A family group of four members needs to pay more than $766,000 into their home to avoid falling below the poverty line and $442,000 to avoid falling into destitution.
Above $1,157,084.74 and up to $3,702,671.15 are middle class families.
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In the City of Buenos Aires, according to data provided by the General Directorate of Statistics and Censuses of CABA, A typical family composed of a 35-year-old couple, both economically active and homeowners, with two boys aged 9 and 6, would need to earn $1,157,084.74 per month to be considered part of the middle class.. This value represents an increase of 13.71% in March compared to the previous month.
The classification of social strata established by the organization indicates that families with incomes of less than $442,238.67 are in a situation of indigence, that is, they do not have sufficient resources to cover the cost of a Basic Food Basket (CBA). Those whose income ranges between $442,238.67 and $766,146 are considered “non-indigent poor”, since they can cover food needs but are not enough to acquire a Total Basic Basket (CBT).
In the income range of $766,146 to $925,667.78, families are not considered poor but are in a vulnerable situation, since they can cover their basic needs but lack the ability to save and are close to the poverty line. Those with incomes greater than $925,667 but less than $1,157,084.73 are classified as “fragile middle sector”, since they are not at the limit of poverty but do not reach a sufficient income level to be considered fully middle class.
Above $1,157,084.74 and up to $3,702,671.15 are middle class families. Those with monthly incomes greater than $3.7 million are categorized as “well-off.”
It is important to highlight that these values correspond to the typical family of four people, used as a model for the statistics. However, basic needs vary depending on the composition of each household. For example, a retired couple would need $374,470 to cover a CBT, while a single home-owning and working man would require $144,996 for a CBA and $261,355 for a CBT. The variations also apply to other cases, such as a young couple with minimum income to avoid homelessness or the acquisition of their own home. In summary, basic needs vary depending on each particular situation.
Source: Ambito
