Table
| Population | |
|---|---|
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 24.3 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $59,489 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $33,774 |
What income is middle class in Maine?
The middle class is defined as making around $44,000 to $131,000 for a two-person household, $53,000 to $159,000 if you have three people in your home, and for a four-person household, it’s $63,000 to $187,000.
What is the average monthly income in Maine?
Average Salary in Maine
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $82,658 | $6,888 |
| 75th Percentile | $67,963 | $5,663 |
| Average | $58,014 | $4,834 |
| 25th Percentile | $45,462 | $3,788 |
What is considered middle class Maine?
(The Center Square) – In Maine, households must earn a minimum of $25,701 per year to be considered middle class, with the upper earnings boundary set at $111,898, according to a new 24/7 Wall St. analysis. The total share of household income in Maine controlled by middle-class earners is 47.6%, 24/7 Wall St. reports.
What is the average per person income?
The average gross annual wage per full-time employee in the USA was $69,392 in 2020, or around $5,783 per month ($3,789/year more than in the previous year).
What is considered wealthy in Maine?
In Maine, you need net assets of at least $1,508,803 to make the wealthiest 1%. That fortune places Maine No. 39 in a ranking of states according to the highest minimum amounts, just below Ohio but edging out North Dakota.
What is upper class in Maine?
And to be in the top 5 percent of income earners in Maine, households need to make at least $202,639 per year. The state’s current median household income stands at $58,924 annually, the report says. To determine the income needed to be classified as rich in each state, 24/7 Wall St.
What is a livable salary in Maine?
Living Wage Calculation for Maine
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $17.88 | $24.78 |
| Poverty Wage | $6.19 | $6.37 |
| Minimum Wage | $12.75 | $12.75 |
What is a living wage in Maine?
Per State Law, Maine’s Minimum Wage to Increase to $12.75 Per Hour in 2022.
How much money do you need to live comfortably in Maine?
How much money do you need to live comfortably in Maine? A single person in Maine needs a salary of at least $31,043 to afford basic necessities, while a family of four needs a household income of $67,416.
What salary is upper class?
A family earning between $32,048 and $53,413 was considered lower-middle class. For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says. Those who earn more than $373,894 are rich.
What is upper class income for a single person?
An upper class income is usually considered at least 50% higher than the median household income. Therefore, an upper class income in America is $100,000 and higher. However, an upper class income also depends on where you live.
What is considered low income?
By government standards, “low-income” earners are men and women whose household income is less than double the Federal Poverty Level (FPL). For a single person household, the 2019 FPL was $12,490 a year. That means that a single person making less than $25,000 a year would be considered low income.
What is a good yearly salary?
On the other hand, a $50,000 average yearly income is good enough for people living in rural areas. Therefore, we can use this information to state that a good salary in the urban area ranges from $70,000–150,000, whereas a good salary in rural areas ranges from $50,000–$80,000.
What is a good monthly income?
What’s the average salary in Singapore? As of Jan 2022, the average salary in Singapore is S$5,783 per month. For full-time employed Singapore residents, the Median Gross Monthly Income from work, including employer CPF contributions, is S$4,563.
What is a good salary to live on?
This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings. The median necessary living wage across the entire US is $67,690.
How many millionaires are in Maine?
32,000 millionaire households
Maine. There are fewer than 32,000 millionaire households in Maine – a state in which rich and poor alike face relatively high living costs and taxes.
Is 170000 a good household income?
In some parts of the country, an annual household income of $94,750 is enough. In others, a minimum household income of over $170,000 is required to rank among the highest earners. In states where the threshold to be in the wealthiest 20% of households is the highest, the overall cost of living also tends to be high.
What is considered middle income?
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 $61,372 in 2017, according to the U.S. Census Bureau. 21 Using Pew’s yardstick, middle income is made up of people who make between $42,000 and $126,000.
What are the 5 social classes?
Gallup has, for a number of years, asked Americans to place themselves — without any guidance — into five social classes: upper, upper-middle, middle, working and lower. These five class labels are representative of the general approach used in popular language and by researchers.
What is the highest paying job in Maine?
1. Physician. Topping the list of the highest paying jobs in Maine, including ophthalmologists, Maine has 2,030 physicians who earn an annual mean wage of $279,700.
