Yep. For less than that amount I had a floor of a brownstone in Brooklyn, 20-30 minute commute via subway, paid off 10 year student loans in < 1 year, took my entire family on a vacation, and went out to dinner at a variety of nice restaurants on a fairly regular interval. I also saved up 30K in liquid assets (Although that includes some cash from 1-2 years before).
It's that's "only" middle class, the world is in serious trouble.