Wealth Index
Wealthier than 70% 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 | St. Martin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,735 | $60,029 | $78,145 |
| Median Personal Income | $49,988 | $54,233 | $61,726 |
| Average income growth | 2.3% | 4.0% | 5.1% |
| Six-Figure Earners | 6.1% | 9.4% | 13.2% |
The median household income in St. Martin Parish is about 10% lower than in Louisiana. Income has been growing slower in St. Martin Parish (2.3%/yr) than in Louisiana (4.0%/yr).
About 6% of adults in St. Martin 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 St. Martin Parish, Louisiana grew by 36.8% from 2009 to 2023, reaching $53,735 in 2023. That's an average of about 2.3% per year.
Economic Inequality in St. Martin Parish | Gender Pay Gap | Gini Coefficient
| Metric | St. Martin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.580 | 0.586 | 0.570 |
| Male Median Income | $60,730 | $63,825 | $67,746 |
| Female Median Income | $42,570 | $46,053 | $54,793 |
| Gender Pay Gap | 29.9% | 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 St. Martin Parish, it is 0.580, 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 43% more than women's income in St. Martin Parish, Louisiana. Over a 35-year career, a 43% wage gap accumulates to roughly $635,600 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in St. Martin Parish, Louisiana has narrowed from about 34% to 30% in 2023. In dollar terms, the gap has widened by $3,418 since 2009.
Employment
| Metric | St. Martin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 6.3% | 5.2% |
| Working from Home | 6.3% | 7.2% | 13.4% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 1,217 people are unemployed in St. Martin Parish, Louisiana.
The average commute time in St. Martin Parish is 23 minutes, longer than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in St. Martin Parish, Louisiana has fallen from 8.0% to 5.1% in 2023.
Conclusion
Considering all these factors, St. Martin Parish, Louisiana has an overall wealth index grade of C, making it about on par with Louisiana, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in St. Martin Parish, Louisiana.
How Rich Is St. Martin Parish, Louisiana?
St. Martin 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 $53,735, about 10% lower than the Louisiana average of $60,029.
What is the current median household income in St. Martin Parish, Louisiana?
As of 2023, the median household income in St. Martin Parish, Louisiana is $53,735.
What was the median household income in St. Martin Parish in 2023?
In 2023, the median household income in St. Martin Parish, Louisiana was $53,735.
What was the median household income in St. Martin Parish in 2020?
In 2020, the median household income in St. Martin Parish, Louisiana was $48,769.
What is the Gini coefficient in St. Martin Parish, Louisiana?
The Gini coefficient in St. Martin Parish is 0.580. 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 St. Martin Parish, Louisiana?
Since 2009, the income gap between men and women in St. Martin Parish, Louisiana has narrowed from about 34% to 30% in 2023. In dollar terms, the gap has widened by $3,418 since 2009.