U.S. Households Likely Can Support Spending As Economy Slows

After lagging both higher-income and lower-income households in recovering from the pandemic, middle-income households are poised to weather a possible slowdown in the economy later this year. According to Bank of America, U.S. Census data indicate that median household income was about $71,000 a year in 2021, and that 75% of households have an income of less than $130,000. However, that income level doesn’t tell the complete story for how many households behave.