Wealth Index
Wealthier than 75% 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 | Vermilion Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,471 | $60,029 | $78,145 |
| Median Personal Income | $52,628 | $54,233 | $61,726 |
| Average income growth | 2.8% | 4.0% | 5.1% |
| Six-Figure Earners | 7.0% | 9.4% | 13.2% |
The median household income in Vermilion Parish is about 4% lower than in Louisiana. Income has been growing slower in Vermilion Parish (2.8%/yr) than in Louisiana (4.0%/yr).
About 7% of adults in Vermilion 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 Vermilion Parish, Louisiana grew by 39.9% from 2009 to 2023, reaching $57,471 in 2023. That's an average of about 2.8% per year.
Economic Inequality in Vermilion Parish | Gender Pay Gap | Gini Coefficient
| Metric | Vermilion Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.586 | 0.586 | 0.570 |
| Male Median Income | $66,487 | $63,825 | $67,746 |
| Female Median Income | $39,428 | $46,053 | $54,793 |
| Gender Pay Gap | 40.7% | 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 Vermilion Parish, it is 0.586, 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 69% more than women's income in Vermilion Parish, Louisiana. Over a 35-year career, a 69% wage gap accumulates to roughly $947,065 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Vermilion Parish, Louisiana has widened from about 39% to 41% in 2023. In dollar terms, the gap has widened by $10,467 since 2009.
Employment
| Metric | Vermilion Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 6.3% | 5.2% |
| Working from Home | 4.8% | 7.2% | 13.4% |
| Commute time (minutes) | 25 | 21 | 22 |
Approximately 1,298 people are unemployed in Vermilion Parish, Louisiana.
The average commute time in Vermilion Parish is 25 minutes, longer than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Vermilion Parish, Louisiana has fallen from 5.9% to 5.1% in 2023.
Conclusion
Considering all these factors, Vermilion Parish, Louisiana has an overall wealth index grade of C, making it somewhat better than Louisiana, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Vermilion Parish, Louisiana.
How Rich Is Vermilion Parish, Louisiana?
Vermilion 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 $57,471, about 4% lower than the Louisiana average of $60,029.
What is the current median household income in Vermilion Parish, Louisiana?
As of 2023, the median household income in Vermilion Parish, Louisiana is $57,471.
What was the median household income in Vermilion Parish in 2023?
In 2023, the median household income in Vermilion Parish, Louisiana was $57,471.
What was the median household income in Vermilion Parish in 2020?
In 2020, the median household income in Vermilion Parish, Louisiana was $52,380.
What is the Gini coefficient in Vermilion Parish, Louisiana?
The Gini coefficient in Vermilion Parish is 0.586. 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 Vermilion Parish, Louisiana?
Since 2009, the income gap between men and women in Vermilion Parish, Louisiana has widened from about 39% to 41% in 2023. In dollar terms, the gap has widened by $10,467 since 2009.