DENVER (KDVR) — It takes a lot more money to be considered anything above the lower middle class in the Mile High City.
In Denver, making $95,000 a year isn’t enough to break you out of the lower middle class, according to a new study – but it is close.
GOBankingRates researched the 100 largest cities in the U.S. and found the median household incomes for those cities. The study then followed the Pew Research Center’s definition of middle-class income as “two-thirds to double” the median income of an area.
Cities’ lower middle-class range
Out of the 100 largest cities, Denver ranked No. 21 with the highest range to be considered lower middle class.
How much you need to make to be ‘middle class’ in Denver
The income for the lower middle class in Denver ranges from $57,235 to $95,392.
How far does a $100K salary go in Denver?
For someone earning six figures in Denver, it doesn’t equate to much after factoring in the cost of living. GOBankingRates estimated total annual expenses for a Denverite making six figures to be around $51,581.05. After paying the taxes and bills, the six-figure earner would have about $22,716.95 left over.