Reply to Is a family in DC making $200k "wealthy"?

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[quote=Anonymous]Assuming a family has two children under 4--so you have to pay for childcare for two children--a family in DC is expected to pay $3300K/month. This is based upon what the federal gov't thinks is an allowable price for full-time daycare (according to their own daycare center costs.) Now, what kind of income would enable a family to pay that kind of money and rent a reasonable size home (3/2) in a good school district? Assuming average debts from college/graduate school and no consumer debt?

I think that in DC, where you can have two feds (GS-12/13) each earning $100K with 2 kid in public school, they would be OK but definitely not wealthy. They would be financially tight affording two in daycare, but they could do it--barely. This would be a professional class family where two families have to work in order to rent a reasonable size home (3/2) in a good school district in DC. There's enough debate around the $200K figure to say that it is not the mark of wealth.

However, I think that once you move to $500K HHI/Year, there is decidedly less argument that that constitutes wealthy--even with DC's cost of living. [/quote]

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