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A generation ago, $100,000 was considered an upper-middle class income. The median household income in the U.S. in 1984 was just under $59,000. Today, it is about $81,000.
In the D.C. metro, the median household income is currently just over $106,000. But for a small family living in the region, that doesn’t pay the bills.
LendingTree calculated household costs for a family of three, including housing, healthcare, transportation, childcare, taxes, utilities, food and entertainment, and modest monthly savings. Outside of mortgage payments, it does not include any debt servicing costs.
In the D.C. metro, a household income of $100,000 comes up an average $1,434 short each month to cover those expenses.
LendingTree’s analysis found that in one of every four large U.S. metros, a monthly income for a family of three earning $100,000 a year is not enough to cover their basic expenses. It says that leaves many of American families broke, even before putting any money to paying down debt.
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