GOBankingRates researched the 100 largest cities in the U.S. and found the median household incomes for those cities. The study then followed the Pew Research Center’s definition of middle-class income as “two-thirds to double” the median income of an area.
Cities’ lower middle-class range
Out of the 100 largest cities, Denver ranked No. 21 with the highest range to be considered lower middle class.
The income for the lower middle class in Denver ranges from $57,235 to $95,392.
For someone earning six figures in Denver, it doesn’t equate to much after factoring in the cost of living. GOBankingRates estimated total annual expenses for a Denverite making six figures to be around $51,581.05. After paying the taxes and bills, the six-figure earner would have about $22,716.95 left over.
This makes people who only edge into six figures just above the lower middle class.
It takes a lot more money to be considered anything above the lower middle class in the Mile High City. In Denver, making $95,000 a year isn't enough to break you out of the lower middle class, according to a new study – but it is close.
After paying the taxes and bills, the six-figure earner would have about $22,716.95 left over. This makes people who only edge into six figures just above the lower middle class. A middle-class income in Denver is anywhere from $54,700 to $163,000.
Where you rank by income. According to the Census Bureau's Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000. Lower-middle class: $30,001 – $58,020.
Put another way, if you're making less than $43,350 in your household, you are probably considered a low-income family. If you're making between $43,350 and $130,000, you're considered middle class. If you're earning $130,000 and above, you're likely considered upper class.
Is $70K a Year Considered Middle Class? According to the Pew Research Center, approximately half of U.S. adults are considered middle- class. Determining your income class as a single person earning $70,000 is a moving target depending on where you live.
The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau. 21 Using Pew's yardstick, middle income is made up of people who make between $43,350 and $130,000.
The median salary in Denver, CO is $66,516, with 80% of salaries falling between $34,800 and $143,550. Salaries in Denver, CO are generally above the national average.
In 2024, a large U.S. city's middle-class income averages between $52,000 and $155,000, with the median household income across all 345 cities at $77,345, making middle-class income limits fall between $51,558 and $154,590, SmartAsset noted.
What does this all mean? By the Census data, it means that if you earn between $50,000 and $150,000 a year, you are considered middle class. It's a pretty straightforward answer, but it isn't particularly helpful if you're trying to climb up out of a lower income bracket into the middle class.
Common occupation fields are semi-professionals, such as lower-level managers, small business owners and skilled craftsmen. These individuals commonly have some college education or perhaps a Bachelor's degree and earn a comfortable living.
Middle-income households – those with an income that is two-thirds to double the U.S. median household income – had incomes ranging from about $48,500 to $145,500 in 2018.
According to the census, the median household income in 2022 was $74,580. A living wage would fall below this number while an ideal wage would exceed this number. Given this, a good salary would be around $80,000 because, hypothetically, it leaves room for flexibility.
You may be able to live comfortably off $70,000, depending on where you live and how many people are in your household. If you're single and live in an area where the cost of living is below average, you can likely live well on $70,000.
How much does an Upper Class make in Denver, Colorado? As of Jun 9, 2024, the average annual pay for an Upper Class in Denver is $55,061 a year. Just in case you need a simple salary calculator, that works out to be approximately $26.47 an hour. This is the equivalent of $1,058/week or $4,588/month.
It takes a lot more money to be considered anything above the lower middle class in the Mile High City. In Denver, making $95,000 a year isn't enough to break you out of the lower middle class, according to a new study – but it is close.
According to the latest Census Bureau data from 2022, the median household income in the U.S. was $74,580. Based on that number, if you earn between $50,000 and $150,000 a year, you qualify as middle class.
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