The ability to afford basic needs and wants in line with living a “dignified life” in the U.S. is increasingly out of reach, new research finds, naming wage stagnation and soaring prices as factors driving unaffordability.

According to an analysis released by the Ludwig Institute for Shared Economic Prosperity (LISEP) last week, a “minimal quality of life” is out of reach for the bottom 60 percent of American households, or those with incomes of about $100,000 a year or less.

Researchers pinpoint stagnating wages and decreases in workers’ spending power as well as increases in costs as reasons for growing unaffordability. According to the researchers, the minimal quality of life has doubled since 2001, with 2023 seeing the largest single-year increase.

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