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What’s the middle class worth? 

The term “middle class” means different things to different people. Our simple shorthand is to divide the nation’s households into five income brackets. The middle 20% of households is the middle class. How much wealth do you think they own? [We have the data]([link removed]) about how real estate and retirement savings drive financial stability for millions of people.  

[Avg household wealth income by bracket]([link removed])

- Middle-class wealth has grown, shrunk, and grown again over the years, reaching a record $499,000 in 2022. By Q2 (April, May, and June) of last year, the average middle-class household had $472,000 in wealth. That's $12.5 trillion for the entire middle class, or 8% of all household wealth.  

- As of 2022, average middle-class households earned between $58,000 and $96,000 annually. 

- Middle-class wealth is primarily tied to real estate (37.8% of average household assets) and retirement savings (19.8%). In comparison, higher-income households have more business equity and financial investments. 

- Debt patterns also vary: households in lower-income brackets had more credit debt, while higher-income groups had more mortgage debt. 

[See the wealth of data]([link removed])

GDP: The value of all the US makes and spends 

[Gross domestic product]([link removed]), or GDP, is a metric to understand the value of everything produced in the US. And we mean pretty much everything: it’s the sum of consumer and government spending on goods and services, business investments, and net exports. Put together, they provide insight into the size and direction of the nation’s economy.  

- The country’s real GDP (that’s GDP adjusted for inflation) was $23.4 trillion in Q3 2024, up 2.7% from the same period in 2023. 

- The real estate, rental, and leasing industry contributed $3.8 trillion (13.7%) to GDP in 2023, the most of any industry, followed by professional and business services (13.0%) and government (11.2%). 

[Real GDP per person]([link removed])

- In 2023, the GDP per person was $67,692, up 2.4% from 2022. It exceeded $85,000 per person in New York, Massachusetts, and Washington. It was less than $48,000 in Arkansas, West Virginia, and Mississippi. 

[Get the 411 on GDP]([link removed])

Data behind the news

Last week, the governor of New Jersey announced the state was going to build a supply of medication used in abortions. Here’s the data on [which states ban such medication]([link removed]). 
 
Wildfire smoke and ash in the Los Angeles air have raised health questions. [This article has facts]([link removed]) on the air quality index. 
 
[Test your knowledge]([link removed]) with the weekly fact quiz! 

One last fact

[land burned by wildfires]([link removed])

Are wildfires becoming more frequent? [In general, no]([link removed]) — but they’re burning more and more acres. After adjusting for state size, Nebraska and Oklahoma had the [most acres burned]([link removed]) per 10,000 acres overall in 2023. 

 

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