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 | St. Mary Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,129 | $60,029 | $78,145 |
| Median Personal Income | $47,701 | $54,233 | $61,726 |
| Average income growth | 3.6% | 4.0% | 5.1% |
| Six-Figure Earners | 6.3% | 9.4% | 13.2% |
The median household income in St. Mary Parish is about 13% lower than in Louisiana. Income has been growing slower in St. Mary Parish (3.6%/yr) than in Louisiana (4.0%/yr).
About 6% of adults in St. Mary 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. Mary Parish, Louisiana grew by 35.5% from 2009 to 2023, reaching $52,129 in 2023. That's an average of about 3.6% per year.
Economic Inequality in St. Mary Parish | Gender Pay Gap | Gini Coefficient
| Metric | St. Mary Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.586 | 0.570 |
| Male Median Income | $56,297 | $63,825 | $67,746 |
| Female Median Income | $42,050 | $46,053 | $54,793 |
| Gender Pay Gap | 25.3% | 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. Mary Parish, it is 0.588, about the same as Louisiana's 0.586, so income here is about as evenly distributed as there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 34% more than women's income in St. Mary Parish, Louisiana. Over a 35-year career, a 34% wage gap accumulates to roughly $498,645 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. Mary Parish, Louisiana has narrowed from about 47% to 25% in 2023. In dollar terms, the gap has narrowed by $8,213 since 2009.
Employment
| Metric | St. Mary Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 6.3% | 5.2% |
| Working from Home | 5.2% | 7.2% | 13.4% |
| Commute time (minutes) | 15 | 21 | 22 |
Approximately 1,123 people are unemployed in St. Mary Parish, Louisiana.
The average commute time in St. Mary Parish is 15 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in St. Mary Parish, Louisiana has fallen from 8.7% to 5.4% in 2023.
Conclusion
Considering all these factors, St. Mary 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 St. Mary Parish, Louisiana.
How Rich Is St. Mary Parish, Louisiana?
St. Mary 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 $52,129, about 13% lower than the Louisiana average of $60,029.
What is the current median household income in St. Mary Parish, Louisiana?
As of 2023, the median household income in St. Mary Parish, Louisiana is $52,129.
What was the median household income in St. Mary Parish in 2023?
In 2023, the median household income in St. Mary Parish, Louisiana was $52,129.
What was the median household income in St. Mary Parish in 2020?
In 2020, the median household income in St. Mary Parish, Louisiana was $40,282.
What is the Gini coefficient in St. Mary Parish, Louisiana?
The Gini coefficient in St. Mary Parish is 0.588. 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. Mary Parish, Louisiana?
Since 2009, the income gap between men and women in St. Mary Parish, Louisiana has narrowed from about 47% to 25% in 2023. In dollar terms, the gap has narrowed by $8,213 since 2009.