Roughly half of Americans fall short of the annual income needed to cover their basic needs, according to new research.

A U.S. family with children needs about $145,000 in income to be considered economically secure, according to a March 16 report from the Urban Institute. About 49% of Americans live below that financial threshold, the nonpartisan think tank found.

In 2024 (the latest available data), the median household income for married couples in the U.S. was $128,700, U.S. Census data shows. 

Ingredients for economic security 

According to Urban's analysis, economic security today includes having enough money to pay for:

• Adequate food
• Clothing
• Housing 
• Health care
• Child care
• Transportation
• Postsecondary education 
• Student loan repayments
• Savings for emergencies and retirement
• Additional costs, such as for personal care products

The research comes as many Americans continue to feel the pinch of rising prices, with even some six-figure households saying they are struggling to pay for basics like utilities and health care.

While Urban's measure differs from the poverty rate, which measures extreme hardship, it signals that even people with good-paying jobs may still not be earning enough to feel as if they are thriving. 

Courtesy of CBS