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Nearly one in three people in Cyprus is living on a low income, and about one in seven is at risk of poverty, according to new figures released Monday by the Statistical Service.
The data paints a clear picture of a country where most people fall into the middle class, but a sizeable chunk are either barely getting by or falling behind.
According to the report, 27.8% of the population is classified in the lowest income bracket, while just 7.6% sit at the top. The rest, about 64.6%, make up the middle-income class, which remains the backbone of Cypriot society.
Still, the warning signs are hard to ignore.
Poverty risk still high
The Statistical Service estimates that 14.6% of the population, around 140,000 people, are at risk of poverty, meaning their disposable income is €12,400 or less per year. That’s the threshold used to measure who is financially vulnerable.
To put things in perspective, the national median income for 2024 is €20,666.
Anyone earning less than 75% of that amount, about €15,500 or less, is considered part of the lower income class. Those earning more than double the median income fall into the top bracket.
Who earns what?
- Lowest income group (27.8%): Disposable income up to €15,500
- Middle income group (64.6%): Median income around €23,517
- Highest income group (7.6%): Median income jumps to €51,316
Even within the middle class, the gap is wide. Some earn just over €15,500 a year, while others bring in more than €41,000, showing how stretched the term “middle class” has become.
Workers, pensioners and pressure
The data also breaks down who is feeling the squeeze:
- In the lowest income group, about 36.6% are workers and 35.9% are pensioners.
- In the middle and upper classes, workers dominate, making up nearly 70% or more.
Age plays a role too. Nearly one-third of people in the lowest income group are over 65, while children and young people also make up a significant share.
Falling behind on rent and loans
Perhaps the most telling statistic is this: 27% of people in the lowest income bracket fell behind on rent or mortgage payments in 2024.
That compares with:
- 9.9% in the middle-income group
- Just 3% in the highest-income group
It’s a sharp reminder that for many households, especially at the bottom, monthly bills are no longer just tight; they’re overwhelming.
Middle class still dominant, but fragile
The Statistical Service notes that the middle class has consistently made up more than 60% of the population, except in the years following the financial crisis. In 2024, it still holds firm at 64.6%.
But with living costs rising and more people slipping behind on basic payments, the data suggests that financial stability in Cyprus is far from evenly shared, and for many families, the margin for error is getting thinner by the year.
