For generations, the American middle-class dream has been built on a foundation of stability — owning a home, saving for retirement, and indulging in occasional comforts like vacations or home upgrades.
According to SmartAsset’s annual What It Takes to Be Middle Class in America report , middle-class income ranges vary widely depending on location — from as low as $49,478 to as high as $280,438 in major cities. In Texas, Plano tops the list with the highest middle-class income threshold in the state.
Plano Sees Year-Over-Year Increases
In Plano, the income needed to qualify as middle class has climbed significantly in just one year. The most recent available data from 2023 shows the middle-class income range spanned from $72,389 to $217,188, with a median household income of $108,594, according to SmartAsset.
That’s up from 2022, when the middle-class range started at $69,270 and capped at $207,832, with a median income of $103,916.
Jobs? Plano Has Jobs
While money is great, you’ve still gotta earn it. Thankfully, Plano is home to several major companies , particularly in the tech, finance and retail sectors. Notably, it hosts the headquarters of Toyota North America, which relocated its corporate campus to Plano in 2017. Other large companies include J.C. Penney, which was headquartered there for many years before its move, and the financial services firm, Capital One, which operates a significant campus in the city. Additionally, KFC recently announced it will move its headquarters to Plano, bringing even more job opportunities.
What Is Considered Middle-Class
The study follows the Pew Research Center’s definition of middle-class — households earning between two-thirds and twice the median income in their area. So, what does it take to be considered middle class in America? Well, it just depends on where you live.
How This Compares To Plano’s Cost Of Living
According to PayScale , living in Plano comes with higher-than-average costs in several key areas — especially housing. The city’s median home price is $633,000, and median rent averages $1,924 per month, making housing expenses 27% higher than the national average. Utility bills are also steeper, with the average energy bill at $228.28 per month, about 14% above the national average…