Americans Struggle With High Costs

150K Salary Qualifies as Lower Middle Class in These Cities

Rising Cost of Living Makes Six-Figure Income Less Impressive

In an era where a six-figure salary was once a hallmark of financial success, a 150K income is now considered lower middle class in many major U.S. cities. New research from GOBankingRates reveals that the high cost of living in these urban centers has eroded the purchasing power of six-figure earners, pushing them down the economic ladder.

The city topping the list is Arlington, Virginia, where residents making between $91,000 and $152,000 are considered lower middle class. Other cities where people making a $150,000 income qualify as lower middle class include San Francisco, California; New York City, New York; Boston, Massachusetts; and Seattle, Washington.

The high cost of housing is a major factor driving down the economic status of six-figure earners. In San Francisco, for example, the median home price is over $1 million, making it extremely difficult for even high-income earners to afford a home. The high cost of other necessities, such as food, transportation, and healthcare, also contributes to the financial squeeze.

The rising cost of living is a major challenge for many Americans, and it is particularly difficult for those who are just starting out in their careers. Six-figure salaries were once considered a ticket to financial security, but in today's high-cost cities, they are no longer enough to guarantee a comfortable lifestyle.