Here are the income levels that qualify Alabamians as middle class: 2-person family middle class income range: $37,172.94 to $110,964. 3-person family middle-class income range: $42,604.63 to $127,178. 4-person family middle-class income range: $52,438.89 to $156,534.
What is considered a good salary in Alabama?
While ZipRecruiter is seeing salaries as high as $130,735 and as low as $17,944, the majority of salaries within the Average jobs category currently range between $42,296 (25th percentile) to $64,085 (75th percentile) with top earners (90th percentile) making $85,447 annually in Alabama.
What is upper middle class in Alabama?
What the study found is the cost of living varies significantly from state-to-state with the bottom threshold for being middle class as low $15,165 and as high as $41,532 . On the other end, the upper range of middle class earners are as low as $148,210 and as high as $295,250.
What income is considered upper class in Alabama?
Alabama’s wealth threshold is $88,984. The state is tied with Arkansas for the fourth-lowest cost of living of all states and it’s also one of the places where you can get a larger home for less than $300,000 – the median price of a top-tier home in Alabama is $246,400.
What is a decent middle class salary?
In 2018, the national middle-income range was about $48,500 to $145,500 annually for a household of three. Lower-income households had incomes less than $48,500 and upper-income households had incomes greater than $145,500 (incomes in 2018 dollars).
How much do you need to live comfortably in Alabama?
Alabama comes in on the low end of the scale. You’ll need $39,920 a year, or $3,326 a month, to afford the median rent in Alabama ($998) and adhere to the 30 percent threshold guide. That’s the 48th lowest salary needed in the U.S., behind only Arkansas ($38,120), Oklahoma ($38,000) and West Virginia ($35,520.)
How much does it cost to live comfortably in Alabama?
The Bureau of Economic Analysis cites that the average cost of living in Alabama is around $35,859 per year for a typical single individual.
Average Cost of Living in Alabama: $35,859 per year.
| Category | Average Annual Per-Capita Cost in Alabama |
|---|---|
| Housing and Utilities | $6,535 |
| Health Care | $5,904 |
What is the average family income in Alabama?
The following data are the most current income statistics for Alabama from the US Census Bureau, are in 2020 inflation adjusted dollars and are from the American Community Survey 2020 5-year estimates. Median Household Income: $52,035. Average Household Income: $71,964.
What is considered lower-middle class in Alabama?
Here are the income levels that qualify Alabamians as middle class: 2-person family middle class income range: $37,172.94 to $110,964. 3-person family middle-class income range: $42,604.63 to $127,178. 4-person family middle-class income range: $52,438.89 to $156,534.
What is considered low income in Alabama?
Alabama is the fifth poorest state in the U.S., and 16.8% of Alabamians live below the federal poverty threshold – a noticeably larger percentage than the national average of 13.1%. The federal poverty thresholds range from $12,784 for one person to $25,701 for a family of four.
Is 100k a year good in Alabama?
In Alabama, a single filer earning $100,000 a year would take home roughly $72,506. A married filer would bring home $79,215. “In Alabama, residents are allowed to deduct their federal income taxes, helping keep the state in the bottom half of taxes owed across the U.S.,” GoBankingRates.com noted.
What is the richest part of Alabama?
Mountain Brook is being credited as the richest town in the state of Alabama. Stacker.com compiled a list of the richest towns in all 50 U.S. states, which lists Mountain Brook as having a median household income of $152,355 (112.8% more than the U.S. median income).
What is the average yearly income in Alabama?
Table
| Population | |
|---|---|
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 25.2 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $52,035 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $28,934 |
Is 100k a year middle class?
The bottom line is: $100,000 is on the middle-class spectrum, but barely: 75 percent of U.S. households make less than that. Others prefer to define middle class by the lifestyle you can afford.
Can a family of 4 live on $60000 a year?
A family of 4 needs a minimum of $50,000/year to live modestly but comfortably. However, location and lifestyle choices will impact that significantly. In expensive states like California or New York, expect that number to be 2-3 times higher.
What is a good salary for a 50 year old?
What was the average and median income by age in 2021?
| Age | 25% | Average |
|---|---|---|
| 49 | $30,000.00 | $75,458.16 |
| 50 | $31,000.00 | $81,711.22 |
| 51 | $30,000.00 | $75,777.31 |
| 52 | $30,015.00 | $80,279.55 |
What is a teacher salary in Alabama?
The average salary for a teacher is $14.94 per hour in Alabama. 285 salaries reported, updated at July 28, 2022.
What is the cheapest city in Alabama to live in?
Gadsden. Gadsen tops our list of the most affordable cities in Alabama.
What is the average cost of a house in Alabama?
According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Alabama is $175,586, lower than the national average.
Is it cheaper to live in Al or Fl?
Alabama is 3.1% more expensive than Florida.
Why is it so cheap to live in Alabama?
Sales Tax. Another money-saving bonus to living in Alabama is the low sales tax of just 4%. This makes Alabama one of the more tax-friendly states in the nation. State income tax is also pretty low at 2.5%.