Lake County, South Dakota Income Statistics
Lake County Wealth Score
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.
-
B
Lake County Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lake County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,179 | $75,087 | $80,455 |
| Median Personal Income | $48,428 | $53,860 | $60,758 |
| Average Yearly Income Growth | 4.4% | 4.6% | 4.8% |
| Six-Figure Earners | 11.4% | 10.1% | 13.9% |
| $200k+ Households | 9.2% | 8.1% | 13.2% |
The median household income in Lake County is about 4% higher than in South Dakota. Income has been growing slower in Lake County (4.4%/yr) than in South Dakota (4.6%/yr).
About 11% of adults in Lake County earn six figures ($100,000 or more) a year, higher than the South Dakota average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Lake County, South Dakota grew by 69.2% from 2009 to 2024, reaching $78,179 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in Lake County
| Metric | Lake County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.490 | 0.504 | 0.552 |
| Male Median Income | $61,959 | $62,990 | $69,667 |
| Female Median Income | $45,299 | $50,603 | $56,850 |
| Gender Pay Gap | 26.9% | 19.7% | 18.4% |
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 Lake County, it is 0.490, lower than South Dakota's 0.504, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 37% more than women's income in Lake County, South Dakota. Over a 35-year career, a 37% wage gap accumulates to roughly $583,100 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lake County, South Dakota has narrowed from about 33% to 27% in 2024. Over that period the gap was narrowest at 14% in 2014. In dollar terms, the gap has widened by $4,024 since 2009.
Employment
| Metric | Lake County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 2.9% | 5.2% |
| Working from Home | 10.5% | 9.7% | 15.0% |
| Commute time (minutes) | 10 | 15 | 22 |
Approximately 174 people are unemployed in Lake County, South Dakota.
The average commute time in Lake County is 10 minutes, shorter than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake County, South Dakota has fallen from 3.9% to 2.9% in 2024. Over that period the rate peaked at 4.6% in 2013 and fell as low as 1.6% in 2022.
Lake County, SD Wealth Compared With Nearby Counties
Lake County, SD is the 3rd largest of the 6 counties compared here, 10,972 residents against a local median of 6,397. The measure that sets Lake County, SD apart most is unemployment: 2.9%, 20% above the local median of 2.5%. That is the weaker end of the local range on this measure.
The counties themselves spread 2.7% on unemployment, so Lake County, SD sits at one end of an already wide local range rather than apart from it. Lake County, SD has the 5th lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lake County, SD | 10,972 | $78,179 #3/6 | 4.4%/yr #4/6 | 2.9% #5/6 | 0.490 #3/6 |
| McCook County, SD | 5,751 | $86,121 | 5.1%/yr | 1.8% | 0.483 |
| Moody County, SD | 6,397 | $78,164 | 4.6%/yr | 2.8% | 0.510 |
| Miner County, SD | 2,300 | $78,591 | 6.4%/yr | 1.0% | 0.500 |
| Minnehaha County, SD | 203,266 | $77,010 | 4.2%/yr | 2.5% | 0.473 |
| Brookings County, SD | 35,353 | $70,805 | 3.9%/yr | 3.7% | 0.521 |
Conclusion
Considering all these factors, Lake 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 Lake County, South Dakota.
How Rich Is Lake County, South Dakota?
Lake 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 $78,179, about 4% higher than the South Dakota average of $75,087.
How has median household income changed in Lake County, South Dakota?
Between 2009 and 2024, the median household income in Lake County, South Dakota rose 69%, from $46,195 to $78,179. Over the same years, income here outpaced South Dakota as a whole: +69% against +67%.
What was the median household income in Lake County in 2023?
In 2023, the median household income in Lake County, South Dakota was $73,644, down 2% from $74,940 in 2022. The South Dakota median that year was $72,558.
What was the median household income in Lake County in 2020?
In 2020, the median household income in Lake County, South Dakota was $64,529. By 2024 it had risen 21% to $78,179.
What is the Gini coefficient in Lake County, South Dakota?
The Gini coefficient in Lake County is 0.490. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Lake County, South Dakota?
Since 2009, the income gap between men and women in Lake County, South Dakota has narrowed from about 33% to 27% in 2024. Over that period the gap was narrowest at 14% in 2014. In dollar terms, the gap has widened by $4,024 since 2009.
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