The Jacksonian Period (1824-1848) has been celebrated as the era of the “common man”. To what extent did the period live up to its characterization?

Jackson essentially ushered this period in on his own.
Jackson was “for the common man,” but not necessarily a common man himself. Jackson was a wealthy farmer that owned many slaves. However, he was the first president from the west and a war hero, and lacked a formal education. This definitely appealed to the “common man” narrative that a lot of people ate up.
Consider the Bank Wars of 1832, which involved Jackson battling supporters of the Second Bank of the United States over its future. Jackson felt that the bank favored the moneyed interests of the bank, at the expense of western farmers. Jackson used his presidential power to squash the bill in order to protect the well being of the western farmers.
Jackson also called for internal improvements, supported active government programs and reforms, built canals, roads, and telegraph lines, among many more things. He supported prisons, asylums, and schools. Overall, his ideals reflected those of the middle to lower class. Following Jackson, the Whigs brought about similar reform that benefited the common man.