A report has found that New Jersey has the second-highest income range for its upper middle class.
Residents of the Garden State need a household income of at least $162,235 to be considered near the top of the class, said a study published Feb. 10 by financial technology company MoneyLion. New Jersey trails only Massachusetts, which has a minimum income of $163,066 for upper-middle-class members.
New Jersey's median household income of $104,294 is also second behind Massachusetts, the report said. Households must earn at least $69,529 to be part of the middle class, and the highest amount in the state's upper-middle-class range was set at $208,588.
Maryland, Hawaii and California rounded out the top five in the MoneyLion report. Mississippi had the lowest minimum income to be considered upper-middle-class, at $91,975, followed by West Virginia ($94,575) and Louisiana ($94,867).
To determine the figures, MoneyLion analyzed median income data from 2024 and divided each state's income range into thirds. The middle class level was then broken into three brackets to determine the financial requirements for the upper middle class of all 50 states.
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Here is a list of the 10 states with the highest ranges for the upper middle class, along with the median household income for each.
This article originally appeared on NorthJersey.com: What's considered upper middle class in New Jersey? A breakdown