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This is the Minimum Annual Income Requirement in Central Florida to Be Middle Class!

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Real Estate Agent with Re/Max Town & Country Realty BK560717

           Oliver Rust, head of product at independent inflation data aggregator Truflation, claims that the middle class is capturing a smaller amount of income than it did in the 1960s, 1970s, and 1980s.

            In an interview with Consumer Affairs, Rust stated that the percentage of the middle class in the United States has decreased from approximately 60% to nearly 40% in the two decades since the mid-2000s. Conversely, there has been a sharp rise at the very top and very bottom of the economic spectrum.

       The last few years have seen a sharp increase in inflation, which peaked in 2022 at 9%. This implies that some families who fit the definition of middle class a few years ago might not anymore. According to the Pew Research Center, from 61% in 1971 to 50% in 2021, fewer persons were living in middle-class homes.

What is the minimal yearly income in Central Florida for a middle-class family of four this year?

            It comes to $67,835. That is marginally more than the $65,364 minimum yearly income needed in Georgia to qualify as middle class. The minimal yearly income in Colorado is $69.064. It is $62,897 in Indiana. In Kentucky, Missouri, and Iowa: $61,664

            Hawaii is at the top of the list, where a yearly salary of $82,630 is needed to qualify as middle class. The District of Columbia and New York (tied for second place), New Jersey and Connecticut (tied for third place), and Massachusetts (ranked fourth) are among the other states at the top of the list. Mississippi, West Virginia, Alabama, Arkansas, and Arizona are the bottom five states.

            In a separate study published earlier this year, SmartAsset examined the top and bottom ends of middle-class pay ranges in 100 major cities across all 50 states. Here are the results of that study for a few Florida cities, including Jacksonville, Orlando, and Tampa.

Florida cities rank in the top 100 most expensive places to live, as follows: 

 ·       #91: Miami, Florida

·       #82: Orlando, Florida

·       #67: Jacksonville, Florida

·       #54: Tampa, Florida

·       #53: St. Petersburg, Florida 

 

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About Realtor Scott Garrison:

Bringing over 36+ years of experience as a local Orlando Realtor, Top Central Florida Realtor SCOTT GARRISON at ReMax Town & Country Real State has helped perhaps more Orlando-Area families and investors buy and sell Central Florida Residential Real Estate than any other of the #19,000+ Orlando Realtors currently working in the Central Florida area! 

 

Living in Oviedo and with RE/MAX Real Estate offices in both WINTER SPRINGS, Florida and WINTER PARK, FL, Top Realtor SCOTT GARRISON actively serves your best Residential Real Estate needs virtually anywhere you’d want to be in Central Florida… including Orange, Seminole, Volusia, Osceola, Brevard, and Lake Counties. Scott has lived here in the Central Florida local Orlando-Area for nearly all of his life, attending the local Winter Park High School and graduating with several degrees from the nearby University of Central Florida. 

 

As a Top Seminole & Orange County Real Estate Agent, Realtor Scott Garrison also has extensive experience in Residential Sales and Purchases, Vacant Land and in helping clients with Foreclosures and Short Sales!  He owns multiple Rental Property right here in the area, and over the years, has done many “flips” by buying “ugly houses” and making them Pretty for a new buyer, so he also understands the Real Estate Investor mindset!  Call Scott today to find out why “This Realtor WORKS!”