The average salary in the U.S. is $66,622, according to the latest data from the Social Security Administration.
Income distribution in the United States
Data source: U.S. Census Bureau (2025). Forty-five percent of American households earn less than $75,000 per year. Forty-three percent earn $100,000 or more.
According to the US Census, about 17% of American households make between $100,000 and $149,999, 9.5% of households make between $150,000 and $199,999, and another 14% earn $200,000 or more. But those percentages represent total household incomes where 2 or more people in the home might be working.
Yes $75000 is a decent salary for a single person. There are thousands of variables to this, but on the surface it's a respectable salary in most places.
The median household income in the U.S. is around $83,730, according to the U.S. Census Bureau. But how people define “upper class” differs. Some say you'd need to be making twice the median income, or around $167,460. Even more elite are those who find themselves in the top 5 percent of earners.
A home buyer earning a $75,000 gross annual salary may be able to afford a home that costs around $234,000 — with a monthly mortgage payment of around $1,800.
Middle-Class Income
According to the U.S. Census Bureau, in 2021 median household income was $70,784, meaning American households who earn between $47,189 and $141,568 are considered middle-class (U.S. Census Bureau, 2022). Financial classifications, however, are highly relative, and often depend on geography.
A common starting point is to estimate that you'll need about 70% to 80% of your pre-retirement income to maintain your standard of living in retirement. For example, if you earn $150,000 annually while working, you might need between $105,000 to $120,000 as a starting point in retirement.
A $100k salary for a family of four is considered middle-class but its adequacy depends heavily on location, with high-cost areas like California or New York making it tight, requiring sacrifices, while lower-cost states might allow for comfort and even savings. While it covers basic needs and some extras in many places, it's often not enough for true financial security or a lavish lifestyle, especially with rising costs for housing, childcare, and healthcare.
Key Takeaways. Top earners across the United States earn nearly least six figures, with an average income of over $99,971 for those in the top 10% in 2022. Earners in the top 1% need to make $1 million annually in states like California, Connecticut, Massachusetts, New Jersey, and Washington.
Asian Americans, particularly Indian Americans, consistently show the highest median household incomes in the U.S., often significantly above the national average and other racial/ethnic groups like White, Black, and Hispanic populations, though income disparities exist within different Asian ethnicities.
Yes, $75k is generally considered middle class, often falling into the lower-middle to middle-middle income range, but it heavily depends on location (high cost of living areas make it lower) and household size, though some consider it low due to rising expenses. While the Pew Research Center defines middle-income as two-thirds to double the national median (around $56k-$170k), $75k is a significant chunk of many Americans' earnings, but rising costs make it feel less substantial, notes SoFi and CNBC.
There isn't a specific credit score you need for a mortgage, and that's because there isn't just one credit score. When you make an application for a mortgage or other type of credit, lenders work out a credit score for you.
A $500,000 salary provides exceptional buying power for homebuyers. Typical affordability ranges fall between $1,389,584 and $1,781,127, though actual qualification depends on individual circumstances including debt, down payment, and location.
Key takeaways
The average Social Security check for retirees is around $2,000 per month — slightly higher than the average benefit for survivors and people with disabilities.
Only a small percentage of Americans retire with $1 million or more in retirement savings, with figures from the Federal Reserve and Employee Benefit Research Institute (EBRI) showing around 3.2% of retirees hitting that mark, though some sources cite slightly lower numbers for all Americans (around 2.5%) or higher estimates for households nearing retirement (over 10% of older households have $1M+ net worth, not just retirement funds). The reality is most retirees have significantly less, with the median for ages 65-74 being around $200,000-$609,000 in retirement accounts.
With $5,000 per month in retirement, you can afford to live in many locations, coast to coast and beyond. As long as you pay close attention to your savings and stick to a reasonable budget, you can turn that $5,000 monthly retirement budget into a dream lifestyle for your golden years.
Americans now believe it takes an average of $2.3 million to be considered wealthy. That's a 21% rise since 2021, reflecting the way inflation and soaring costs have changed perceptions of wealth.
Of the 54.3% of U.S. households that have any money in retirement accounts, only about 9.3% have $500,000 or more in retirement savings.