Even U.S. households earning more than $150,000 a year live paycheck to paycheck, according to a new analysis from Bank of America.

The company said that about 1 in 5 – or about 20% – of households earning well over six figures spend more than 95% of their income on necessities such as food, utilities, housing and transportation , which she defines as a living wage.

According to the analysis, the largest group seen living paycheck to paycheck was households earning less than $50,000 a year, accounting for 35% of those increasing their income.

But even as income levels rise, the number of people living paycheck to paycheck varies only slightly, the report says.

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According to Bank of America, there could be several reasons for this.

The first is that higher-income households might have purchased more, forcing them to have larger mortgages, higher insurance costs and taxes, and higher utility bills.

“It is also possible that as household incomes increase, some households will have more varied and difficult to capture sources of income – such as cash from the sale of stocks paid into a brokerage account,” says the ‘analysis.

According to the report, the number of households with paycheck to paycheck also increases with age, peaking among baby boomers.

People living in what Bank of America calls the South Atlantic region – Washington, Delaware, Maryland, Virginia, West Virginia, North Carolina, South Carolina, Georgia and Florida – have the highest number of checking households payroll, according to the analysis. declared.