Wealth Index
Wealthier 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 | Edmunds County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,450 | $72,558 | $78,145 |
| Median Personal Income | $57,692 | $55,073 | $61,726 |
| Average income growth | 3.0% | 4.8% | 5.1% |
| Six-Figure Earners | 10.1% | 9.3% | 13.2% |
The median household income in Edmunds County is about 5% higher than in South Dakota. Income has been growing slower in Edmunds County (3.0%/yr) than in South Dakota (4.8%/yr).
About 10% of adults in Edmunds County earn six figures ($100,000 or more) a year, higher than the South Dakota average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Edmunds County, South Dakota grew by 67.0% from 2009 to 2023, reaching $76,450 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Edmunds County | Gender Pay Gap | Gini Coefficient
| Metric | Edmunds County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.507 | 0.512 | 0.570 |
| Male Median Income | $62,046 | $61,155 | $67,746 |
| Female Median Income | $51,615 | $48,763 | $54,793 |
| Gender Pay Gap | 16.8% | 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 Edmunds County, it is 0.507, lower than South Dakota's 0.512, so income is more 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 20% more than women's income in Edmunds County, South Dakota. Over a 35-year career, a 20% wage gap accumulates to roughly $365,085 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Edmunds County, South Dakota has narrowed from about 32% to 17% in 2023. In dollar terms, the gap has narrowed by $2,096 since 2009.
Employment
| Metric | Edmunds County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 3.0% | 5.2% |
| Working from Home | 13.2% | 9.3% | 13.4% |
| Commute time (minutes) | 18 | 15 | 22 |
Approximately 14 people are unemployed in Edmunds County, South Dakota.
The average commute time in Edmunds County is 18 minutes, longer than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Edmunds County, South Dakota has fallen from 1.9% to 1.0% in 2023.
Conclusion
Considering all these factors, Edmunds County, South Dakota has an overall wealth index grade of B, making it somewhat better than South Dakota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Edmunds County, South Dakota.
How Wealthy Is Edmunds County, South Dakota?
Edmunds County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $76,450, about 5% higher than the South Dakota average of $72,558.
What is the current median household income in Edmunds County, South Dakota?
As of 2023, the median household income in Edmunds County, South Dakota is $76,450.
What was the median household income in Edmunds County in 2023?
In 2023, the median household income in Edmunds County, South Dakota was $76,450.
What was the median household income in Edmunds County in 2020?
In 2020, the median household income in Edmunds County, South Dakota was $64,365.
What is the Gini coefficient in Edmunds County, South Dakota?
The Gini coefficient in Edmunds County is 0.507. 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 Edmunds County, South Dakota?
Since 2009, the income gap between men and women in Edmunds County, South Dakota has narrowed from about 32% to 17% in 2023. In dollar terms, the gap has narrowed by $2,096 since 2009.