Valley economist discusses shrinking middle class, housing and inflation
It’s getting more difficult to be considered middle class in Arizona, according to a consultant interviewed on KTAR radio. Jim Rounds of Rounds Consulting Group said two earners need to pull in $75,000 a year to be considered middle class given the “extra burdens” these days such as housing costs. But the median household income in Arizona was $72,581 from 2018-2022, according to the U.S. Census. “We have to build more affordable homes,” Rounds said. “Not everybody can go buy the median price home, nor should you expect them to be able to.”
