What is considered "Middle & Upper Class" in Atlanta? (low income, real estate)

[dejuan2]

While reading through several topics on this forum, I noticed that many people referred to the desire to move to a Middle or Upper Class neighborhood. My question is what household income range falls into the following categories:

Middle Class
Upper Middle Class
Upper Class (if there is such a thing)
&
Wealthy

as it pertains to Atlanta's cost if living.

[atlantagreg30127]

I don't think I've ever read where there is a designated income level for that.

Everyone's different. I don't associate "class" with "income". I associate class with how someone handles themselves around others, treats others, respects others, etc. I've known very low income people with tons of class before, and likewise I've known wealthy people with about as much class as a caveman.

That being said, in terms of neighborhoods, I think once you reach the $225,000 to $350,000 price range that would be by many considered "upper middle class", with homes in the $150,000 to $220,000 range in the "middle class" range, give or take some either way. Anything above $350k and you start getting into the upper income areas. Really though, with so many people getting interest-only loans or taking risks with adjustable loans, you're seeing more folks with lower incomes moving into homes in upper income areas. Although later you also see a higher than normal forclosure rate on those same homes.

Neighborhood class has nothing to do with how your neighbors will turn out, though. I know someone who moved into a subdivision of $650,000+ homes, and two month later a guy in the Rap industry moved in next door. The noise and commotion was unbearable and police were there every-other day. Might as well have been a rundown trailer park. Likewise I've seen neighborhoods of modest $100-$120k homes that were very well kept up with nice quiet neighbors and all of that, too. It's a roll of the dice in Atlanta and who you end up with as neighbors, or how nice/safe that neighborhood is, isn't always determined by the income of those neighbors because there are tons of nice subdivisions and neighborhoods here that may be surrounded by less nice areas.

[ready2move]

Originally Posted by atlantagreg30127

I don't think I've ever read where there is a designated income level for that.

Everyone's different. I don't associate "class" with "income". I associate class with how someone handles themselves around others, treats others, respects others, etc. I've known very low income people with tons of class before, and likewise I've known wealthy people with about as much class as a caveman.

That being said, in terms of neighborhoods, I think once you reach the $225,000 to $350,000 price range that would be by many considered "upper middle class", with homes in the $150,000 to $220,000 range in the "middle class" range, give or take some either way. Anything above $350k and you start getting into the upper income areas. Really though, with so many people getting interest-only loans or taking risks with adjustable loans, you're seeing more folks with lower incomes moving into homes in upper income areas. Although later you also see a higher than normal forclosure rate on those same homes.

Neighborhood class has nothing to do with how your neighbors will turn out, though. I know someone who moved into a subdivision of $650,000+ homes, and two month later a guy in the Rap industry moved in next door. The noise and commotion was unbearable and police were there every-other day. Might as well have been a rundown trailer park. Likewise I've seen neighborhoods of modest $100-$120k homes that were very well kept up with nice quiet neighbors and all of that, too. It's a roll of the dice in Atlanta and who you end up with as neighbors, or how nice/safe that neighborhood is, isn't always determined by the income of those neighbors because there are tons of nice subdivisions and neighborhoods here that may be surrounded by less nice areas.

Very well said!

[NDA]

Amazing! Those prices aren't enough to get you in a condo in California. That was a good question. I've wondered about that myself.

How can anyone there be poor?

[xxman777]

Originally Posted by NDA

Amazing! Those prices aren't enough to get you in a condo in California. That was a good question. I've wondered about that myself.

How can anyone there be poor?

People can be poor in Georgia because wages in California are much, much higher.

[dejuan2]

My question pertains to household income and not real estate prices.
Thanks.

[JPD]

Originally Posted by dejuan2

My question pertains to household income and not real estate prices.
Thanks.

Depends on the size of the family.

You'll probably get some wildly divergent results since a lot of people who are wealthy tend to insist they are middle class, or just barely upper-middle class.

It's a lot easier to define which "class" you're in by considering how much debt you have and how capable you are financially to feed, shelter, clothe, transport and provide health care for your family while also saving for retirement and perhaps college for your kids. People in the upper classes likely don't struggle with any of those things. People who struggle with one or two are likely in the middle classes. People who struggle with three or more are probably in lower classes.

I know that's a VERY oversimplified analysis.

[nrgpill]

My own personal definition of "upper" would be at least 10 million dollars in cash convert-able assets (net). Keep in mind though, your net worth can be far higher but you can also be cash poor.

"Wealthy" would be someone who can casually go out and buy a carbon fiber Wally (118 Wallypower) like buying a loaf of bread for the "average".


Using OP's parameters, however, it is more difficult to say since you can leverage so much in real estate. Those who "seem rich" may not be and vice-versa.

[sumiller2000]

middle class - $50,000 - 89,000 per year
upper middle class - $90.000 - 200,000
upper class - 201,000 - 1,000,000
wealthy - over 1,000,000

House values can be deceiving - we live in a house that we could never afford if we had to buy it today, but we have lived in town forever, so the prices have skyrocketed.

[xxman777]

Originally Posted by sumiller2000

middle class - $50,000 - 89,000 per year
upper middle class - $90.000 - 200,000
upper class - 201,000 - 1,000,000
wealthy - over 1,000,000

House values can be deceiving - we live in a house that we could never afford if we had to buy it today, but we have lived in town forever, so the prices have skyrocketed.

I think middle class has to start below this level. The area median income for Atlanta is something like $45k. If you are making the average for a region you shouldn't have too much trouble getting by which would put you in the middle class. I would start middle class at something like $30,000 but all the other numbers sound right. Of course it depends a lot on family size and other circumstances. Also a lot of people live outside their means so income doesn't necessarily dictate lifestyle.