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Old 02-28-2018, 12:16 PM
 
Location: Boston, MA
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I would consider 200k quite well off in Boston, especially if that is your personal salary (not household). I don't even know what I would do if I made that much money. I would not worry about much though, I know that for sure. Nurses in Ohio are probably 60k. That would be maybe entering upper middle class territory.
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Old 02-28-2018, 12:16 PM
 
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Quote:
Originally Posted by tysmith95 View Post
You can afford a home around here with a 150k salary. Using the general rule of thumb that a home can't be more then 3x your gross yearly salary that means a 150k house could possibly afford a 450k home.

It won't be in the best school district, or in the best location or the most updated. But they certainly exsist within commuting distance to Boston.

But yah in other regions you can afford an updated single family home in the best school district and close to the city center for 450k. It all depends on what your expectations are.

Still though I'm not sure that looking at the Nationwide middle class definition is the right idea. The average salaries in Boston for many industries are a good bit higher. For example some teachers in the Boston area are starting to get close to 100k in some places. Nurses get paid close to 6 figures. Policeman can often make over 6 figures. These are all what I think of when I think of middle class professions. If you have two earners in the house hold with many of these professions then you could say some middle class households in the area make 200k.

40k for a household is definitely not middle class in this area. A minimum wage worker in Massachusetts who works 40 hours a week makes roughly 23k a year. So a household with two minimum wage workers would have 46k in income. And minimum wage employees aren't middle class imho.
OK so we'll say 200k is the upper limit. I still think it's rare to have BOTH spouses earning over 6 figures, even in the Boston area.


Purchasing at 3X your gross salary is stretching it for most. My first home was just over that and it certainly felt like too much. My 2nd and 3rd (current) home were both well under 2X my gross, and I still don't feel like I have an excessive amount left over. So I will concede that some at the higher end of middle class in the Boston area can still afford a decent home, we are still losing far too many.
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Old 02-28-2018, 12:18 PM
 
Location: New England
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Originally Posted by timberline742 View Post
Of course, that is one reason why judging what is middle class based on percentage or segment of the median regional salary makes much more sense that comparing it to absolute dollars. Those nurses aren't earning 135k in Pittsburgh, or Ashland OH, or Albuerque NM.
The medium one bedroom rent in Ashland OH is not 1.9k a month either (that's roughly the medium one bed rent in Boston).
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Old 02-28-2018, 12:20 PM
 
Location: New England
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Originally Posted by bjimmy24 View Post
I would consider 200k quite well off in Boston, especially if that is your personal salary (not household). I don't even know what I would do if I made that much money. I would not worry about much though, I know that for sure. Nurses in Ohio are probably 60k. That would be maybe entering upper middle class territory.
Oh for personal salary it's certainly a bit above middle class. For household salary it's actually fairly common in 2018. Most couples are dual earner.

Two earner households are usually the ones buying single family homes. Single people do not really buy single family homes in this area any more.

When looking at the average household income on the census it seems fairly low. But i'm not sure how the census counts single people with roommates. Also i'm sure that it includes retired people, who would bring that number down. I'd be interested to see the medium salary for married couples in prime working age (25-65 or so) in this area. I honestly wouldn't be surprised if that's around 100k or so.

Per Capita income is probably a better number to use. For a family that would be four "capita" for that income. In Massachusetts the average per capita income is 36.5k. Of course that includes poorer areas (Worcester, Springfield, South Coast). If you look inside of 495 it's probably higher. It also includes all children, retirees, people in school. Taking those people out would bring the per capita income number up.

Of course medium per capita income is probably a better number, as it would take out the anomalies on the high end. But I can't seem to find that data.

Medium household income is given at roughly 71k. But that includes single households and retirees. I'm sure that just looking at dual earner households the number would be a good bit higher.

Last edited by tysmith95; 02-28-2018 at 12:30 PM..
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Old 02-28-2018, 12:20 PM
 
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Originally Posted by tysmith95 View Post
Even something that requires a CDL (eg trucker) I'd probably consider lower middle class, as they do make a good bit more then minimum wage. I believe that most commercial truckers make between 50-100k.
But many "professional" jobs barely earn that, so how than that be called "lower" middle class? In Boston. It's only a select few industries that pay those kind of high salaries.
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Old 02-28-2018, 12:23 PM
 
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Originally Posted by timberline742 View Post
Those nurses aren't earning 135k in Pittsburgh, or Ashland OH, or Albuerque NM.
Or in Norwood probably.
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Old 02-28-2018, 12:30 PM
 
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Originally Posted by massnative71 View Post
Or in Norwood probably.

They are, because they're most likely commuting into the city, and the talent supply is regional so the suburbs also have high salaries.


Quote:
Originally Posted by tysmith95 View Post
The medium one bedroom rent in Ashland OH is not 1.9k a month either (that's roughly the medium one bed rent in Boston).


Yeah, don't fall for that. I don't know a single person in the area paying that much.
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Old 02-28-2018, 12:32 PM
 
Location: New England
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Originally Posted by massnative71 View Post
But many "professional" jobs barely earn that, so how than that be called "lower" middle class? In Boston. It's only a select few industries that pay those kind of high salaries.
The average UPS driver salary in the USA is 74k a year. With the postal service the average worker makes about 53k a year. That's the two biggest shipping companies in the US. The average pay for a trucker of a private fleet (something like walmart or another large store) is 73k a year. http://money.cnn.com/2015/10/09/news...age/index.html. None of these jobs even require a college degree.

With the postal service i'm not even sure that their mail trucks require a CDL. Someone can correct me if i'm wrong though.

I'm not sure about the regional differences in those jobs, or weather they pay more in Boston.

Quote:
Originally Posted by timberline742 View Post
Yeah, don't fall for that. I don't know a single person in the area paying that much.
The majority of single people that I know in Boston live with roommates to save money. I don't know many young single people who own/rent their own house or apartment. You'd have to be pretty wealthy to do so.
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Old 02-28-2018, 12:34 PM
 
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Originally Posted by tysmith95 View Post
The majority of single people that I know in Boston live with roommates to save money.


I know plenty of both, well, if you include Somerville, Cambridge, etc. Those median rents are based off of published things in rental guides or realty websites which are super skewed toward the high end.
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Old 02-28-2018, 12:41 PM
 
Location: New England
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Originally Posted by timberline742 View Post
I know plenty of both, well, if you include Somerville, Cambridge, etc. Those median rents are based off of published things in rental guides or realty websites which are super skewed toward the high end.
True, you're correct. I got it from an article (I believe it was the globe but i'm not sure) that I read last week.

Though i'm at the age where most of my friends are right out of college. If you look at 30 something and older singles i'm sure more of them live alone.
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