Are You Considered Middle Class In Amarillo? This Will Help You.

Financial statuses are very different depending on where you live, and with Texas being such a big state, what is considered one thing in Amarillo is different from what it means in another city like Dallas.

When I mention financial status, I'm talking about the "classes" we all are a part of. Lower class, middle class, upper class. Some like to try and live like upper class when they're truly middle class, and others try to live lower class even though they're middle class.

The real question though is how do you determine what you truly are considered? I mean, it all comes down to money, and that's the reality of it. Some can be middle class but be so overextended they appear to be in the lower class bracket.

So let's end this debate.

We'll start with lower class. It's been determined that households earning less than $56,600 in Texas are considered lower class households. Middle class falls anywhere between $56,600 and $169,800, while upper class is anything above $169,800.

So how does all this get determined? It's somewhat tricky. Each state has a median income, which is a relative average income made in the state. Basically, all the salaries are bunched together then divided by the amount of people making them.

Once that number is determined, that becomes the state median. Texas' median income is actually a bit lower than the national average and that's what can make it tricky.

According to the Pew Research Center, the middle class is defined as someone making between 67% and 200% of the median income of the state. In other words, anyone making between 2/3 of the median income all the way up to double the median income.

Based on that info, that would place the median income in Texas at $84,900. So where do you fall on the income ladder and are you living the way you should be?