Americans say families need $85,000 to get by

By Around the Web

(Image courtesy Unsplash)
(Image courtesy Unsplash)

(GALLUP NEWS) – Americans, on average, estimate that a family of four needs a minimum income of $85,000 annually to “get by” in their community, marking a considerable increase from a decade ago. The past decade has witnessed not only an increase in the average income required but also a notable shift in the upper range of income expectations.

During that time, the proportion of Americans who believe that a family needs more than $100,000 to get by has tripled to 30%, while 18% now estimate it to be between $75,000 and $99,999, and 31% think it is $50,000 to $74,999. Half as many Americans now as in 2013 believe a family of four can get by on less than $50,000 annually. This includes 3% who estimate a figure lower than $30,000, and 11% who cite a figure between $30,000 and $49,999.

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The latest average of $85,000, from an April 3-25 Gallup poll, is notably higher than the federal poverty line for a family of four, which is currently $30,000.

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