Moderate Income Definition: 267 Samples | Law Insider (2024)

FAQs

What is meant by moderate income? ›

Extremely low income: 15-30% of AMI. Very low income: 30% to 50% of AMI. Lower income: 50% to 80% of AMI; the term may also be used to mean 0% to 80% of AMI. Moderate income: 80% to 120% of AMI.

Chicago style renders this phrase“low- to moderate-income families,” and others hyphenate it as “low-to-moderate-income families,” but this level of hyphen usage is subtle enough that it's not surprising that you don't find it consistently applied.

These income levels can be further separated by low- or moderate-income. Moderate-income individuals have an annualized family income between 50% and 80% of the HUD area median income. Low-income individuals have an annualized family income of less than 50% of the HUD area median income.

Low income (relative income less than 50%) Moderate income (relative income 50% to less than 80%) Middle income (relative income 80% to less than 120%) Upper income (relative income of 120% or higher)

Very low income is defined as not more than 50 percent of the area median income. Lower income is defined as not more than 80 percent of the area median income. Moderate income is defined as not more than 120 percent of the area median income.

The World Bank Group assigns the world's economies[1] to four income groups – low, lower-middle, upper-middle, and high.

A low-income community means there is a median family income of less than 50 percent of the area median income. A moderate-income community means that the median family income is at least 50 percent and less than 80 percent of the area median income.

The moderate-income category consists of census tracts where the median family income of the census tract is at least 50% and less than 80% of the decennial MSA median family income.

For an individual, the poverty threshold is $14,891. The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps).

Is 30k a year poverty for a single person? ›

In 2023, the federal poverty level definition of low income for a single-person household is $14,580 annually. Each additional person in the household adds $5,140 to the total. For example, the poverty guideline is $30,000 per year for a family of four.

CRA classifies as low-income those geographies having a median family income of less than 50 percent of the area median income, and moderate-income those geographies having a median family income of at least 50 percent and less than 80 percent of the area median income.

adjective. of or relating to those with a close-to-average income within the overall population.

One study said happiness peaked at $75,000 in income.

As of 2022 (the most recent Census data), the average median household income in the U.S. was $73,914, meaning the national range for the middle class is roughly $49,271 to $147,828. Across the nation's largest cities, the range is between $51,558 and $154,590, according to SmartAsset.

of or relating to those with a close-to-average income within the overall population.

In 2018, the national middle-income range was about $48,500 to $145,500 annually for a household of three. Lower-income households had incomes less than $48,500 and upper-income households had incomes greater than $145,500 (incomes in 2018 dollars).

Highlights. Real median household income was $74,580 in 2022, a 2.3 percent decline from the 2021 estimate of $76,330 (Figure 1 and Table A-1).