Silicon Valley So Expensive, $400k A Year Is 'Middle Class'
Some Silicon Valley residents who earn more than the equivalent of $A500,000 a year consider themselves to be middle class.
Let that sink in.
The Palo Alto Weekly, a local paper in California, asked residents to report their household income and perceived social class.
Of the 250 respondents with incomes between $US10,000 to $US399,999, a massive 81%said they were "middle class."
Although the term is pretty broad, middle class in America is roughly defined as those earning 67% to 200% of the median household income — $US39,560 to $US118,080 in 2016.
Residents blamed the high cost of living as one of the reasons they identified as middle class.
For perspective, Business Insider pulled some US Census data to find out how much you'd have to earn to ~actually~ be considered "middle class".
• Middle class range: $45,784 - $137,352
• Median income: $68,676
San Antonio, Texas
• Middle class range: $37,403 - $112,210
• Median income: $56,105
• Middle class range: $34,923 - $104,770
• Median income: $52,385