The following is from Gallup.
STORY HIGHLIGHTS
- U.S. adults’ average estimated income necessary for family of four is $85,000
- 2023 estimate is up from $58,000 in 2013
- High earners’, Easterners’ estimates are higher than others’
WASHINGTON, D.C. — Americans, on average, estimate that a family of four needs a minimum income of $85,000 annually to “get by” in their community, marking a considerable increase from a decade ago. The past decade has witnessed not only an increase in the average income required but also a notable shift in the upper range of income expectations.
During that time, the proportion of Americans who believe that a family needs more than $100,000 to get by has tripled to 30%, while 18% now estimate it to be between $75,000 and $99,999, and 31% think it is $50,000 to $74,999. Half as many Americans now as in 2013 believe a family of four can get by on less than $50,000 annually. This includes 3% who estimate a figure lower than $30,000, and 11% who cite a figure between $30,000 and $49,999.
The latest average of $85,000, from an April 3-25 Gallup poll, is notably higher than the federal poverty line for a family of four, which is currently $30,000.
In 2013, the average estimate was $58,000, and the federal poverty line for a family of four was $23,550. Accounting for inflation and the subsequent change in purchasing power, Americans’ 2013 estimate translates to $75,668 in 2023 dollars. Their 2023 estimate therefore reflects an increase of about $9,000 in perceived family needs beyond what inflation alone would account for.
Higher-Income Respondents Believe Families Need More
Americans’ perceptions of the minimum income a family of four needs are influenced by their own financial circumstances. Specifically, those with an annual household income of $100,000 or more project $100,000, on average, as necessary for a family to get by. Middle-income respondents, those with between $40,000 and $99,999 in annual income, estimate a family needs about $80,000. Meanwhile, those earning less than $40,000 believe an income of about $66,000 suffices.
Eastern, Suburban Residents Give Higher Estimates
Geographical location also influences Americans’ perceptions of the income needed for a family of four to get by. Notably, residents in the Eastern U.S. estimate, on average, that families need an income of about $98,000, which is significantly more than the estimates from other regions. Residents in the Midwest have the lowest estimate, saying families need an average income of $76,000. These regional differences likely reflect variations in cost of living, housing prices and wage levels.
Similarly, Americans’ views on the minimum income for a family of four are influenced by their urbanicity. Those residing in cities (about $87,000) and suburban areas ($91,000) project a higher required income for a family of four than those living in towns or rural areas ($78,000).
These findings are similar to those from 2013, when Eastern and suburban residents’ estimates of what a family of four needs to get by were substantially higher than those given by people in other regions or urbanicities.
Bottom Line
The rise in perceived necessary income to support a family of four highlights the economic pressure facing American households as high inflation stretches into a second year.
There is a diversity of socioeconomic realities across various population segments and geographic locations. Notably, individuals residing in urban and suburban areas, as well as those with higher incomes, tend to estimate a higher necessary income for a family of four. These patterns might reflect their cost-of-living circumstances as well as differences in perceptions of need and evolving lifestyle aspirations.
The increasing estimate of required income may also be linked to the rise in two-income families. Americans’ average estimate for getting by sits at $85,000, an amount more likely to be reached only in families with dual incomes, further emphasizing the changing economic dynamics of American households.
See the charts by Gallup at this link:
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In 2013 no one had $1000 cell phones (x4 family members) and $100+/month ph bills. No one had 2, 3, 4 streaming services. Younger generations travel the world more than we ever did, purchase NEW vehicles, and larger homes. (My 1st trip fr home was to Texas at the age of 18 to boot camp) We’re choosing to live the “high life”, beyond our means, simply becuz we can as credit is extended. The house of cards will tumble down at some point.
What might save us is that some of the younger generation is returning to the simpler life of homesteading, self reliance, and a resurgence in Christanity, as my niece and her family have done.
I cannot escape inflation even when I try to reduce my spending. Car repairs, gas, food, utilities take a greater share out of my income than ever. It is not unreasonable to expect a share of the affluence the country produces when you see a small segment of society embellish their mansions.
Martina Lauer,
F Y I :
Re : R O O T Cause
Students are unprepared because
MARXIST social-engineers are in
every agency !—every venue of
COMMUNICATION, and in your
home, via TV.
I had asked, in 1963 : What power
is capable of engineering – Western-
world-wide !!! – gradeless classes;
student-run school administrations;
savage-like Rock music and dance
( the “Mr. Wizard” program, aired
every weekday afternoon, had
televised science experiments, when,
without any notice, local “Dance Band”
replaced him—which display had me
turn down the volume and be humored
by kids’ flailing arms and legs, remov-
ing any GRACE and INTIMACY and
RESPECT between boys and girls,
there ); sociology professors asking
students to bring PORN magazines
to class and exchange them—then
to be discussed; college dorms intro-
ducing mixed-sex dorms—then, on
the same floor !, as if there really would
NEVER be any hot-sex couplings;
sex-as-fun, rather than SACRED ( 5,O00-
years sacred in human history ), and
VITAL for grooming GOOD MENTAL
HEALTH in children; and . . . ?
Every white nation in the West had
been assaulted by Libertine Leftism—
at the EXACT same time ! And not one
conservative pundit raised that as an
EXTREMELY important FACT to
question—to ask political movers and
shakers how/why that had happened.
The “Who?” being even more vital :
Rothschild / Illuminati Banking House,
this scribbler has discovered, which
cabal of evil-doers is about to collapse
America into extreme hardship and
want ( read third post in here ) :
https://stateofthenation.co/?p=91290
First two posts are mine, and mis-attributed
by the editor.
-Rick
Selfish leaders ! Selfish generation ! Selfish 21st century ! Selfish you will destroy yourself by yourself ! Everywhere what is happening is nothing but deliberate evil action by the secret societies. What does it benefit a man if he gains the whole world yet at the end looses himself.??? So what you are a prime minister !!! So what you’re the president !!! So what you are a king !!! So what hat you are a church leader !!! STOP ENSLAVING PEOPLE ! And enough lies ! Enough lockdown !! This is slavery ! And enough so called CORONA ! It can be treated quite easily with proven medications, not untested so called experimental Covid Vaccine done by evil intentions. Let bill gates jab himself with it, let the Rockefeller jab themselves with it, let the Rothschild jab themselves with it, let Klaus Schwab jab himself with it, let George Soros jab himself with it, Enough stupidity !!!! Enough !!!! Stop forcing people to take Vaccination because of safety measures. Get a life. Your so called PCR testing kits are fraud. Your statistics are a fraud, the world health organisation are a fraud. NIH Anthony Fauci is a fraud. Is there anyone’s among you to be a man to stand up and speak the truth, even if it takes them to be kicked out ,!!! Is there ???? Are you all cowards ??? Has money blinded you ?