Most US Families With Kids Earn Over $100,000. But With Inflation, ‘$100K Today Is $50K In 2000’

A recent Reddit post sparked debate after claiming that most U.S. families with children now earn over $100,000 a year.

While the claim points to Census Bureau data used in bankruptcy filings, many users quickly pushed back, citing personal experiences and the reality of today’s economy.

The U.S. Census Bureau doesn’t specifically track families with kids in the data referenced. Instead, the chart reflects median income by family size, with three- and four-person households listed, which often include children.

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According to the Census data for cases filed between April 1 and May 14, median incomes for four-person families surpassed $100,000 in over 30 states, including Georgia ($114,618), Florida ($107,712) and Texas ($110,719). On the other hand, in Massachusetts and Washington, D.C., four-person households were listed at  $172,104 and $219,512, respectively.

Still, the six-figure threshold doesn’t stretch nearly as far as it once did.

“$100K today is $50K in 2000. So…makes sense,” one Reddit user wrote. “I make about 10% more than the average for my career field today…but 16% less than the inflation-adjusted average from 2000. Yikes.”

Another added, “I’ve gotten $20K in raises since 2019 and I have $500 more in buying power according to the inflation calculator.”

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A 2024 survey by Edelman Financial Engines found that 58% of Americans believe you need at least $100,000 a year just to avoid constant financial stress. For a quarter of respondents, even $200,000 was considered the minimum to feel comfortable.

That finding mirrors many Reddit users’ experiences. One commenter noted, “We make 165-175K a year in a [medium cost-of-living] large city and have one kid. I definitely don’t feel rich.”

A parent living in a high-cost area shared that they make around $181,000 and still feel like they’re “scraping by.” Daycare alone is $3,200/month for two kids under four years old.

Another user broke it down like this: “If you have kids, $100K is closer to $50-60K.” They continued, “Insurance, groceries, and diapers alone will come out to several hundred more a month and we haven’t even talked about the medical bills or daycare.”

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Many emphasized that dual incomes are now a necessity. “That’s pretty easy with a double-income household. You simply need two people making $50K,” one Redditor said. But others countered that even then, it may not be enough once you factor in child care, student loans, or housing.

Families earning less than $100,000 often shared stories of struggling to make ends meet. One person in a four-person household that earns $70,000 said, “I still want to believe I’m middle class, but I’m kinda poor.”

The bottom line is that while it may be true that many families with three or four people earn six figures, it doesn’t mean they’re living comfortably. It used to mean success. Now it just means you’re not drowning.

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This article Most US Families With Kids Earn Over $100,000. But With Inflation, ‘$100K Today Is $50K In 2000’ originally appeared on Benzinga.com

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