The personal finance website MoneyGeek analyzed incomes in U.S. cities and found that the number of middle-class households is quickly falling in some of them.
According to its analysis, there are fewer people in the middle class in seven of the 10 largest cities in the U.S. That data backs up Pew data that shows the middle class across the U.S. has shrunk in recent years.
Both Pew and MoneyGeek define the middle class as households earning between two-thirds to double the national median household income.
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Among U.S. cities with a population of over 250,000, Henderson, Nevada, had its proportion of middle-class households shrink between 2017 and 2022. During that time, the middle class went from comprising 45.2% of households to 41.1%. It was followed by Virginia Beach, Virginia, which went from having 46.8% of its households in the …