In 12 US states, earning around $100,000 a year now qualifies as lower-middle class, according to new research from fintech company MoneyLion. The findings highlight the impact of inflation and rising costs on household incomes.
Massachusetts tops the list, where an income of $116,476 is considered lower-middle class. Other high-earning states include New Jersey, Maryland, Hawaii, California, New Hampshire, Washington, Colorado, Utah, Connecticut, Alaska, and Virginia. In Virginia, the lowest-income state in the analysis, earning $102,000 still places individuals in the lower-middle class.
The report comes amid widespread economic unease. A recent Reuters/Ipsos poll found only 21% of Americans approve of President Trump's handling of inflation, contributing to an overall approval rating of 34%, with 64% disapproving—the lowest of his second term.
Separate Gallup research shows 55% of adults believe their financial situation is worsening, driven by high costs of energy, housing, healthcare, and food. Gas prices have also risen, with the average gallon hitting nearly $4.23, the highest since the war began.
The White House has downplayed the price spikes, with assistant press secretary Olivia Wales stating that energy prices will fall once traffic in the Strait of Hormuz normalizes. She attributed current disruptions to short-term factors related to Iran.
