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 | Iberia Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,219 | $60,029 | $78,145 |
| Median Personal Income | $49,644 | $54,233 | $61,726 |
| Average income growth | 3.4% | 4.0% | 5.1% |
| Six-Figure Earners | 7.3% | 9.4% | 13.2% |
The median household income in Iberia Parish is about 6% lower than in Louisiana. Income has been growing slower in Iberia Parish (3.4%/yr) than in Louisiana (4.0%/yr).
About 7% of adults in Iberia 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 Iberia Parish, Louisiana grew by 37.1% from 2009 to 2023, reaching $56,219 in 2023. That's an average of about 3.4% per year.
Economic Inequality in Iberia Parish | Gender Pay Gap | Gini Coefficient
| Metric | Iberia Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.586 | 0.570 |
| Male Median Income | $64,078 | $63,825 | $67,746 |
| Female Median Income | $40,661 | $46,053 | $54,793 |
| Gender Pay Gap | 36.5% | 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 Iberia Parish, it is 0.570, lower than Louisiana's 0.586, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 58% more than women's income in Iberia Parish, Louisiana. Over a 35-year career, a 58% wage gap accumulates to roughly $819,595 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Iberia Parish, Louisiana has narrowed from about 47% to 37% in 2023. In dollar terms, the gap has widened by $1,538 since 2009.
Employment
| Metric | Iberia Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 6.3% | 5.2% |
| Working from Home | 6.0% | 7.2% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 1,849 people are unemployed in Iberia Parish, Louisiana.
The average commute time in Iberia Parish is 20 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Iberia Parish, Louisiana has fallen from 7.8% to 6.1% in 2023.
Conclusion
Considering all these factors, Iberia 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 Iberia Parish, Louisiana.
How Wealthy Is Iberia Parish, Louisiana?
Iberia 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 $56,219, about 6% lower than the Louisiana average of $60,029.
What is the current median household income in Iberia Parish, Louisiana?
As of 2023, the median household income in Iberia Parish, Louisiana is $56,219.
What was the median household income in Iberia Parish in 2023?
In 2023, the median household income in Iberia Parish, Louisiana was $56,219.
What was the median household income in Iberia Parish in 2020?
In 2020, the median household income in Iberia Parish, Louisiana was $50,714.
What is the Gini coefficient in Iberia Parish, Louisiana?
The Gini coefficient in Iberia Parish is 0.570. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Iberia Parish, Louisiana?
Since 2009, the income gap between men and women in Iberia Parish, Louisiana has narrowed from about 47% to 37% in 2023. In dollar terms, the gap has widened by $1,538 since 2009.