Sep 20, 2023 - Business

New Orleans' median household income drops

Change in median household income, 2019 to 2022
Data: U.S. Census; Map: Kavya Beheraj/Axios

The median household income across New Orleans metro fell 4.3% from 2019 to 2022, per new U.S. Census Bureau data.

  • New Orleans' median income was $61,602 in 2022, compared with $64,400 in 2019, adjusted for inflation.
  • Statewide, the median income dropped 6.14% to $55,416.

The big picture: Nationally, median household income fell 1.6% to $74,755 over the same time period.

  • That trend "explains why Americans have felt so meh about the strong economy over the past couple years," Axios Markets writes based on similar data released earlier this month.

Zoom out: The share of American households making $100,000 or more, meanwhile, rose from 34% to 37%.

  • In New Orleans, the share of $100K+ households increased from 26% to 31%.
Change in the share of New Orleans metro area households, by income
Data: U.S. Census; Chart: Kavya Beheraj/Axios

Details: The new data comes by way of the Census Bureau's 2022 American Community Survey (ACS) one-year estimates, released Sept. 14.

  • The ACS is one of the best resources available for a regularly published quantified look at myriad facets of American life, down to a remarkably local level.

Zoom out: The survey also looked at population changes.

  • Florida (+2.1%), Idaho (+2%) and South Carolina (+1.8%) saw the highest rates of population growth between 2021-2022, while New York (-0.8%), Louisiana (-0.7%) and Illinois (-0.7%) saw the biggest decreases. (Population is affected by in- and out-migration, but also births and deaths.)

Meanwhile, the population of New Orleans metro grew to 963,212 residents from 914,531 in corrected numbers released this month from the Census Bureau for its once-a-decade count.

  • Nearly 50,000 residents were mistakenly assigned to the Laplace-Lutcher-Gramercy urban area, which was supposed to be deleted following a Census merger with New Orleans metro, according to the Associated Press.
  • Mayor LaToya Cantrell also sent a correction request, citing the 1,061 students living in dorms at Tulane University and Southern University who she says were missed. It's unclear if the students were included in the new total.

Between the lines: The numbers determine the annual distribution of $2.8 trillion in federal funding for health care, schools, highway construction and other projects, AP says.

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