Wealth Index
Less wealthy than 78% 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 | Richland Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,356 | $60,029 | $78,145 |
| Median Personal Income | $51,330 | $54,233 | $61,726 |
| Average income growth | 6.2% | 4.0% | 5.1% |
| Six-Figure Earners | 5.6% | 9.4% | 13.2% |
The median household income in Richland Parish is about 11% lower than in Louisiana. Income has been growing faster in Richland Parish (6.2%/yr) than in Louisiana (4.0%/yr).
About 6% of adults in Richland 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 Richland Parish, Louisiana grew by 49.8% from 2009 to 2023, reaching $53,356 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Richland Parish | Gender Pay Gap | Gini Coefficient
| Metric | Richland Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.604 | 0.586 | 0.570 |
| Male Median Income | $58,260 | $63,825 | $67,746 |
| Female Median Income | $41,518 | $46,053 | $54,793 |
| Gender Pay Gap | 28.7% | 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 Richland Parish, it is 0.604, higher than Louisiana's 0.586, so income is less 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 40% more than women's income in Richland Parish, Louisiana. Over a 35-year career, a 40% wage gap accumulates to roughly $585,970 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Richland Parish, Louisiana has narrowed from about 32% to 29% in 2023. In dollar terms, the gap has widened by $4,559 since 2009.
Employment
| Metric | Richland Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.4% | 6.3% | 5.2% |
| Working from Home | 5.0% | 7.2% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 700 people are unemployed in Richland Parish, Louisiana.
The average commute time in Richland Parish is 18 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Richland Parish, Louisiana has fallen from 12.6% to 8.4% in 2023.
Conclusion
Considering all these factors, Richland Parish, Louisiana has an overall wealth index grade of D, making it somewhat worse than Louisiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Richland Parish, Louisiana.
How Rich Is Richland Parish, Louisiana?
Richland 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 $53,356, about 11% lower than the Louisiana average of $60,029.
What is the current median household income in Richland Parish, Louisiana?
As of 2023, the median household income in Richland Parish, Louisiana is $53,356.
What was the median household income in Richland Parish in 2023?
In 2023, the median household income in Richland Parish, Louisiana was $53,356.
What was the median household income in Richland Parish in 2020?
In 2020, the median household income in Richland Parish, Louisiana was $40,633.
What is the Gini coefficient in Richland Parish, Louisiana?
The Gini coefficient in Richland Parish is 0.604. 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 Richland Parish, Louisiana?
Since 2009, the income gap between men and women in Richland Parish, Louisiana has narrowed from about 32% to 29% in 2023. In dollar terms, the gap has widened by $4,559 since 2009.