Wealth Index
Wealthier than 86% of counties in Louisiana
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 | Lafourche Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,085 | $60,029 | $78,145 |
| Median Personal Income | $55,321 | $54,233 | $61,726 |
| Average income growth | 2.8% | 4.0% | 5.1% |
| Six-Figure Earners | 8.3% | 9.4% | 13.2% |
The median household income in Lafourche Parish is about 5% higher than in Louisiana. Income has been growing slower in Lafourche Parish (2.8%/yr) than in Louisiana (4.0%/yr).
About 8% of adults in Lafourche 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 Lafourche Parish, Louisiana grew by 36.6% from 2009 to 2023, reaching $63,085 in 2023. That's an average of about 2.8% per year.
Economic Inequality in Lafourche Parish | Gender Pay Gap | Gini Coefficient
| Metric | Lafourche Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.578 | 0.586 | 0.570 |
| Male Median Income | $66,379 | $63,825 | $67,746 |
| Female Median Income | $43,288 | $46,053 | $54,793 |
| Gender Pay Gap | 34.8% | 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 Lafourche 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 53% more than women's income in Lafourche Parish, Louisiana. Over a 35-year career, a 53% wage gap accumulates to roughly $808,185 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lafourche Parish, Louisiana has narrowed from about 44% to 35% in 2023. In dollar terms, the gap has widened by $1,493 since 2009.
Employment
| Metric | Lafourche Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 6.3% | 5.2% |
| Working from Home | 4.0% | 7.2% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 2,411 people are unemployed in Lafourche Parish, Louisiana.
The average commute time in Lafourche Parish is 20 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lafourche Parish, Louisiana has risen from 4.7% to 5.4% in 2023.
Conclusion
Considering all these factors, Lafourche Parish, Louisiana has an overall wealth index grade of C, making it somewhat better than Louisiana, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lafourche Parish, Louisiana.
How Rich Is Lafourche Parish, Louisiana?
Lafourche Parish has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $63,085, about 5% higher than the Louisiana average of $60,029.
What is the current median household income in Lafourche Parish, Louisiana?
As of 2023, the median household income in Lafourche Parish, Louisiana is $63,085.
What was the median household income in Lafourche Parish in 2023?
In 2023, the median household income in Lafourche Parish, Louisiana was $63,085.
What was the median household income in Lafourche Parish in 2020?
In 2020, the median household income in Lafourche Parish, Louisiana was $54,106.
What is the Gini coefficient in Lafourche Parish, Louisiana?
The Gini coefficient in Lafourche 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 Lafourche Parish, Louisiana?
Since 2009, the income gap between men and women in Lafourche Parish, Louisiana has narrowed from about 44% to 35% in 2023. In dollar terms, the gap has widened by $1,493 since 2009.