What percentage of the US is made up by the upper class?

WASHINGTON, D.C. -- Fifty-four percent of Americans identify as part of the middle class, including 39% who say they are “middle class” and 15% “upper-middle class.” Another 31% consider themselves “working class” and 12% “lower class.” Just 2% of U.S. adults characterize themselves as “upper class.”

Which of the US classes is known as the top 1%?

The American upper class is a social group within the United States consisting of people who have the highest social rank, due to economic wealth, lineage, and typically educational attainment. The American upper class is estimated to be the richest 1% of the population.

What income level is considered upper class?

Upper middle class: Anyone with earnings in the 60th to 80th percentile would be considered upper middle class. Those in the upper middle class have incomes between $89,745 and $149,131. Upper class: Finally, the upper class is the top 20% of earners and they have incomes of $149,132 or higher .

Are doctors upper-middle class?

Most people in the upper-middle class strata are highly educated white collar professionals such as but not limited to physicians, dentists, lawyers, accountants, engineers, military officers, economists, business analysis, urban planners, university professors, architects, stockbrokers, psychologists, scientists, ...

What percentage of Americans are wealthy?

The top 1% of American earners now control more wealth than the nation's entire middle class, federal data show. More than one-quarter of all household wealth, 26.5% , belongs to Americans who earn enough money to rank in the top percentile by income, according to Federal Reserve statistics through mid-2023.

What population is upper class?

In the United States, those who lived—and continue to live—in leadership roles in society are often considered part of the upper class. These are people whose status has been passed down through generations. According to a 2018 study by Pew Research Center, 19% of American adults were part of upper-class households.

What class is the majority of America?

Working class majority Seen from a sociological perspective based on class-cleavages, the majority of Americans can be described as members of the working class.

Is the top 1% more than the middle class?

160% The wealth of the top 1% continues to outpace that of the entire middle class. The top earners hold more wealth than the middle and upper-middle classes put together . There are various reasons for the disparity, but one important factor is outsized stock ownership among the richest Americans.

The 30 US cities that have been 'taken over' by the upper classes (2024)

America's upper classes are swelling despite record-high living costs, new research has found.

The proportion of US households considered upper class shot up from 14 percent to 21 percent between 1971 and 2021, according to figures from the Pew Research Center.

It means traditionally blue-collar cities are now being 'taken over' by affluent families earning $150,000 and above.

GOBankingRates analyzed all US cities with more than 40,000 households to find where the proportion of upper-class residents has risen most.

Its findings show more than 50 percent of America's wealthiest cities are in California.

By comparison, states such as Nevada, Virginia, Idaho, Texas and Arizona each had just one city to make the list.

GOBankingRates analized all US states with above 40,000 households from 2022 American Community Surveys conducted by the United States Census Bureau

US residents are finding themselves in lower—and upper-income tiers, which has steadily increased over the year

But it was Texan town Lewisville which saw the biggest change.

Some 20.8 percent of 48,725 households were upper-class in 2022, up from 8.8 percent in 2017.

It means over five years it has seen its number of upper-class households rocket by 135.56 percent.

The city, which sits in the Dallas Fort-Worth metroplex, is perhaps most famous for its 29,000-acre reservoir the Lewisville Lake - known as the 'urban bass fishing capital of Texas.'

More than half of the Texas home mortgages had rates less than four percent, according to Federal Housing Finance Agency data

Home prices in Washington were up by over six percent compared to 2023, selling for a median price of $657,700

The median sale price of homes in the city is $412,000, according toRedfin.

It was followed by Bend, Oregon, which has seen its proportion of upper-class households shoot up by 136.27 percent.

Read More The five property COLD spots where buyers can get huge bargains

Homes in the area, known for its expansive hiking trails, typically sell for $750,000, Redfin notes.

Among the 17 Californian cities to feature on the list include: Oakland, Anaheim, Oceanside and Oxnard.

California is the wealthiest state in the US, with its net worth totaling $6 trillion - or around $160,000 per resident.

Santa Ana ranked highest of the Californian cities in the study, coming in at number three.

The proportion of its 77,553 households to be considered upper-class was nine percent in 2017.

By 2022, this had increased to 21.2 percent.

The data compiled earlier this year by GOBankingRates concluded that more than 50 percent of America's wealthiest cities are in California

The 2023 housing market crash affected resulted in a 42 percent two-year drop in California home sales

GoBankingRates calculated the five-year percentage increase was 135.56 percent.

The increase in upper class households is surprising as Americans continue to battle red-hot inflation and record-high interest rates.

The rate of annual inflation is currently hovering at 3.3 percent, according to figures from the Bureau of Labor Statistics from May.

In response to rising prices, the Federal Reserve has embarked on an aggressive tightening cycle which has sent its benchmark funds rate to a 22-year-high of between 5.25 percent and 5.5 percent.

In theory, higher interest rates are intended to dampen consumer spending and bring prices down.

The Fed's funds rate has a knock-on effect on interest rates offered to consumers on their mortgages, car loans and credit cards.

Figures from Government-backed lender Freddie Macshow the average rate on a 30-year fixed-rate mortgage is currently 6.95 percent.

Lewisville, Texas

Total households in 2022: 48,725

Upper-class households in 2017: 8.8%

Upper-class households in 2022: 20.8%

The 30 US cities that have been 'taken over' by the upper classes (2024)

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