If you have been frustrated by rising prices at the grocery store or stressed about how you are going to pay some bills, you should know that you are not alone.

According to Truflation (an independent inflation data aggregation company), Inflation spiking at Nine Percent in 2022 has shrunk the Middle Class. Almost 20 years ago, the Middle Class accounted for 60 percent of the United States but today has dropped to 50 percent of the population.

Income gaps have grown over the last five decades according to Pew Research.  The Upper Income Bracket Median Income in the United States is now at $219,572 and the Lower Income Bracket (also known as the "Working Class") with a Median Income of $29,963. This Income Gap is one of the largest in American History.

What You Need To Earn To Be Middle Class In New Jersey

The website Consumer Affairs gathered information from The Pew Research Center and U.S. Bureau of Labor Statistics to find out how much income residents of each state need to earn to reach Middle-Class Status in today's America. The minimum Household Income for New Jersey residents to attain Middle Class is now $80,163.

That number ties New Jersey with Connecticut as the fourth-highest minimum household income needed for Middle-Class Status.  This should not be surprising considering New Jersey is also home to the third highest Household Expenses in the United States.

The Top Ten States with the Highest Middle-Class Household Incomes in the US:

1. Hawaii: $82,630
2. District of Columbia: $81,396
3. New York: $81,396
4. New Jersey: $80,163
5. Connecticut: $80,163
6. Massachusetts: $76,463
7. New Hampshire: $73,997
8. Washington: $73,997
9. Maryland: $73,997
10. Vermont: $71,530

Speaking of Household Incomes and Expenses, how do your Property Taxes compare to other communities in New Jersey?  Here is a breakdown of each municipalities Property Taxes in New Jersey:

Average property taxes in New Jersey

These are the county and municipal average property taxes for 2023. The data comes from the New Jersey Department of Community Affairs.

Gallery Credit: New Jersey 101.5

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