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 | Vernon Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,186 | $60,029 | $78,145 |
| Median Personal Income | $45,511 | $54,233 | $61,726 |
| Average income growth | 3.2% | 4.0% | 5.1% |
| Six-Figure Earners | 6.7% | 9.4% | 13.2% |
The median household income in Vernon Parish is about 3% lower than in Louisiana. Income has been growing slower in Vernon Parish (3.2%/yr) than in Louisiana (4.0%/yr).
About 7% of adults in Vernon 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 Vernon Parish, Louisiana grew by 45.4% from 2009 to 2023, reaching $58,186 in 2023. That's an average of about 3.2% per year.
Economic Inequality in Vernon Parish | Gender Pay Gap | Gini Coefficient
| Metric | Vernon Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.586 | 0.570 |
| Male Median Income | $51,317 | $63,825 | $67,746 |
| Female Median Income | $40,730 | $46,053 | $54,793 |
| Gender Pay Gap | 20.6% | 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 Vernon Parish, it is 0.574, lower than Louisiana's 0.586, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 26% more than women's income in Vernon Parish, Louisiana. Over a 35-year career, a 26% wage gap accumulates to roughly $370,545 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Vernon Parish, Louisiana has narrowed from about 24% to 21% in 2023. In dollar terms, the gap has widened by $2,198 since 2009.
Employment
| Metric | Vernon Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 6.3% | 5.2% |
| Working from Home | 5.0% | 7.2% | 13.4% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 1,042 people are unemployed in Vernon Parish, Louisiana.
The average commute time in Vernon Parish is 17 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Vernon Parish, Louisiana has fallen from 5.8% to 4.7% in 2023.
Conclusion
Considering all these factors, Vernon 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 Vernon Parish, Louisiana.
How Rich Is Vernon Parish, Louisiana?
Vernon 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 $58,186, about 3% lower than the Louisiana average of $60,029.
What is the current median household income in Vernon Parish, Louisiana?
As of 2023, the median household income in Vernon Parish, Louisiana is $58,186.
What was the median household income in Vernon Parish in 2023?
In 2023, the median household income in Vernon Parish, Louisiana was $58,186.
What was the median household income in Vernon Parish in 2020?
In 2020, the median household income in Vernon Parish, Louisiana was $50,371.
What is the Gini coefficient in Vernon Parish, Louisiana?
The Gini coefficient in Vernon Parish is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Vernon Parish, Louisiana?
Since 2009, the income gap between men and women in Vernon Parish, Louisiana has narrowed from about 24% to 21% in 2023. In dollar terms, the gap has widened by $2,198 since 2009.