Wealth Index
Less wealthy than 86% of counties in South Dakota
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Bon Homme County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,547 | $72,558 | $78,145 |
| Median Personal Income | $48,215 | $55,073 | $61,726 |
| Average income growth | 3.7% | 4.8% | 5.1% |
| Six-Figure Earners | 4.3% | 9.3% | 13.2% |
The median household income in Bon Homme County is about 15% lower than in South Dakota. Income has been growing slower in Bon Homme County (3.7%/yr) than in South Dakota (4.8%/yr).
About 4% of adults in Bon Homme County earn six figures ($100,000 or more) a year, lower than the South Dakota average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bon Homme County, South Dakota grew by 57.7% from 2009 to 2023, reaching $61,547 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Bon Homme County | Gender Pay Gap | Gini Coefficient
| Metric | Bon Homme County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.563 | 0.512 | 0.570 |
| Male Median Income | $52,421 | $61,155 | $67,746 |
| Female Median Income | $41,611 | $48,763 | $54,793 |
| Gender Pay Gap | 20.6% | 20.3% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Bon Homme County, it is 0.563, higher than South Dakota's 0.512, so income is less evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 26% more than women's income in Bon Homme County, South Dakota. Over a 35-year career, a 26% wage gap accumulates to roughly $378,350 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bon Homme County, South Dakota has widened from about 20% to 21% in 2023. In dollar terms, the gap has widened by $4,185 since 2009.
Employment
| Metric | Bon Homme County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.2% | 3.0% | 5.2% |
| Working from Home | 7.6% | 9.3% | 13.4% |
| Commute time (minutes) | 20 | 15 | 22 |
Approximately 61 people are unemployed in Bon Homme County, South Dakota.
The average commute time in Bon Homme County is 20 minutes, longer than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bon Homme County, South Dakota has risen from 1.9% to 2.2% in 2023.
Conclusion
Considering all these factors, Bon Homme County, South Dakota has an overall wealth index grade of D, making it somewhat worse than South Dakota, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bon Homme County, South Dakota.
How Rich Is Bon Homme County, South Dakota?
Bon Homme County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $61,547, about 15% lower than the South Dakota average of $72,558.
What is the current median household income in Bon Homme County, South Dakota?
As of 2023, the median household income in Bon Homme County, South Dakota is $61,547.
What was the median household income in Bon Homme County in 2023?
In 2023, the median household income in Bon Homme County, South Dakota was $61,547.
What was the median household income in Bon Homme County in 2020?
In 2020, the median household income in Bon Homme County, South Dakota was $50,224.
What is the Gini coefficient in Bon Homme County, South Dakota?
The Gini coefficient in Bon Homme County is 0.563. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Bon Homme County, South Dakota?
Since 2009, the income gap between men and women in Bon Homme County, South Dakota has widened from about 20% to 21% in 2023. In dollar terms, the gap has widened by $4,185 since 2009.