Americans say average family needs $85,000 to get by: Gallup
by Lauren Sforza - 05/26/23 10:46 AM ET
A new poll found that Americans believe the average family needs to make a minimum of $85,000 annually to get by, a major increase from just a decade ago.
The Gallup poll shows about a 46 percent increase in the perceived average income a family of four needs compared to 2013, when Americans put the figure at $58,000 annually.
“The rise in perceived necessary income to support a family of four highlights the economic pressure facing American households as high inflation stretches into a second year,” the poll results read.
About 31 percent of respondents said the minimum annual income a family of four needs to make is between $50,000 to $75,000 per year, while 30 percent of respondents said the family’s annual income should be at least $100,000. Those saying a family of four needed an income of at least $100,000 tripled from 2013, when only 10 percent selected that bracket.
In 2013, 7 percent of respondents said a family of four could get by on an income of $30,000 or less, while in 2023, about 3 percent said the same thing.
The current United States federal poverty level for a family of four is an annual income of $30,000 or less in 2023, which is used as an indicator of eligibility for certain federal programs and benefits.
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https://thehill.com/business/4022178-americans-say-average-family-needs-85000-to-get-by-gallup/
