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 | Union Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,034 | $60,029 | $78,145 |
| Median Personal Income | $48,316 | $54,233 | $61,726 |
| Average income growth | 3.1% | 4.0% | 5.1% |
| Six-Figure Earners | 6.1% | 9.4% | 13.2% |
The median household income in Union Parish is about 23% lower than in Louisiana. Income has been growing slower in Union Parish (3.1%/yr) than in Louisiana (4.0%/yr).
About 6% of adults in Union 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 Union Parish, Louisiana grew by 27.7% from 2009 to 2023, reaching $46,034 in 2023. That's an average of about 3.1% per year.
Economic Inequality in Union Parish | Gender Pay Gap | Gini Coefficient
| Metric | Union Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.581 | 0.586 | 0.570 |
| Male Median Income | $49,485 | $63,825 | $67,746 |
| Female Median Income | $47,368 | $46,053 | $54,793 |
| Gender Pay Gap | 4.3% | 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 Union Parish, it is 0.581, 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 4% more than women's income in Union Parish, Louisiana. Over a 35-year career, a 4% wage gap accumulates to roughly $74,095 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Union Parish, Louisiana has narrowed from about 32% to 4% in 2023. In dollar terms, the gap has narrowed by $11,179 since 2009.
Employment
| Metric | Union Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 6.3% | 5.2% |
| Working from Home | 3.6% | 7.2% | 13.4% |
| Commute time (minutes) | 30 | 21 | 22 |
Approximately 474 people are unemployed in Union Parish, Louisiana.
The average commute time in Union Parish is 30 minutes, longer than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Union Parish, Louisiana has fallen from 6.6% to 5.8% in 2023.
Conclusion
Considering all these factors, Union Parish, Louisiana has an overall wealth index grade of D, making it about on par with Louisiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Union Parish, Louisiana.
How Wealthy Is Union Parish, Louisiana?
Union 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 $46,034, about 23% lower than the Louisiana average of $60,029.
What is the current median household income in Union Parish, Louisiana?
As of 2023, the median household income in Union Parish, Louisiana is $46,034.
What was the median household income in Union Parish in 2023?
In 2023, the median household income in Union Parish, Louisiana was $46,034.
What was the median household income in Union Parish in 2020?
In 2020, the median household income in Union Parish, Louisiana was $45,123.
What is the Gini coefficient in Union Parish, Louisiana?
The Gini coefficient in Union Parish is 0.581. 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 Union Parish, Louisiana?
Since 2009, the income gap between men and women in Union Parish, Louisiana has narrowed from about 32% to 4% in 2023. In dollar terms, the gap has narrowed by $11,179 since 2009.