GoBankingRates evaluated whether the middle class can afford the American Dream

The income needed to be middle class in every US state

Depending on the US state you live in, the household income needed to be considered "middle class" can vary from only $36K per year to $200K per year. It's more expensive to be considered middle class in states like Massachusetts and New Jersey than it is in West Virginia or Mississippi. See these numbers in a data visualization here.

Calculate whether or not you're in the American middle class

In 2022, roughly 52% of US adults lived in middle-income households. This income calculator can help you determine whether or not you're one of them. Specifically, the calculator lets you enter your household income, location, and more to see where you line up in Pew's government data.

Some say a $100,000 salary can’t buy the American dream

According to a 2023 survey, 52% of Americans said they would need to earn at least $100,000 a year to be financially comfortable. However, for a family of four, that's not enough money to achieve the American dream (having a degree of economic security) in any of the 50 states.

The American Dream costs more than $4M

The estimated cost of the American Dream—including buying a house, yearly vacations, retiring, raising two children, getting married, and more—is $4.4M, according to recent data from Investopedia. This illustrated graphic shows the estimated cost of the American dream per household over the course of their lifetime. See it here.

The insane growth of America's millionaire class

The average net worth for an American household is now $1M, according to 2024 data from the Federal Reserve. How did being a millionaire—a word that was once a status symbol—become the norm? This article answers that question and more, such as what the average millionaire's assets look like in detail. Read the article here.

It takes an average of 14 days of work to afford a monthly mortgage in the US

This map of the US shows the number of eight-hour workdays it would take to afford a monthly mortgage payment in each state. Specifically, the calculations are based on median hourly wages in each state, as well as a 30-year mortgage, 5.8% mortgage rate, and a 6% down payment.

The average American household spends $6,545 per month

While the median household income is $84K, the typical bank account balance is $8K.

Visualize America’s retirement savings by age

The median retirement savings for Americans was $87K as of May 2024. Some financial experts might find that number concerning, since a recent Northwestern Mutual survey found that $1.46M is the ideal retirement savings target. A graphic shows the current averages and medians broken down by age group.

A third of Americans don't have the cash they need to cover a $500 emergency

That's according to a 2023 Federal Reserve survey. So what does the average American in this camp do when, say, their car breaks down? This video compares six of the most common ways Americans get money when they don't have it. As it turns out, some of them opt for payday loans, which this video argues are predatory.

Warren Buffett's advice for middle-class investors includes "pay yourself first"

Warren Buffett might not be part of the middle class himself (he's one of the richest people in the world), but he still knows a thing or two about everyday personal finance tips. This article chronicles his six best pieces of advice for the middle class.

Roughly 75% of Americans report feeling okay financially

Since 2022, fewer Americans report feeling worse off financially, moving from 35% in 2022 to 28% in 2025. Likewise, the number of Americans who reported feeling better about the economy is up 4% from 2022. More than 90% of Americans cite price increases as their biggest financial concern.

The Federal Reserve Bank of Atlanta provides a monthly measure of home ownership affordability

Specifically, the Home Ownership Affordability Monitor shows a monthly measure of the median-income household's capacity to afford the median-priced home at the national level, the metro level, and more.

Read how Fordism helped invent the American middle class

Henry Ford's revolution of the assembly line and American manufacturing as a whole gave rise to the American middle class. The introduction of the $5 workday (in exchange for eight-hour days of highly repetitive work) raised factory workers' wages enough to reorient the economy around consumer demand.

Renting versus owning a home, charted by age

One-third of American households are rented. The other two-thirds are owned or in the process of becoming owned, according to 2022 data from the American Community Survey. While most people rent in their younger years, homeownership rates tend to fluctuate based on age. To see home ownership and renter rates charted by age, check out these charts.

US child care costs, mapped

It's no secret that child care in the US is expensive, but this map provides more color to that observation by showing the average annual price of child care in licensed child care centers for infants, by state, in 2023. South Dakota, for instance, had the lowest infant child care cost at $7,862 per year. See how the rest of the states fared here.

Explore a college affordability and transparency guide

From the US Department of Education, this portal provides everything you need to evaluate colleges. The college scorecard provides handy data on every school, from graduation rates to annual average earnings out of school, while the net cost calculator directs you to each school's calculator that allows you to estimate the cost of college based on your unique circumstances.

Fewer middle-class students now attend private schools

Stanford professor Sean Reardon says there are two primary reasons behind this trend. The first is that many parochial schools, which tend to offer more affordable tuition, have closed. The second is that tuition for the remaining private schools has outpaced middle-class salaries.

College majors ranked by median resulting student debt

As of 2023, student loans were the third-largest category of US household debt at $1.6T. But not all student debt is created equal. Statistically, some majors incur more debt than others. Behavioral science majors, for instance, had the highest median student debt as of 2022.

US state economies compared to entire countries

This map compares US state economies by their gross domestic product to that of a similarly sized country. For instance, California has the largest state economy in the US, with a GDP nearly equal to that of India, the fifth-largest economy in the world. Click here to see how the rest of the states compare.

Ray Dalio argues that American capitalism is broken, citing economic factors like a growing wealth divide

Dalio also points to stalling income growth, weak healthcare systems, and poor educational outcomes when arguing that American capitalism needs serious reform. However, critics point out that Dalio has amassed a large fortune by running the world's largest hedge fund and question whether Dalio really wants economic reform.

Only 28% of Americans think restaurant prices are fair

Seven in 10 Americans dine out at least once a month, but only 28% of diners think menu prices are fair, a 2025 YouGov survey found. That changes only slightly by income, with 44% of higher-income Americans finding the prices fair.

Check out America's happiest places to live

Where are the best overall places to live in the US? This list focused on finding the happiest towns in America, given the ongoing reconsideration of how people want to live and work in the post-pandemic world. The selection process involved...

Some argue that credit reporting promotes economic inequality in the US

Although today's credit scoring system is much more objective than, say, the credit assessment system of the 1700s, some argue there's still room for improvement, with critics saying the current system is still discriminatory. For example, while mortgage payments have long been automatically reported to credit bureaus, rent payments (the primary housing expense for most lower-income Americans) historically haven't been reported unless a payment was missed.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

'Planet Money' debates the financial indicators that defined 2025

In this end-of-year episode, "Planet Money" stages a playful debate over which economic indicators best captured the chaos of 2025—from tariffs to AI bubbles—and which signals may matter most as the US economy heads into 2026.

States with the highest (and lowest) tax rates

WalletHub researchers evaluated not just income taxes but real estate, sales, and other levies in order to rank every state by its total effective local and state tax rate (not including federal). Alaska scored the lowest total tax rate and Illinois...

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

Explore an interactive map built from more than 100,000 survey responses on where people find joy in their lives

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Researchers believe the brain consolidates memories, processes emotions, and plans for the future during dream states

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

In 2009, the nation was gripped by the story of a missing young boy who was believed to be floating over Colorado in a homemade balloon, until it was revealed that he was at home the whole time.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

The 19th-century painters of the Hudson River School were among the first American romantics, with portraits that displayed the natural beauty of the young country.

See how Budweiser's famous Clydesdales spend their days at Warm Springs Ranch, where roughly 70 to 80 of the beer brand's giant horses can be found at any given time.

The American cockroach is actually from Africa, an apparent hitchhiker aboard ships carrying enslaved people, with evidence suggesting the bug may have arrived in the New World as early as the 1600s.

'Saturday Night Fever,' the 1977 film that introduced disco to the mainstream, was based on a fabricated magazine story.