A six-figure income is no longer a ticket to financial comfort in parts of the United States. According to new research from fintech company MoneyLion, earning a salary of approximately $100,000 per year now qualifies as lower-middle class in 12 states.
The analysis, released earlier this month, highlights the growing impact of cost-of-living pressures on American households. In the seven highest-earning states—Massachusetts, New Jersey, Maryland, Hawaii, California, New Hampshire, and Washington—even an income well into six figures remains within the lower-middle-class bracket.
Massachusetts tops the list, where residents earning $116,476 annually are still considered lower-middle class. Other states where a $100,000 salary places workers in this category include Colorado, Utah, Connecticut, Alaska, and Virginia. In Virginia, the lowest-income state in the analysis, individuals can earn around $102,000 per year and still be classified as lower-middle class.
Economic Anxiety Amidst Inflation and War
The findings come as Americans express growing unease over the economy. Just 21 percent of Americans approve of President Trump's handling of inflation, according to a recent Reuters/Ipsos poll. This discontent contributes to an overall negative view of the president, with only 34 percent approving of his job performance—the lowest rating of his second term—while 64 percent disapprove.
Separate research from Gallup reveals that more Americans are worried about their finances than during the 2008 Great Recession. Approximately 55 percent of adults believe their financial situation is worsening, driven by inflation and elevated costs of energy, housing, healthcare, college, transportation, and childcare.
Gas Prices and the Iran War
The ongoing U.S. war with Iran has further exacerbated economic pressures, driving up gas prices nationwide. On Wednesday, the average price of a gallon of gasoline hit its highest level since the conflict began, nearly reaching $4.23, according to AAA.
The White House has downplayed the impact, with assistant press secretary Olivia Wales stating that the price spikes are temporary and will subside once traffic in the Strait of Hormuz normalizes. She emphasized that President Trump's actions have prevented Iran from obtaining a nuclear weapon, enhancing national security.
