the widow of Subway cofounder Fred DeLuca and Annette Lerner who started a real estate company are new billionaires. Fun fact about Lerner: in 1952, she loaned $250 to her husband, Ted to start a real estate company, selling homes for developers.
Also, this year’s list had some major changes compared to past lists. According to Forbes, the number of billionaires around the globe has declined from 2,668 in 2022 to 2,640 this year. They also said that the total billionaire wealth has dropped down by $500 billion to $12.2 trillion. A total of 254 people have lost their billionaire status altogether including Sam Bankman Fried, his FTX cofounder Gary Wang, and musician Kanye West.
Overall, most of the Forbes list of the World’s Billionaires are self-made. “Meaning they founded or confounded their company or established their own fortune, rather than inheriting it,” said Forbes.
When you think about Michigan billionaires, a few names might come to mind such as Dan Gilbert or Marian Ilitch. There are more billionaires in Michigan than you think.
Here are Michigan’s billionaires.
Kayla is the midday host on Detroit’s 105.1 The Bounce. She started her career in radio back in 2016 as an intern at another Detroit station and worked her way here. She's made stops in Knoxville, TN, Omaha, Ne and other places before returning to Detroit. She’s done almost everything in radio from promotions to web, creating content on social media, you name it.
She’s a true Michigander, born and raised. So, you can catch her camping or vacationing up north to exploring the downtown Detroit or maybe even catching a sports game. During her free time, Kayla enjoys watching movies, roller-skating, crafting, and music festivals. She and her husband together dip into many of the great things Michigan has to offer. Together they also like to travel.
A few hobbies of hers include wine and beer tastings, crafting, hiking, roller skating, movies, home improvement projects, gardening, and festivals. She’s always looking to take on more local events happening in the community.
She loves connecting with the community. When writing, Kayla covers topics including lifestyle, pop culture, trending stories, hacks, and urban culture.
