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Immigration See other Immigration Articles Title: Me, rich? HereÂ’s what Palo Altans think about themselves (Median income 137K and home $2.67 Million) Local survey shows some surprising views residents of this tony town have of themselves Those of us who live outside of Palo Alto’s city limits see this peninsula burg as a bastion of the high-income, the smart-as-heck and the real-estate upper crust. Turns out many residents of the town see themselves otherwise. The Palo Alto Weekly recently asked residents to do a little introspection. The results, and especially the comments people submitted, were surprising. Most Palo Altans see themselves as — hold on to your hat– members of the middle class or even lower class. As the Weekly points out, Palo Alto’s median household income is $137,043, which is more than twice as much as the U.S. at large, but still not remotely enough to buy a new house there. Median home sale prices reached an all-time high at $2.67 million in 2017. “But this vision of a foie-gras-nibbling, tree-lined paradise doesn’t necessarily match the reality of those living here who are just trying to make ends meet in one of the most expensive communities in the nation,” says the Weekly’s report. Yes, rents have skyrocketed in recent years, along with housing prices. And, yes, the picturesque town is crawling with high-tech luminaries like Mark Zuckerberg and billionaires like Steve Jobs’ widow, Laurene Powell Jobs. Still, they mostly don’t consider themselves up there above the rest of us. For 2016, the national middle class encompassed those earning between $38,411 and $115,224 annually, said the report. In Palo Alto, the range was between $91,362 and $274,086 for 2016, with an average household size of 2.4 people. (The U.S. Census Bureau considers local median income and costs to derive middle class figures by city.) “Income alone does not determine who is in the middle,” the Weekly points out. “Palo Alto residents say educational attainment, culture and spending choices, for example, also factor into the self-identification. One respondent with a household income between $250,000 and $300,000 for a family of four wrote that his family is upper-middle class because they don’t spend more than $500 in a single purchase — except for four weeks of travel each year, housing, their children’s activities and $1,700 each month on farmers market food.” The Weekly received 250 anonymous responses to its survey. When asked “How do you define your social class?” here are some of the answers people gave: Upper middle class Seventy-five identified themselves as “upper middle class.” Their self-reported incomes ranged from $50,000 to $400,000 or more (with one retiree reporting $35,000-$49,999). ● “We do not have to worry about staying afloat financially, so we can put our money toward health, education, and comfort.” ● “Upper middle class. Former professor, advanced degrees.” ● “The income is actually pretty high, but it is a single income with two kids. A huge bulk of it is spent on things like college or the mortgage, so there’s less disposable income for luxuries and buying food and buying clothes. My peers do that a lot more, and even some with lower incomes.” ● “Upper middle class – we are probably “rich” by some people’s definition but definitely don’t have a fancy lifestyle (one house, basic cars, no fancy vacations or extravagant purchases).” Middle class Eighty-one people considered themselves “middle class.” Their self-reported incomes ranged from $10,000 to $399,999. ● “We’re comfortable and never want for healthy food or clean clothing. It can be difficult to afford necessities like child care.” ● “Probably middle class, but not anywhere close to being able to afford a house.” ● “In this area, it feels like middle-of-the-road middle class, but where I’m from, I’d own a house and be in the upper middle class.” ● “Here in Palo Alto, I feel a bit below the norm, but still middle class. I have two degrees from Stanford, but neighbors on either side of me have PhDs. Hence the slight feeling of inferiority.” Lower middle class Seventeen considered themselves “lower middle class” or “working class.” Their self-reported income ranged from $35,000 to $349,999. ● “I’ve lived in Palo Alto my whole life. Only get to stay here because the house is paid off.” ● “We are not homeless or go hungry at night, but we sometimes do live paycheck to paycheck and have to budget if we make unexpected purchases.” ● “If asked I would probably say I’m poor. I can’t afford the things that others around me take for granted. I have to be very careful with my money.” Upper class Four reported being in the “upper class,” three of whom reported earning $400,000 a year or more (the fourth is retired). No answer: Eighty-nine people declined to answer the question or wrote their own answers, including that they were “disenfranchised,” “former middle class” and “survivors in an unjust capitalist society.” Post Comment Private Reply Ignore Thread
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