What percentage of Americans make 120k?

Approximately 12.8% of U.S. households earned between $120,000 and $124,999 annually as of recent data. If looking at all households that make at least $120k, this represents a much larger portion of the population.

How common is a 120k salary?

The median wage is $113.2K / yr. $120.2K is the 75th percentile. Wages above this are outliers.

What percent of Americans make over $120000?

One half, 49.98%, of all income in the US was earned by households with an income over $100,000, the top twenty percent. Over one quarter, 28.5%, of all income was earned by the top 8%, those households earning more than $150,000 a year. The top 3.65%, with incomes over $200,000, earned 17.5%.

Is $120000 a year considered middle class?

In Massachusetts, California, New York, and Hawaii, a household earning between $120,000 and $140,000 is technically within the middle class, but living costs in these regions erase much of the financial breathing room that the salary once offered.

What class are you in if you make $200,000 a year?

Making $200,000 counts as middle class in these cities. SmartAsset determined the middle class income range for various U.S. cities and all 50 states. San Jose and Irvine are among the cities in California with a higher middle class income range.

What Is Considered a “Good Income”?

What percentage of US citizens make over $100,000?

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What class are you in if you make 120k a year?

Earning more than $110,000 in household income doesn't make you rich — but in most states, it means you're upper-middle class. Nationwide, upper-middle class households earn a median income between $117,000 and $150,000, according to a new GOBankingRates analysis of 2023 Census Bureau data.

What are the 5 wealth classes?

Here's a wealth class framework described by Bo Hanson, CFA, CFP® that breaks out 5 groups by net worth: the bottom 25%, the lower middle class, upper middle class, upper class, and the wealthiest 10%.

Is a 130k salary good?

A $130,000 annual salary is well above the average pay in the U.S., but wages can vary significantly by state. Here's a state-by-state summary of the median household income, according to the most recent data available from the U.S. Census Bureau.

How much is 120k an hour?

How much is $120,000 a year hourly? If you're earning $120,000 annually, your hourly wage is approximately $57.69 . To calculate this, divide your yearly salary by the average number of working hours per year — typically 2080 hours (52 weeks x 40 hours). So, $120,000 divided by 2080 equals an hourly income of $57.69.

What percent of men make 6 figures?

Reaching a six-figure salary is a significant milestone, but the gender pay gap prevents many women from reaching it. Among full-time, year-round workers 16 and older who earn six figures, 68.6% are men. Put another way, there are 2.2 men for every woman who makes at least $100,000.

Is 125k a good salary for a single person?

Yes, $125k is generally a very good salary for a single person, allowing for comfortable living, saving, and fun in most areas, but its real value depends heavily on your location's cost of living, existing debt, and lifestyle. In high-cost-of-living cities, it might feel tighter, while in lower-cost areas, it goes much further. 

Can I afford a 500k house on a 120k salary?

You might be able to afford a $500k house on a $120k salary, but it heavily depends on your debt-to-income (DTI) ratio, credit score, down payment, interest rate, property taxes, and insurance, with lenders often suggesting a maximum home price around 2.5-4 times your income, putting $500k in the potential range if other debts are low and you have a significant down payment. A rough guideline suggests needing around $90k-$100k income for just principal and interest on a $500k loan, but taxes/insurance push that income requirement up, making careful budgeting essential. 

Is $120000 a good salary for a single person?

In the U.S., the median income is $74,580, which puts the range for the middle class between $49,745 and $149,160. However, when adjusting for family size, a $120,000 salary for a single person puts you squarely in the upper class in every metro area in the United States.

Is 120k enough for a family of four?

Honestly a fam of 4 on 120k makes me nervous. Getting by and not struggling, yes, as long as you're frugal. But thriving, and putting away enough for retirement, no.

How many Americans have $2 million in the bank?

Who Actually Has That Kind of Money? According to the Employee Benefit Research Institute, just 1.8% of U.S. households have $2 million or more saved in retirement accounts. That's based on the 2022 Survey of Consumer Finances, conducted by the Federal Reserve.

What net worth is top 5% in the US?

Joining the top 1% requires a net worth of $11.6 million to $13.7 million, a slight dip from 2024 peaks due to market declines but still among the highest in history. For the top 5%, a net worth of $1.17 million to $2.7 million secures your spot, while the top 10% requires between $970,900 and $1.9 million.

Is $100,000 a year upper middle class?

Sociologists William Thompson and Joseph Hickey estimate an income range of roughly $35,000 to $75,000 for the lower middle class and $100,000 or more for the upper middle class.

Is 120K a year 6 figures?

“6 figures” is any salary between $100,000 and $999,999, or a dollar amount with 6 digits.

How much tax would you pay on a 120K salary?

On a £120,000 salary, your take home pay will be £76,157.40 after tax and National Insurance. This equates to £6,346.45 per month and £1,464.57 per week. If you work 5 days per week, this is £292.91 per day, or £36.61 per hour at 40 hours per week.

What is a top 2% salary in the US?

To be in the top 2% of income earners in the U.S., you generally need an annual household income well into the high six figures, often exceeding $700,000 to over $1 million, though exact figures vary by source (like Census, Federal Reserve data) and whether it's individual or household income, with estimates placing the threshold for the top 2% of households around $600,000 - $1.4 million, depending on the year and analysis. For instance, a recent analysis cited a threshold around $1.4 million for the top 2% in 2025, while figures from the Federal Reserve's 2022 survey suggested a threshold of $2.7 million for the top 2% in net worth.
 

What percentage of black men make 100k a year?

Only 6% of black men in America make over $100,000 a year or more. So out of 49.6 million only 2.4.

How much do I need to retire comfortably?

The rule of thumb is to have enough to draw down 80% to 90% of your pre-retirement income. Or, using a simple formula like saving 12 times your pre-retirement salary is also a good rule of thumb.

Can a family of four live on 100k a year?

If you're raising a family of four in 2025, you'll need a six-figure income in 26 states. That's more than half of America where you'll need to earn $100,000 or more annually to budget for and comfortably raise a family.