Estimate of Median Household Income for Louisiana
MHILA22000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,273.00
Year-over-Year Change
39.40%
Date Range
1/1/1989 - 1/1/2023
Summary
The Estimate of Median Household Income for Louisiana measures the midpoint of the income distribution for households in the state. This metric is a key economic indicator used to assess the standard of living and purchasing power of 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 represents the middle value when all household incomes in Louisiana are ranked from lowest to highest. It provides a more representative measure of typical household earnings compared to the average, which can be skewed by outliers.
Methodology
The U.S. Census Bureau collects this data through household surveys and calculates the median value.
Historical Context
Policymakers and analysts use this trend to evaluate the economic well-being of Louisiana's population and inform decisions related to taxation, public assistance programs, and economic development initiatives.
Key Facts
- Louisiana's median household income was $51,983 in 2021.
- Median income in Louisiana is lower than the national average.
- Household incomes vary significantly by region within the state.
FAQs
Q: What does this economic trend measure?
A: The Estimate of Median Household Income for Louisiana measures the midpoint of the income distribution for all households in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the typical standard of living and purchasing power of Louisiana residents, which is important for evaluating economic conditions and informing policy decisions.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through household surveys and calculates the median value for Louisiana.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the economic well-being of Louisiana's population and inform decisions related to taxation, public assistance programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 year delay, and may not capture short-term fluctuations in household incomes.
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Citation
U.S. Federal Reserve, Estimate of Median Household Income for Louisiana (MHILA22000A052NCEN), retrieved from FRED.