Median Household Income in Louisiana
MEHOINUSLAA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,650.00
Year-over-Year Change
41.79%
Date Range
1/1/1984 - 1/1/2023
Summary
The Median Household Income in Louisiana tracks the inflation-adjusted median income for households in the state. It is a key indicator of economic well-being and purchasing power for Louisiana residents.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Median Household Income in Louisiana measures the midpoint income level where half of households earn more and half earn less. It provides insight into the overall standard of living and can inform policy decisions related to taxation, social programs, and economic development.
Methodology
The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Historical Context
Median household income trends are closely monitored by policymakers, economists, and market analysts to assess the financial health of Louisiana's population.
Key Facts
- Louisiana's median household income was $51,073 in 2021.
- Median income in Louisiana is below the national average.
- Incomes have risen steadily in Louisiana over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Median Household Income in Louisiana tracks the midpoint income level for households in the state, providing a key indicator of economic well-being and purchasing power.
Q: Why is this trend relevant for users or analysts?
A: Median household income is a crucial metric for understanding the overall financial health and standard of living of Louisiana's population, informing economic policy and development decisions.
Q: How is this data collected or calculated?
A: The data is collected annually through the U.S. Census Bureau's Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor median household income trends in Louisiana to assess the financial state of the state's population and inform decisions related to taxation, social programs, and economic development.
Q: Are there update delays or limitations?
A: The Median Household Income in Louisiana data is published annually with a slight delay, as it relies on the Census Bureau's survey collection and processing.
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Citation
U.S. Federal Reserve, Median Household Income in Louisiana (MEHOINUSLAA646N), retrieved from FRED.