Check this out. Last year, 739 12th graders in the US broke 50:
http://www.athletic.net/TrackAndField/Division/Event.aspx?DivID=70949&Event=3&filter=12&page=7, but only 51 broke 48.
2 broke 46.00 [2]
14 broke 47.00 [12]
51 broke 48.00 [37]
255 broke 49.00 [204]
739 broke 50.00 [484]
1550 broke 51.00 [811]
2683 broke 52.00 [1133]
3431 broke 52.50 (go all the way to page 34)
Compared to college:
1 broke 45.00
33 broke 46.00
126 broke 47.00
384 broke 48.00
770 broke 49.00
The world top 161 are all under 46.00:
https://www.iaaf.org/records/toplists/sprints/400-metres/outdoor/men/senior/2016. Notably, 54 (33.5%) are from the USA.
In some ways these lists are incomparable. The high school list includes many athletes who will never run in college, the college list includes many athletes who did not go to high school in the USA, and the world list includes athletes from a much broader pool since even the college list, even though it draws internationally on talent, is highly USA-centric. Furthermore, there is a filtering of the population respectively from high school to college to world, since most high school students will not run in college and most college runners will not compete against the world. In fact, I'll ignore the collegiate stuff for the rest of this post, and instead look at the progression from HS age to elite-level, and then extrapolate that progression to current US high school students to estimate the population of sub-50 potential people in the US as a percentage.
I couldn't find the HS times for any of the top guys...
WVK ran 45.09 as a 21-year old (and improved by 2.06 to today)
MJ ran 45.23 as a 21-year old (and improved by 2.05 to his WR).
Kirani James ran 45.24 as a 17-year old
Machel Cedenio at 20 has run 44.01. At 18 he was 45.13.
Cedenio is the genetic freak of this bunch, fwiw, but the other guys seem to have improved about 2 seconds from their teens, or a bit less than 5%. If we assume that the current crop of HS seniors would also improve by 5% if given access to elite training focused on 400m performance, then the HS equivalent of 52.5, when improved by 5%, is 50 seconds. Looking down to the cutoff for seniors running 52.5, that's 3431 American HS athletes who could potentially break 50.
In 2010 there were roughly 10.6 million young men aged 10-14. Evenly divided by the 5-year age groups gives us about 2.1 million who would be 18 this year, so the 3,431 male HS seniors who have posted a 52.5 or better come from a population of 2,100,000 18-year old males. That's 0.16%. Granted, not every elite athlete runs track. You can argue that one. There a lot of errors here and a lot of assumptions, but this crude break-down can provide a strawman to break down and reason from with respect to pure numbers vs. percentages. I'm going to hazard a guess and say it's