Name: How Much Do You Need to be Upper-Middle Class? WSJ Reporter Explains
Uploaded: 2026-04-05T01:00:00Z
Duration: 2 min 39 s
Description: New research shows America’s upper-middle class is growing, while the country’s core middle class is shrinking. WSJ’s Rachel Louise Ensign explains the differences between the two groups.

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New research shows America’s upper-middle class is growing, while the country’s core middle class is shrinking. WSJ’s Rachel Louise Ensign explains the differences between the two groups. Photo Illustration: Ryan Trefes

https://m.wsj.net/video/20260403/107a4312-5760-43a6-8c90-16e8f43e8cf0/1/hls/manifest-hd-wifi.m3u8

New research shows America’s upper-middle class is growing, while the country’s core middle class is shrinking. WSJ’s Rachel Louise Ensign explains the differences between the two groups.

How Much Do You Need to be Upper-Middle Class? WSJ Reporter Explains

This graph shows something surprising about the middle class. The core middle class is shrinking from about 36% of the population in 1979 to about 31% of the population in 2024. But one analysis found that this is not because Americans are getting poorer. In fact, the share of Americans who are considered poor or lower-middle class is shrinking too. These economists think that the middle class is shrinking because Americans are actually getting wealthier. Take a look at the upper-middle class in this graph. You can see that from 1979 to 2024, the share of Americans in this group has roughly tripled from 10% to about 31% of the population. The analysis used the federal poverty line, which is about $26,000 for a family of three. If you earn between 500% and 1500% of this level, then you fall into the upper-middle class. So in 2024, that's between roughly $133,000 a year and $400,000 a year for a family of three. I spoke to one of the economists behind this research, Scott Winship, about what he found. Hi Scott.

Hi Rachel.

What does this mean for the economy broadly?

I think in all, you know, It's a good thing. Obviously, you know, if we were to sort of say what do we want from the economy over the next 50 years, at the top of that list would be we want, you know, people to have more purchasing power to be able to afford more things in life. So if you're working class today, if you are lower income than working class today, to be clear, you are much better off in terms of your income than the corresponding person in that situation was 50 years ago. But your incomes have not increased as much as those in the upper-middle class.

So I talk to a lot of families that fall into this upper-middle class group, and one thing that came up when speaking to them, and that's also come up in other stories, is that they don't necessarily feel rich. They're almost surprised to learn that they're in the upper-middle class. So you may be making $250,000 a year, which puts you well in this upper-middle class group. But if your kid wants to go to an elite college, it's a $100,000 a year. Those things make people feel very stressed about themselves financially, and like there's this major, really important thing that they can't afford, which doesn't really feel too upper-middle class.

News moves fast, and there's not always time to untangle the complex forces driving the day's biggest stories. WSJ Explains breaks down big market moves, business and economic trends, and scientific developments to help you stay ahead of the curve.