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Old 12-02-2006, 02:30 PM
 
Location: central fl
467 posts, read 1,546,380 times
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I keep hearing that the middle class is being squeezed out. does anyone know what a middle class income is? what income makes someone poor or rich?
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Old 12-02-2006, 02:38 PM
 
Location: FL
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I forget exacts, but in Collier County, to be qualified for low-income housing, if you are a family of 4 making $31K a year, that's too much. I would think middle class would be a combined income of....say, $60K? But I honestly am pulling that out of my butt, because I don't know. Just posting my thoughts to see if I am anywhere near the correct answer, if someone actually knows the statistics.
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Old 12-02-2006, 05:32 PM
 
Location: Old Town Alexandria
14,505 posts, read 23,691,229 times
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In Palm Beach County you should be making at least 60-70k/2 income household- (not counting if you have kids) Your mortgage, for a decent house, will be about 2k per month- Homeowners Assoc fees are higher now/200/300 per month- property taxes- 4k-; homeowners insurance is a big one- depends if you ever used it/and your credit rating- if you ever used/needed it you will get penalized big time.
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Old 12-02-2006, 06:30 PM
 
Location: Fort Lauderdale, FL
518 posts, read 1,991,058 times
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I think it depends on your circumstances and where you live. In Broward, if you are married with two kids, you probably need to be earning close to $100K a year to be right in the "middle" of the middle class. If you are married without kids, or single, that figure will be a bit lower.
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Old 12-02-2006, 06:42 PM
 
Location: USA
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Chisoxfan would be on the nose, to qualify for free meals in the school system, there has two be a family of I recall 4 under 30000. The last stats I saw 80k to 100k was Middle income.
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Old 12-03-2006, 02:59 AM
 
Location: western East Roman Empire
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By its very nature, middle class is a nebulous concept and, as some have already mentioned, it depends on circumstances, as well as expectations, I would add.

I believe that the average household income in the US is around $40,000. If there is only one mouth to feed, maybe two, and one aspires to rent, that may be enough to qualify as middle class.

If one defines middle class as being able to afford ownership of a single-family home (SFH), calculate that, in southern Florida at least, the average SHF buy price is around $330,000 (that figure is coming off a bit now): if we take the 3x income rule, then, yes, as someone already mentioned, middle class means earning around $110,000 annualy.

In short, starting from the national average of $40,000 per household per year, up to, say, around $120,000, define what you expect to do on a given level of income in a given area and see if it works out.

A typical household earning less than at least $100,000 annually is being squeezed out of SFH-ownership in southern Florida (as well as some other regions of the state).
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Old 12-03-2006, 11:26 AM
 
Location: Orlando, FL - used to be nice, a dump now. Anyone speak English down here???
340 posts, read 329,327 times
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Quote:
Originally Posted by chisoxfan View Post
I think it depends on your circumstances and where you live. In Broward, if you are married with two kids, you probably need to be earning close to $100K a year to be right in the "middle" of the middle class. If you are married without kids, or single, that figure will be a bit lower.
What jobs pay $100k a year in FL? Yeah... not very many. Therefore, everyone making less than that is squeezed, big time.

Disney workers must all be considered way below poverty level @ $7.50/h.

Actually most jobs in FL (tourism jobs, gas station, fast food, parks, hotel staff, housekeeping, Walmart) pay around that so you mean to say 90% of the state lives way below poverty level?

No wonder crime is getting crazy. People are desperate... rent is $1,000+/mo and wage is $7.50. Not to justify crime (it must be delt with harshly), but it is starting to make sense now....
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Old 12-03-2006, 11:36 AM
 
Location: central fl
467 posts, read 1,546,380 times
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it does make sense. not many houshold incomes are 100k. I am curious even how people making 7.50 were able to by homes in 2000 without a decent down.
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Old 12-03-2006, 03:13 PM
 
Location: Central FL
1,683 posts, read 7,565,065 times
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Disney workers must all be considered way below poverty level @ $7.50/h.
pay around that so you mean to say 90% of the state lives way below poverty level?

[/i]

So 90% of the people in Florida work make $7.50 or below, huh? I'm curious, where did you get the facts to support this statement?

The Wendy's I pass on the way to work was advertising jobs starting at $10.00 an hour. One of my children's part time job pays $15.00 a hour.

Now, you may be correct saying that Disney pays $7.50 an hour - I'm just curious as to where you got the supporting statistics to say that 90% of Floridians make that or less?
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Old 12-03-2006, 08:30 PM
 
Location: Orlando, FL - used to be nice, a dump now. Anyone speak English down here???
340 posts, read 329,327 times
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Quote:
Originally Posted by CURT View Post
it does make sense. not many houshold incomes are 100k. I am curious even how people making 7.50 were able to by homes in 2000 without a decent down.
Usually they do with by gettiong one of the "magic loans" where you only pay interst on the first year or the 1.9% payment only loan, with the thought they'd flip the house for more next year. But hey, the market cooled down as expected and thus we have the mass foreclosures today.

The winners: the banks and the investors/speculators who only buy when foreclosures are high.
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