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 | Terrebonne Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,710 | $60,029 | $78,145 |
| Median Personal Income | $55,369 | $54,233 | $61,726 |
| Average income growth | 4.0% | 4.0% | 5.1% |
| Six-Figure Earners | 9.2% | 9.4% | 13.2% |
The median household income in Terrebonne Parish is about 6% higher than in Louisiana. Income has been growing faster in Terrebonne Parish (4.0%/yr) than in Louisiana (4.0%/yr).
About 9% of adults in Terrebonne Parish earn six figures ($100,000 or more) a year, about the same as the Louisiana average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Terrebonne Parish, Louisiana grew by 36.0% from 2009 to 2023, reaching $63,710 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Terrebonne Parish | Gender Pay Gap | Gini Coefficient
| Metric | Terrebonne Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.597 | 0.586 | 0.570 |
| Male Median Income | $69,892 | $63,825 | $67,746 |
| Female Median Income | $41,803 | $46,053 | $54,793 |
| Gender Pay Gap | 40.2% | 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 Terrebonne Parish, it is 0.597, 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 67% more than women's income in Terrebonne Parish, Louisiana. Over a 35-year career, a 67% wage gap accumulates to roughly $983,115 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Terrebonne Parish, Louisiana has narrowed from about 41% to 40% in 2023. In dollar terms, the gap has widened by $7,612 since 2009.
Employment
| Metric | Terrebonne Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 6.3% | 5.2% |
| Working from Home | 3.6% | 7.2% | 13.4% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 2,302 people are unemployed in Terrebonne Parish, Louisiana.
The average commute time in Terrebonne Parish is 17 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Terrebonne Parish, Louisiana has fallen from 5.9% to 4.7% in 2023.
Conclusion
Considering all these factors, Terrebonne 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 Terrebonne Parish, Louisiana.
How Rich Is Terrebonne Parish, Louisiana?
Terrebonne 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 $63,710, about 6% higher than the Louisiana average of $60,029.
What is the current median household income in Terrebonne Parish, Louisiana?
As of 2023, the median household income in Terrebonne Parish, Louisiana is $63,710.
What was the median household income in Terrebonne Parish in 2023?
In 2023, the median household income in Terrebonne Parish, Louisiana was $63,710.
What was the median household income in Terrebonne Parish in 2020?
In 2020, the median household income in Terrebonne Parish, Louisiana was $52,519.
What is the Gini coefficient in Terrebonne Parish, Louisiana?
The Gini coefficient in Terrebonne Parish is 0.597. 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 Terrebonne Parish, Louisiana?
Since 2009, the income gap between men and women in Terrebonne Parish, Louisiana has narrowed from about 41% to 40% in 2023. In dollar terms, the gap has widened by $7,612 since 2009.