Here's a blog that showed the income distribution of cyclists is approximately the same as the incomes of the population as a whole.

http://daily.sightline.org/2011/04/04/who-bikes/

So much for people being priced out of cycling. I guess if you're the kind of person who needs the newest, latest, greatest bike-thingy then you may feel priced out, but a decent reliable bike is still pretty darned cheap.