SALT LAKE CITY, Utah (ABC4 News) – Utah has been ranked the best state for the middle class in 2020.
According to smartasset.com, the Beehive State has the highest percentage of middle-class households in the U.S., while also boasting the lowest rate of income inequality.
According to 2019 census data, 54.6% of Utah households have an estimated yearly income between $50,000 and $149,999. That is approximately two-thirds to two times the national median household income.
Utah’s Gini index, which measures a state’s income inequality, with 0 indicating perfect equality and 1 indicating perfect inequality, was measured at 0.43, the lowest of any state.
Data gathered by smartasset.com shows that the median household income in Utah is $78,357, with the state’s median home value being $330,300.
Additionally, this data shows a homeownership rate of 70.6% in Utah.
Idaho, Minnesota, South Dakota, and Iowa rounded out the top 5 of the list.
Smartasset.com also ranked Utah as the best state for the middle class in their 2019 study.
Utah Gov. Gary Herbert says he “was happy to see Utah ranked as having the best middle class in America…,” on his Facebook page on Thursday.
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