Hawaii's middle class being squeezed out, study says - Hawaii News Now - KGMB and KHNL

Hawaii's middle class being squeezed out, study says

(Image: Hawaii News Now/file) (Image: Hawaii News Now/file)
HONOLULU (HawaiiNewsNow) -

Hawaii is the worst state for the middle class.

That's the conclusion of a GoBankingRates.com analysis, which pointed to the state's high cost of living, low homeownership rate and decline in the number of middle class families since 1999.

The median household income for middle-class families in Hawaii is $74,529.

And the percentage of Hawaii families that fall into the middle class has declined about 4 percent since 1999, the review said.

Meanwhile, Hawaii's homeownership rate is 53.7 percent. That's the second-lowest rate in the nation.

The Pew Research Center defines middle-income households as those with an income that is two-thirds to double the U.S. median household income. 

Massachusetts was named the second-worst state for the middle class. California took the no. 3 spot.

The best states for the middle class: Iowa, South Dakota and West Virginia.

To see the full analysis, click here.

Copyright 2017 Hawaii News Now. All rights reserved.

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