Iowa is best state for the middle class, says new study

(DES MOINES) – Iowa is the best state in the nation for the middle class, according to a new study from GOBankingRates.

The study’s authors analyzed the following data in each state:

·         Income trends: includes change in median household incomes of middle class families from 1999 to 2014 and change in proportion of households earning middle class incomes

·         Higher education trends: includes college graduation rate, as well as tuition and fees and five-year change in tuition

·         Housing trends: includes median home list price, estimated monthly mortgage payment and homeownership rate

Here’s how Iowa fared:

·         Median household income of middle class families: $75,953

·         Median household income change of middle class: -3.8%

·         In-state tuition and fees: $8,270

·         College graduation rate: 66.3%

·         Monthly mortgage payment: $787

·         Homeownership rate: 69.9%

The study said of Iowa:

“Iowa tops GOBankingRates' list of the best states for the middle class, ranking high for almost all the metrics analyzed.