America’s middle class is shrinking – Here’s how Plano’s middle class stacks up

Get money smart early // photo Annie Spratt
In a recent SmartAsset study, Plano ranked #9 for the wealthiest middle class. The median salary for a Plano resident is $95,002.

In a SmartAsset study of the median household income in America’s largest 100 cities, Plano ranked #9 for the most wealthy middle class.

Middle-class salary ranges were determined by two-thirds to double the median U.S. salary. Plano’s middle income lower limit is $63,651, the median household income is $95,002 and the upper limit is $190,004.

In contrast, Texas’ middle-class lower limit is $44,865, the median is $66,963 and the upper limit is $133,926.

Plano tops other 11 other Texas cities: Austin came in at #23, Irving at #38, Ft. Worth at #44, Garland at #59, Arlington at #62, Corpus Christi at #63, Dallas at #72, Houston at #76, Lubbock at #78, Laredo at #84 and El Paso at #87.

According to Pew Research, the percentage of adults in the middle class was 50%, down from 52% in 2016. The number has been steadily declining since 1971 when the middle class consisted of 61% of U.S. adults.

Plano’s middle-class income can be attributed in part to the presence of banking giants as the largest employers in the city: JP Morgan Chase, Capital One and Bank of America. Combined, these three companies employ almost 20,000 workers. Plano also has the lowest average home value of the cities on the top 10 list at an average of $487,000, according to SmartAsset.

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