Wealth Index
Less wealthy than 91% 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 | Corson County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $45,000 | $72,558 | $78,145 |
| Median Personal Income | $47,338 | $55,073 | $61,726 |
| Average income growth | 5.4% | 4.8% | 5.1% |
| Six-Figure Earners | 5.0% | 9.3% | 13.2% |
The median household income in Corson County is about 38% lower than in South Dakota. Income has been growing faster in Corson County (5.4%/yr) than in South Dakota (4.8%/yr).
About 5% of adults in Corson 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 Corson County, South Dakota grew by 50.6% from 2009 to 2023, reaching $45,000 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Corson County | Gender Pay Gap | Gini Coefficient
| Metric | Corson County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.640 | 0.512 | 0.570 |
| Male Median Income | $47,560 | $61,155 | $67,746 |
| Female Median Income | $46,904 | $48,763 | $54,793 |
| Gender Pay Gap | 1.4% | 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 Corson County, it is 0.640, higher than South Dakota's 0.512, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 1% more than women's income in Corson County, South Dakota. Over a 35-year career, a 1% wage gap accumulates to roughly $22,960 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Corson County, South Dakota has narrowed from about 29% to 1% in 2023. In dollar terms, the gap has narrowed by $9,517 since 2009.
Employment
| Metric | Corson County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 20.0% | 3.0% | 5.2% |
| Working from Home | 27.5% | 9.3% | 13.4% |
| Commute time (minutes) | 18 | 15 | 22 |
Approximately 359 people are unemployed in Corson County, South Dakota.
The average commute time in Corson County is 18 minutes, longer than the 15 minutes in South Dakota.
Unemployment Rate Over Time
The unemployment rate in Corson County, South Dakota has stayed about flat at 20.0% since 2011.
Conclusion
Considering all these factors, Corson County, South Dakota has an overall wealth index grade of F, making it worse than South Dakota, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Corson County, South Dakota.
How Rich Is Corson County, South Dakota?
Corson County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $45,000, about 38% lower than the South Dakota average of $72,558.
What is the current median household income in Corson County, South Dakota?
As of 2023, the median household income in Corson County, South Dakota is $45,000.
What was the median household income in Corson County in 2023?
In 2023, the median household income in Corson County, South Dakota was $45,000.
What was the median household income in Corson County in 2020?
In 2020, the median household income in Corson County, South Dakota was $37,250.
What is the Gini coefficient in Corson County, South Dakota?
The Gini coefficient in Corson County is 0.640. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Corson County, South Dakota?
Since 2009, the income gap between men and women in Corson County, South Dakota has narrowed from about 29% to 1% in 2023. In dollar terms, the gap has narrowed by $9,517 since 2009.