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Old 10-19-2011, 09:34 AM
 
175 posts, read 117,600 times
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If owned a house I think we'd dip well below middle class based on spending money...but we have two good quality cars and at least we'd have a decent house with nice things in it??? It's hard to define.
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Old 10-19-2011, 09:39 AM
 
Location: Massapequa Park
3,173 posts, read 3,065,901 times
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Here's a table of median household incomes: Table: LI communities by income

Rank 1-50 is Rich to Upper middle class
Rank 51-153 is upper middle to middle
Rank 154-350 is middle to working class to working poor

$125k-$250k is what I would consider upper middle *for Long Island*. If were talking upper middle USA, then at least half the towns on LI would be upper middle. This list is not perfect though, note that a village/hamlet having lots of rentals will bring down MHI (eg-Lynbrook) ...or lots of retirees in an area like someone else mentioned also skews MHI down (eg-Sag Harbor).
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Old 10-19-2011, 01:00 PM
 
Location: Suffolk County
795 posts, read 1,307,465 times
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I just heard yesterday on WBAB that $70,000 on Long Island is poverty level! I can see how that would happen. Long Island is way too expensive these days! It's sick! I would have thought $70k would be middle class but I guess I am wrong. I never would have thought that would mean poverty! Crazy, just crazy!
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Old 10-19-2011, 01:22 PM
 
175 posts, read 117,600 times
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If renting doesn't count in that 70k figure..then...yep...my wife and I would be poor..I'll believe that..
..actually i was just reading the poverty line for ny state is around 14000 and 3x that and less you'd qualify for financial aid for hospital bills..becaquse i just applied for a pity discount for my trip to the ER...i guess they should have some different laws for LI and upstate.

Quote:
Originally Posted by LIgirl74 View Post
I just heard yesterday on WBAB that $70,000 on Long Island is poverty level! I can see how that would happen. Long Island is way too expensive these days! It's sick! I would have thought $70k would be middle class but I guess I am wrong. I never would have thought that would mean poverty! Crazy, just crazy!

Last edited by indiana515; 10-19-2011 at 01:28 PM.. Reason: additional thought
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Old 10-19-2011, 01:40 PM
 
176 posts, read 191,547 times
Reputation: 83
Heh, I was just talking about that, LIgirl, on another thread. They were talking about a family of four, just for context.
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Old 10-19-2011, 01:51 PM
 
Location: Islip,NY
10,994 posts, read 6,891,348 times
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well if $70,000 is considered poverty level than what does that make my my neighbor who's house is in foreclosure, husband on disability but was making above minimum wage with 2 kids and a wife who does not work? I guess below poverty level? I do not know how they are not on public assitance, they say they don't need it so they must have money coming from somewhere. $70,000 poverty level? Are they for real?
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Old 10-19-2011, 03:37 PM
 
Location: Nassau, Long Island, NY
15,512 posts, read 15,203,281 times
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Quote:
Originally Posted by Smash255 View Post
One thing to keep in mind when looking at household median income numbers is that is also takes into consideration those who are retired and may not currently have all that much income, but could still be rather well off. Granted it also takes into consideration the income of children in their 20's still living at home. So you can't always go by median household income as other factors are involved (one area could be wealthier than another, but if it has more retires the income stats might not show that.

With that being said for a typical family I would say anything above $150,000 is upper middle class. Considering taxes and housing costs (even with the downturn in values) I think $120,000 still fits the middle class range which I would say is anywhere from $75,000-$150,000 on LI. The median household income on LI is pretty much right around $90,000.
Isn't it odd that on LI you can be classified as an "upper middle class" family, yet if you wanted to buy an "upper middle class" house to match your status, the RE agent would sneer at you and direct you to the plain old (and I mean old) un-updated lower middle and middle class capes, etc., still decorated circa 1970 with the original bathrooms? LOL. How confusing (and disappointing) it is for people who are moving here from other parts of the country!
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Old 10-19-2011, 03:39 PM
 
Location: Nassau, Long Island, NY
15,512 posts, read 15,203,281 times
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Quote:
Originally Posted by DaPersianJewGurL View Post
Upper middle class on LI is definitely an income of atleast 250k
If we're going by "being able to purchase a bona fide upper-middle class home at today's prices" I would lean towards this figure.
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Old 10-19-2011, 03:41 PM
 
Location: Nassau, Long Island, NY
15,512 posts, read 15,203,281 times
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Quote:
Originally Posted by MikeyKid View Post
The high numbers being thrown here, which I largely agree with since you need upwards to $200k to be upper has to make one laugh at "the richest suburbs" thread going right now:

America's richest suburbs found on Long Island

How "rich" you are has a whole bunch to do with how much of that is tied up in inflated RE holdings and the debt you're carrying. If you couldn't afford to buy your own house today and you're buried in debt with a leased luxury car... you aren't "upper middle class". But the good news is that you can pretend to be!
I bet there are a lot of people on LI in that boat.
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Old 10-19-2011, 03:44 PM
 
Location: Nassau, Long Island, NY
15,512 posts, read 15,203,281 times
Reputation: 6195
Quote:
Originally Posted by LIgirl74 View Post
I just heard yesterday on WBAB that $70,000 on Long Island is poverty level! I can see how that would happen. Long Island is way too expensive these days! It's sick! I would have thought $70k would be middle class but I guess I am wrong. I never would have thought that would mean poverty! Crazy, just crazy!
Look at the expenses of living here: highest real estate taxes, high housing prices, high utility prices, most expensive commuter rail, expensive tolls, expensive gasoline, etc., etc., etc.
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