How ‘Middle Class’ Has Changed Over the Years
Being middle class has traditionally been associated with a cushy lifestyle — one where you’re not living month to month and can afford to take annual family vacations. But the definition of what constitutes being part of this class has shifted with time.
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“The concept of the middle class has evolved significantly over the years, reflecting changes in society, economy, and culture,” said Jon Morgan, the CEO and Editor-in-Chief of Venture Smarter.
“In the past, being middle class was often associated with stable employment, homeownership, and a comfortable lifestyle,” he explained. “However, as the world has become more interconnected and industries have shifted, so too has the definition of the middle class.”
Here are some of the ways experts say it’s evolved.
One Income Is No Longer Enough
A “middle class” family these days typically requires two incomes, whereas it used to only require one, said Carter Seuthe, the CEO of Credit Summit.
“Just a few decades ago, the average family could be fully supported by one income from one parent, while the other could stay at home and raise the kids. And, one income was enough to buy a home,” he continued.
“These days, in many places, two incomes might not even be enough to afford a decent apartment, let alone afford a home and the cost of childcare.”
Homeownership Has Decreased
According to Martin Orefice, CEO of Rent To Own Labs, one of the biggest ways that the definition of “middle class” has changed is around homeownership.
Orefice added, “Especially for Millennials and Gen Z, homeownership rates are much lower, as home prices have risen much faster than inflation for many years and these generations are saddled with much more debt from things like college loans.”
In more expensive housing markets, Orefice said your average middle-class person is now much more likely to be a renter than a homeowner.
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Reliance On The Gig Economy
“Today, being middle class is less about owning a house with a white picket fence and more about financial security and access to opportunities,” said Morgan.
“For example, in the gig economy era, many individuals may not have traditional 9-5 jobs or own homes, yet they can still be considered middle class if they have a stable income, health insurance and the ability to save for the future.”
He said this shift is evident in the rise of freelancers, remote workers and digital nomads who prioritize flexibility and autonomy over traditional markers of success.
Lisa Rehurek, the CEO and founder of The RFP Success Company, agrees that the rise of the gig economy has further muddied the waters, with individuals straddling the divide between working class and middle class based on fluctuating earnings streams.
“Middle class has undergone a significant transformation throughout the decades,” said Rehurek.
Education and Healthcare Are Harder To Afford
Being middle class isn’t just about how much money you make anymore — it’s also about having access to things like healthcare and education that make life fulfilling.
The rising cost of education and healthcare has reshaped what it means to be middle class, according to Morgan.
“In the past, a college degree was seen as a ticket to upward mobility, but now many middle-class families struggle with student loan debt and the burden of rising tuition costs.”
Similarly, he added that access to affordable healthcare has become a defining factor of middle-class status, as medical expenses can quickly derail financial stability.
Higher Education Has Become Essential
Tom Bruzek, land selling specialist at Selling Land Fast, said, “Back in the day, being middle class was all about stability, owning your own home and enjoying a decent standard of living. But things have changed a lot since then.”
One big change is how important education has become.
“It used to be that a high school diploma could pretty much set you up for a middle-class life,” continued Bruzek. “But now, you often need more than that — like a college degree or some specialized training — to land those well-paying jobs.”
He explained, “Nowadays, people with higher education levels are more likely to be seen as middle class, while those without might struggle to keep up financially.”
Housing Costs Are Higher
“What was once a relatively straightforward categorization based on a single income’s ability to comfortably support a family has become increasingly nuanced,” said Rehurek.
She noted that geographic location and the evolving costs of living now heavily influence perceptions of middle-class status.
“In metropolitan areas, households earning six figures may struggle with a middle-class lifestyle due to exorbitant housing prices,” added Rehurek. “Families at the national median income level in smaller cities could be solidly entrenched in the middle class.”
Bruzek agreed, saying, “Don’t even get me started on the cost of living! Especially in big cities, it’s crazy expensive. What used to be considered a middle-class income might not even cover rent in some places.
“So, even if you’re making what would have been a good living years ago, you could still feel like you’re barely keeping your head above water.”
Sustainability Has Become a Middle-Class Value
Interestingly, according to experts, the definition of the middle class is increasingly intertwined with values around sustainability.
Often middle-class families are more invested than ever in sustainable living, viewing it as a moral and economic choice.
This shift towards valuing long-term environmental sustainability over short-term gains reflects a broader change in middle-class priorities.
Debt and Financial Stability Are Challenges
Rising levels of debt, particularly student loan debt and mortgage debt, have become significant challenges for many middle-class families.
Many experts note that the ability to manage debt and achieve financial stability while maintaining a comfortable standard of living is now viewed as a key aspect of being considered middle class.
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This article originally appeared on GOBankingRates.com: How ‘Middle Class’ Has Changed Over the Years
