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 | De Soto Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,531 | $60,029 | $78,145 |
| Median Personal Income | $53,858 | $54,233 | $61,726 |
| Average income growth | 1.4% | 4.0% | 5.1% |
| Six-Figure Earners | 7.4% | 9.4% | 13.2% |
The median household income in De Soto Parish is about 22% lower than in Louisiana. Income has been growing slower in De Soto Parish (1.4%/yr) than in Louisiana (4.0%/yr).
About 7% of adults in De Soto 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 De Soto Parish, Louisiana grew by 27.0% from 2009 to 2023, reaching $46,531 in 2023. That's an average of about 1.4% per year.
Economic Inequality in De Soto Parish | Gender Pay Gap | Gini Coefficient
| Metric | De Soto Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.577 | 0.586 | 0.570 |
| Male Median Income | $66,177 | $63,825 | $67,746 |
| Female Median Income | $39,387 | $46,053 | $54,793 |
| Gender Pay Gap | 40.5% | 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 De Soto Parish, it is 0.577, 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 68% more than women's income in De Soto Parish, Louisiana. Over a 35-year career, a 68% wage gap accumulates to roughly $937,650 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in De Soto Parish, Louisiana has widened from about 29% to 40% in 2023. In dollar terms, the gap has widened by $14,979 since 2009.
Employment
| Metric | De Soto Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 6.3% | 5.2% |
| Working from Home | 3.5% | 7.2% | 13.4% |
| Commute time (minutes) | 27 | 21 | 22 |
Approximately 664 people are unemployed in De Soto Parish, Louisiana.
The average commute time in De Soto Parish is 27 minutes, longer than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in De Soto Parish, Louisiana has fallen from 10.6% to 6.1% in 2023.
Conclusion
Considering all these factors, De Soto 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 De Soto Parish, Louisiana.
How Rich Is De Soto Parish, Louisiana?
De Soto 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 $46,531, about 22% lower than the Louisiana average of $60,029.
What is the current median household income in De Soto Parish, Louisiana?
As of 2023, the median household income in De Soto Parish, Louisiana is $46,531.
What was the median household income in De Soto Parish in 2023?
In 2023, the median household income in De Soto Parish, Louisiana was $46,531.
What was the median household income in De Soto Parish in 2020?
In 2020, the median household income in De Soto Parish, Louisiana was $44,353.
What is the Gini coefficient in De Soto Parish, Louisiana?
The Gini coefficient in De Soto Parish is 0.577. 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 De Soto Parish, Louisiana?
Since 2009, the income gap between men and women in De Soto Parish, Louisiana has widened from about 29% to 40% in 2023. In dollar terms, the gap has widened by $14,979 since 2009.