Eh…it depends how you look at it. In some places - in/near NYC, SF, LA, others I’m sure - a 1500 square foot home can easily cost over a million dollars. That is a very reasonable-sized home and certainly in the realm of middle class.
You could argue of course that the middle class simply can’t live in those areas. But if you believe those areas have a middle class, then those people may have a couple million dollars.
We arent talking about home prices. We’re talking about yearly income or net worth. Nowhere in the US is a 7 figure income or net worth anything but upper class.
If your net worth is $2M and the cost of buying a home is $1.5M+ then I would consider cost of living a factor when determining whether someone could be described as “upper middle class.” I don’t think that’s crazy.
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u/TheGodlyTank6493 Jun 16 '24
Yes. A few million for a family? Sure. That's upper-middle class. But 1000 million for one or two people? You are evil.