People are much more specific about their place in society. When yeomen get a little money, they tend to buy land, which makes them landowners. If the family are provident and continue to acquire and hold the land for at least three generations, they will come to be counted among the gentry. Craftsmen or tradesmen may be considered equivalent to the yeoman class. Town people of any rank consider themselves superior to country people of the same rank.
Peasants are tenants who work on someone else's land for wages.
They pay rent in money but mostly in kind and in services. They are often in debt. Their employers are often yeoman farmers. Town people who are ordinary laborers are more or less of the equivalent class. Knights are not noble but they are gentry.