PRESS RELEASE North Carolina Retail Merchants Association (NCRMA) 209 Fayetteville St., Raleigh, NC 27601 Contact: Ann Edmondson…
Millennials Account for 1 in 5 Adults Living in Affluent Households
The majority of American “Affluents” (adults who live in households with at least $100,000 in annual household income) are Millennials and Generation Xers, per results from an Ipsos MediaCT study released in September. Specifically, one-third belong to Gen X (31-47), and another 1 in 5 are Millennials (aged 18-30). Boomers (48-66) account for the largest share of adults living in affluent households, though, at 39%, with Seniors (67+) taking up the remaining 8% share.
1 in 3 Hail From the South
While there is not much gender disparity among affluents (51% male, 49% female), there is more divergence on a geographic level. Southerners make up 33% of the affluent demographic, compared to 22% who reside in the Northeast, and 20% in the Midwest. 1 in 4 live in the West.
Overall, an estimated 59 million Americans qualify as affluents, living in households with a median income of $141,800, virtually unchanged from last year. The report finds that 1 in 4 US adults live in households with income of at least $100,000, citing US Census bureau data.