Does South Dakota Middle-Class Income Compare to Minnesota, Iowa?
Every time you open up the mail you do so with paranoia. And, like you, I see the same bills with rate increases. Everything has or is going up. Did you see that your electric bill will be bumped by 16% after the first of the year?
Going to the grocery store is a crap shoot too. Not only higher prices but limited supply. In some cases substandard product quality.
Is anything going down in cost?
For middle-class America, stretching their dollars is more of a priority today. Posted by Yahoo Finance, the latest inflation data from the Bureau of Labor Statistics (BLS) showed there was a 7.7% increase in prices year over year. The BLS also found that the average hourly earnings have decreased by 2.8% compared to last year.
Currently, 52% of Americans are considered middle class. Here's how income levels compare.
South Dakota
2-person family middle-class income range: $45,763 to $136,606
3-person family middle-class income range: $51,908 to $154,948
4-person family middle-class income range: $59,443 to $177,442
Minnesota
2-person family middle-class income range: $52,135 to $155,628
3-person family middle-class income range: $63,777 to $190,380
4-person family middle-class income range: $75,671 to $225,884
Iowa
2-person family middle-class income range: $46,347 to $138,350
3-person family middle-class income range: $52,985 to $158,164
4-person family middle-class income range: $63,128 to $188,442