Wealth Index
Less wealthy than 80% 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 | Fall River County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $60,977 | $72,558 | $78,145 |
| Median Personal Income | $58,054 | $55,073 | $61,726 |
| Average income growth | 4.3% | 4.8% | 5.1% |
| Six-Figure Earners | 5.0% | 9.3% | 13.2% |
The median household income in Fall River County is about 16% lower than in South Dakota. Income has been growing slower in Fall River County (4.3%/yr) than in South Dakota (4.8%/yr).
About 5% of adults in Fall River 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 Fall River County, South Dakota grew by 59.1% from 2009 to 2023, reaching $60,977 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Fall River County | Gender Pay Gap | Gini Coefficient
| Metric | Fall River County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.509 | 0.512 | 0.570 |
| Male Median Income | $49,838 | $61,155 | $67,746 |
| Female Median Income | $67,627 | $48,763 | $54,793 |
| Gender Pay Gap | -35.7% | 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 Fall River County, it is 0.509, about the same as South Dakota's 0.512, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Women's income is about 36% more than men's income in Fall River County, South Dakota. Over a 35-year career, a 36% wage gap accumulates to roughly $622,615 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fall River County, South Dakota has widened from about 6% to -36% in 2023. In dollar terms, the gap has narrowed by $20,030 since 2009.
Employment
| Metric | Fall River County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 3.0% | 5.2% |
| Working from Home | 11.4% | 9.3% | 13.4% |
| Commute time (minutes) | 11 | 15 | 22 |
Approximately 113 people are unemployed in Fall River County, South Dakota.
The average commute time in Fall River County is 11 minutes, shorter than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fall River County, South Dakota has fallen from 6.4% to 3.5% in 2023.
Conclusion
Considering all these factors, Fall River County, South Dakota has an overall wealth index grade of C, making it about on par with South Dakota, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fall River County, South Dakota.
How Rich Is Fall River County, South Dakota?
Fall River County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $60,977, about 16% lower than the South Dakota average of $72,558.
What is the current median household income in Fall River County, South Dakota?
As of 2023, the median household income in Fall River County, South Dakota is $60,977.
What was the median household income in Fall River County in 2023?
In 2023, the median household income in Fall River County, South Dakota was $60,977.
What was the median household income in Fall River County in 2020?
In 2020, the median household income in Fall River County, South Dakota was $51,040.
What is the Gini coefficient in Fall River County, South Dakota?
The Gini coefficient in Fall River County is 0.509. 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 Fall River County, South Dakota?
Since 2009, the income gap between men and women in Fall River County, South Dakota has widened from about 6% to -36% in 2023. In dollar terms, the gap has narrowed by $20,030 since 2009.