6 Cars the Middle Class Can’t Afford Anymore

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Unless you’ve been living on a mountaintop for the last few years, you know that the price of just about everything has been going up like a rocket.

While it seems that the rate hikes carried out by the Federal Reserve have finally started to cool inflation, that doesn’t mean that prices are coming down — just that they aren’t going up as quickly as they were. Rising prices may be purely the result of macroeconomic factors, or of businesses seizing the opportunity for price increases. Whatever the case, the end result is that the purchasing power of the average person has fallen dramatically over the last few years.

This is especially true of automobiles. In fact, data from the U.S. Bureau of Labor Statistics shows that vehicle prices for both new and used cars have risen higher and faster since 2020 than at any other time in nearly four decades. Moreover, data from auto website, Edmunds, shows that the average price of a new car has risen from $36,000 to $48,000 over the last five years, which is a staggering $12,000 increase.

When prices rise so much faster than wages, people are starting to get priced out of the market. Here’s a look at a few cars that, while once considered attainable for the middle class, have climbed out of reach.

Honda Civic Si

• MSRP: $31,095

The Honda Civic is a well-regarded, family car known for its sleekness and security. As a sport-compact sedan with excellent driving capabilities, there’s a lot to rave about with the ever-reliable Honda. However, the price might be a little out of the easily affordable range for many people, especially when Car and Driver admitted to wanting a little extra power.

Ford Mustang

• MSRP: $32,515

The Ford Mustang, an emblem of American muscle and performance, has long been a symbol of affordable sports cars, but there’s a chance it won’t be for much longer. The base model EcoBoost coupe is probably within the grasp of at least some middle-class buyers, but it goes up very quickly from there. If you want a convertible, for example, that base jumps up to just over $39,000 in starting price, which is hardly entry-level.

Acura Integra

• MSRP: $34,195

The Integra is a fun and sporty ride; it’s no wonder that it’s also an incredibly popular car. Car and Driver gave this model in particular high praise for its steering quality, practicality and its six-speed manual transmission. Still, the price tag is a little high for many buyers, especially those on an entry level salary.

Nissan Pathfinder

• MSRP: $37,175

The SUV has become incredibly popular in America over the last couple of decades, freeing buyers from the lameness factor of minivans, albeit at the cost of some of the seating and cargo space. A classic mid-range SUV like the Nissan Pathfinder isn’t exactly the sort of vehicle you’d brag about owning at a party, but its price doesn’t reflect that, once again starting close to $40,000 for the very base model. The popular Platinum trim level starts at just over $50,000 — out of reach for most, if not all, middle-class households.

Buick Envision

• MSRP: $37,895

Buick is a classic American car, well known for being well made, and the Envision invites you to envision a durable, attractive and spacious four door SUV. However, the price tag is a bit too steep, especially when Car and Driver noted some issues with the power, driver engagement and a less than upscale interior.

Honda Odyssey

• MSRP: $39,185

Perhaps no vehicle screams middle-class quite so much as the family minivan. While many buyers still cringe at the thought of owning one, there’s no arguing that they’re one of the best ways to get your family — and all your stuff — from point A to point B. While Honda’s Odyssey is a reliable and spacious option, with a starting price of nearly $40,000, it has become unaffordable for many middle-class households.

Final Take To GO

While there are obviously still plenty of budget cars out there available for purchase, it’s alarming to see that many of the vehicles once considered modest (or at least not over-the-top) have become unattainable to the average buyer. With inflation finally cooling off, it’s possible that prices may come down over the next year or two, but it’s just as likely that most, if not all, of these vehicles may never be considered middle-class again.

James Holbach contributed to the reporting for this article.

Editor’s Note: All price data was sourced from Edmunds and is accurate as of Nov. 1, 2024. Pricing and availability are subject to change.

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