When $350,000 isn’t enough: What it means to be wealthy in LA

Some household budgets of America’s upper middle class have gone viral. People who earn $200,000 to $300,000 per year are claiming they’re tapped out and struggling to scrape by. It sounds absurd, especially if you’re from parts of the country where $100,000 can buy a nice house in a good neighborhood. 

But in places like Los Angeles, New York, and San Francisco, quarter-million dollar budgets can be stretched thin. That shows how unaffordable these cities have become for everyone, not just the working class.