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household income. Total income from all people living in a particular household. Income refers not only to the salaries and benefits received but also to receipts from any personal business, investments, dividends and other income. Furthermore, household members do not need to be related to be part of a household.
At the top of the income classes is the upper class. There is no single definition of whom this includes. Many think of the upper class in terms of the 1%. To be in the richest 1% nationally, a household needs to have the annual income of at least $389,436, according to the Economic Policy Institute.