Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Caddo Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,975 | $60,029 | $78,145 |
| Median Personal Income | $49,421 | $54,233 | $61,726 |
| Average income growth | 3.0% | 4.0% | 5.1% |
| Six-Figure Earners | 7.7% | 9.4% | 13.2% |
The median household income in Caddo Parish is about 17% lower than in Louisiana. Income has been growing slower in Caddo Parish (3.0%/yr) than in Louisiana (4.0%/yr).
About 8% of adults in Caddo Parish earn six figures ($100,000 or more) a year, lower than the Louisiana average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Caddo Parish, Louisiana grew by 37.8% from 2009 to 2023, reaching $49,975 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Caddo Parish | Gender Pay Gap | Gini Coefficient
| Metric | Caddo Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.578 | 0.586 | 0.570 |
| Male Median Income | $56,226 | $63,825 | $67,746 |
| Female Median Income | $43,674 | $46,053 | $54,793 |
| Gender Pay Gap | 22.3% | 27.8% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Caddo Parish, it is 0.578, lower than Louisiana's 0.586, so income is more evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 29% more than women's income in Caddo Parish, Louisiana. Over a 35-year career, a 29% wage gap accumulates to roughly $439,320 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Caddo Parish, Louisiana has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $1,583 since 2009.
Employment
| Metric | Caddo Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.3% | 6.3% | 5.2% |
| Working from Home | 5.4% | 7.2% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 8,652 people are unemployed in Caddo Parish, Louisiana.
The average commute time in Caddo Parish is 18 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Caddo Parish, Louisiana has fallen from 8.7% to 8.3% in 2023.
Conclusion
Considering all these factors, Caddo Parish, Louisiana has an overall wealth index grade of D, making it about on par with Louisiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Caddo Parish, Louisiana.
How Rich Is Caddo Parish, Louisiana?
Caddo Parish has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $49,975, about 17% lower than the Louisiana average of $60,029.
What is the current median household income in Caddo Parish, Louisiana?
As of 2023, the median household income in Caddo Parish, Louisiana is $49,975.
What was the median household income in Caddo Parish in 2023?
In 2023, the median household income in Caddo Parish, Louisiana was $49,975.
What was the median household income in Caddo Parish in 2020?
In 2020, the median household income in Caddo Parish, Louisiana was $42,477.
What is the Gini coefficient in Caddo Parish, Louisiana?
The Gini coefficient in Caddo Parish is 0.578. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Caddo Parish, Louisiana?
Since 2009, the income gap between men and women in Caddo Parish, Louisiana has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $1,583 since 2009.