Do Young Men Need $1 Million to Live a Middle-Class Lifestyle?

Dave Smith’s claim that young men need to earn about $1 million a year to live a middle-class life is an exaggeration in general, the writer argues. But it reflects real pressures facing young people who move to expensive cities for work and hope to start families.

The article says Michigan’s median household income is about $65,000, and a home there typically costs $200,000 to $300,000; housing is cheaper in some other states. In costly cities, however, constrained housing supply, childcare and education expenses can make family life feel out of reach. The writer also notes that many consumer goods have become more affordable, while arguing that policies should better support younger adults and families.