This is how much money it takes to be at "moderate income" on the Central Coast (2024)

FAQs

What is moderate income in California? ›

According to Covered California income guidelines and salary restrictions, if an individual makes less than $47,520 per year or if a family of four earns wages less than $97,200 per year, then they qualify for government assistance based on their income.

Moderate-income individuals have an annualized family income between 50% and 80% of the HUD area median income. Low-income individuals have an annualized family income of less than 50% of the HUD area median income. Median incomes for every county in the United States can be found on HUD's website.

Low income (relative income less than 50%) Moderate income (relative income 50% to less than 80%) Middle income (relative income 80% to less than 120%)

Extremely low income: 15-30% of AMI. Very low income: 30% to 50% of AMI. Lower income: 50% to 80% of AMI; the term may also be used to mean 0% to 80% of AMI. Moderate income: 80% to 120% of AMI.

Most single individuals will qualify for Medi-Cal if there income is under $1,676 per month. Most couples will qualify if their income is under $2,267 per month. If you have disabilities, your income can be slightly higher. You can qualify for Medi-Cal even if you have assets.

The limits are based on both household income and household size. In 2024, an individual in a one-person household is eligible for some degree of Covered California subsidies if they earn up to $33,975 Meanwhile, that limit rises to $69,375 for a household size of 4.

Very low income is defined as not more than 50 percent of the area median income. Lower income is defined as not more than 80 percent of the area median income. Moderate income is defined as not more than 120 percent of the area median income.

Is 30k a year poverty? ›

The Poverty Threshold in 2024

The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps). Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year.

These guidelines are adjusted each year for inflation. In 2023, the federal poverty level definition of low income for a single-person household is $14,580 annually. Each additional person in the household adds $5,140 to the total. For example, the poverty guideline is $30,000 per year for a family of four.

Chicago style renders this phrase“low- to moderate-income families,” and others hyphenate it as “low-to-moderate-income families,” but this level of hyphen usage is subtle enough that it's not surprising that you don't find it consistently applied.

According to the Pew Research Center report, the median 2022 household income for a three-person household is as follows for each income tier: Upper-class household: $256,920, a 78% increase from 1970. Middle-class household: $106,092, a 60% increase from 1970. Lower-class household: $35,318, a 55% increase from 1970.

If you make between $30,001 to $58,020, you are in the second quintile and are in the lower middle class. If your earnings are $30,000 or under, you're in the lowest quintile and would typically be considered to be in the lower class based on your income.

More Definitions of Moderate income

Moderate income means gross household income adjusted for family size that is at or below 115 percent (115%) of Area Median Income, but more than Eighty percent (80%) of Area Median Income.

In 2022, the median household income in California amounted to 85,300 U.S. dollars. This is an increase from the previous year, when the median household income in the state was 81,575 U.S. dollars.

While California ranks third-most expensive for a single adult to live comfortably at $113,652, it only ranks fifth-most expensive for two working adults raising two children. The total family income should be at least $276,724 in the latter case.