NJ Upper Class (Trenton, Union, Burlington: appointed, how much, house)

[sj3]

A family of 5 making just over $100,000 is struggling. Our debt is minimal, but three children is expensive. I feel as if we are barely making it. A family needs to make closer to or above $200,000 to really have "some" financial comforts in this state (and of course, that depends on location, debts, number of children, etc)

[juliann1977]

Over $150K would start but in NJ $100K does not go as far as it used to and as a result that is middle class in many areas. $250K realistically I think would make you upper class.

I agree--I'd say at least $250k, possibly more like $300k.

[jonjulesmom]

I would have to say $100,000 would make you middle class to upper middle class, depending on where in NJ you are talking about. In southern NJ you could live comfortable with that income.

[RobRiguez]

were a small family (me, wife, kid, mother in law) were 150-200k depending on bonuses and commissions and I would not consider us upper class at all. Other than mortgage and house bills we have less than 10k debt but there is not much left over at the end of the month. We rarely if ever eat out and we dont "keep up with the joneses" so our house is a humble one.

[b75]

If it is just you making in the low 100s & you don't have to spend the money on anyone else (ie spouse children) you'll be comfortable, maybe have a few nicer things in life if you don't do much in the way of saving. But you won't be living the high life, if you watch your money you can afford a nice car, nicer clothes & and an okay place to live (nothing breathtaking) in a nicer area (although def. not elite) but you won't have major financial security. So I would consider that more middle class versus upper middle class.

[my3sonsnj]

IMHO, I think you'd need $250K to be upper-middle class with a family of 4 or more. To me that means an updated house with 2 Baths, 3 BRs, a family room and a great school district. That also means 2 newer cars, dinners out a few times a month, and a cool vacation every year. At least in Bergen County. And no, we don't make even close to that...that's why we're moving! :-)

[JackedInPrinceton]

Good points... Im single and probably ( Hopefully ) still will be about 5 years from now when I plan to making decent money. I also can afford to live in Burlington County which is cheaper because of work in Trenton. So thats why I started this thread in terms of individual salary not family. But I agree 100K even for single individuals is prob more like upper-middle class nowdays.

[krusher]

you have to think about it terms of housing for NJ. If a household is bringing in $100k, then they can only really afford a mortgage of around $300k (using traditional ratio of 2.5 to 3 times income). A $300k home in most sections of NJ is a crap-shack. So I wouldn't say that's upper class.

[bfl]

Totally agree with last writter. In which "decent" town can you get a nice house for $300k without having to commute almost 2 hours each way into the city? Also with high property taxes, gas prices, I am afraid minimum of $250 is what qualifies for a "good life" in NJ; at least in Northern and Central Jersey

[JerseyGirl08]

It is really hard to set a number. If you start out with help from your parents or you are good with saving so there is money to put down and your mortgages are crazy you could do well on a lot less.
The problem in NJ is that everyone wants to be living the luxurious lifestyle early on keeping them from saving and having a good financial foundation.

In reality you could live a very upper class life on just about $200K but the way most people starting out these days they already have tons of debt and have no savings which means you would need more than $275k to afford a big house, fancy cars, the 2+ carat engagement rings, Vacations, the private schools, the cleaning lady and the extras for the stay at home wife (manicures, pedicures, 10+ pairs of shoes a month, etc)