Even Americans earning more than $155,000 now call themselves ‘working class’—a sign of how far the affordability crisis has spread

Sixty percent of Americans identify as “working class”—including millions of top earners who believe their economic struggles now match a term long reserved for low-income workers.

A new Pew Research Center analysis , based on a survey conducted in January 2026, found that 60% of U.S. adults say the term describes them well, and half of college graduates agree.

“Working class” has long been an ambiguous label for low-income earners, people without four-year degrees, and blue-collar workers.

But according to the study, half of upper-income adults—those earning above $155,600 annually—now also see themselves as working class.

That income would have placed them firmly in the upper middle class in the early 2000s.

The numbers were up across the board from just two years ago, when the Pew Research Center’s 2024 study found that 54% of Americans identified with the term “working class.” Researchers found that the 6-point uptick held across many demographic, socioeconomic, and political groups.

Even wealthier and more educated people have begun to feel the squeeze as inflation continues to erode Americans’ paychecks while wage growth fails to keep up.

Ordinary purchases like groceries have become harder to afford, putting the American Dream more out of reach than ever.

Affordability has become a major talking point in the run-up to the November midterms, with each party trying to court working-class voters.

The cost of living has been a primary concern for voters who have watched their gas bills rise after the Iran war sent gasoline and diesel prices to record highs .

Middle-income and even high earners may now feel their experiences mirror struggles traditionally associated with the “working class,” as milestones like homeownership have become even harder to achieve.

A study by Investopedia found that achieving the American Dream—a house in the suburbs, two children, and a car—costs $4.4 million, more than $1 million more than most Americans will earn in their lifetimes.

The median price of a new single-family home in the first quarter of 2026 was $403,200, according to the National Association of Home Builders.

This marks the fourth consecutive quarter in which existing home prices have exceeded new home prices.