Paris is one of the most famous cities in the world, known for its beauty, culture, and history. It’s also a hub of economic activity and attracts people from all over the world.
One of the key indicators of economic activity is household income. In this article, we’ll take a look at what the average household income in Paris is.
What Is Household Income?
Before we dive into the numbers, let’s define what household income actually means. Household income refers to the total income earned by all members of a household. This includes income from wages, salaries, investments, and any other sources.
The Average Household Income in Paris
According to data from INSEE (the National Institute of Statistics and Economic Studies), the average household income in Paris was €39,100 per year in 2018. This is higher than the national average in France which was €23,970 per year.
Income Distribution in Paris
It’s important to note that while €39,100 is the average household income in Paris, there is a wide range of incomes throughout the city. The median household income (which represents the middle value when all incomes are ranked) was €33,040 per year in 2018. This means that half of households earn less than this amount and half earn more.
- Low-Income Households: In 2018, around 20% of households in Paris had an annual income below €15,000.
- Middle-Income Households: The majority (around 50%) of households had an annual income between €15,000 and €45,000.
- High-Income Households: Around 30% of households had an annual income above €45,000.
Factors Affecting Household Income in Paris
There are several factors that can affect household income in Paris. One of the biggest drivers of income is education level.
According to INSEE, households where the highest level of education completed was a master’s degree or higher had an average income of €67,100 per year in 2018. In contrast, households where the highest level of education completed was less than a high school diploma had an average income of €15,100 per year.
Other factors that can affect household income include occupation and industry. For example, households where the head of household worked in finance and insurance had an average income of €82,900 per year in 2018.
Conclusion
In conclusion, the average household income in Paris was €39,100 per year in 2018. However, there is a wide range of incomes throughout the city and many factors can affect a household’s income. Understanding these factors can help individuals and policymakers alike work towards improving economic outcomes for all residents of Paris.