By Victor C. Kirk
Finding the money in Monroe is quite a task – you are removing layer after layer of an onion. There are signs and signals of where there is paydirt. Several factors are present in the Monroe community that speak to its attractiveness – rents are low with 57% of landlords charging in the range of $500 – $999 per month. Coupled with 49 percent of the population having never been married and those that are rake in a combined income of slightly more than $75, 000 annually, the 357 males with no spouse and 927 females with no spouse creates an uncomfortable yet competitive edge for those seeking mates or drum up a matchmaking frenzy on social media via dating apps.
Most astonishing is responding to the singular question asked by so many employers – where are the workers for the plethora of jobs and training opportunities that are apparently begging for someone to present for an on-site interview. Should we factor out the incarcerated, arrested, and awaiting trial or those available but unable to pass the urine test, residents available to take advantage of varying tuition free training programs may be more interested in revisiting workforce opportunities that present better options for increases in pay. Initiatives provided by the Louisiana Legislature for enrollees in area community colleges who commit to five distinct career fields that include construction and health care, coupled with free tuition to any adult over the age of 21 interested in a most valued profession of computer coding, have caused quite a stir in the community among employers seeking to hold on to their attempts at recovery after months of the virus freeze. Additionally, Monroe may have an employee problem because 49 percent of the available workforce is currently employed. With a median age of 33, medium rents at $700, and 23% of the population with earnings in the range of $15,000 – to $25,000, even 36 % of those in poverty are employed.
A closer look at neighborhoods can reveal just where the hard-earned cash is being spent. Of the nearly 21,000 residential properties, the median value of owner-occupied homes is reported to be in the 140k range, yet a considerable number are valued much higher. A whopping thirty-one hundred homes are valued in the range of 100 – 300K but nearly 1900 carry a value in the 200k – 500k range. Slightly less than 500 top at a value between 500k and 1 million. Monroe boosts a cadre of homes numbering 95 that exceed 1 million. We need not wonder which neighborhoods beam with such unique pride.
Property values imply that the earnings of owners are linked. If so, we can presume that the 3300 wage earners with earnings in the $50 – 100K and those 1500 reporting earning between 100k – 200K are savvy investors. But 68% earning less than 50K is quite a percentage of the Monroe populace with cash to burn as well. Investors and savers are not a monopoly described only by poverty level and income. Neighborhood revitalization efforts should benchmark a most important statistic. A deep dive into the zip code tables can be alarming. Household values by zip tell a much different story either about where we live and how vastly unequal wealth is distributed, or just how far off the mark community redevelopment, antipoverty programs, and control of our destiny failed to have a significant impact on so many trapped in poverty. Zipcodes 71201 and 71203 report median household values of $201,000 and $149,500 respectively. Yet the value of homes in zip 71202 is $64,600 supported by a median household income of $23,285 or an hourly wage of $11.19.
The dynamics of poverty again raises its ugly head and its a paramount barrier particularly in zip code 71202. The poverty rate of Monroe is 36.8% but zip code 71202 has a rate of 51.3%. Poverty rates in zip code 71201 is a remarkable 17.7%, far less than both the parish rate (24.7%) and that of zip 71203 (26.5%).
More layers of the onion are peeled next week.
