Wealth Index
Wealthier than 74% 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 | McCook County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $81,752 | $72,558 | $78,145 |
| Median Personal Income | $58,267 | $55,073 | $61,726 |
| Average income growth | 5.1% | 4.8% | 5.1% |
| Six-Figure Earners | 8.2% | 9.3% | 13.2% |
The median household income in McCook County is about 13% higher than in South Dakota. Income has been growing faster in McCook County (5.1%/yr) than in South Dakota (4.8%/yr).
About 8% of adults in McCook 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 McCook County, South Dakota grew by 84.4% from 2009 to 2023, reaching $81,752 in 2023. That's an average of about 5.1% per year.
Economic Inequality in McCook County | Gender Pay Gap | Gini Coefficient
| Metric | McCook County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.480 | 0.512 | 0.570 |
| Male Median Income | $61,038 | $61,155 | $67,746 |
| Female Median Income | $52,265 | $48,763 | $54,793 |
| Gender Pay Gap | 14.4% | 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 McCook County, it is 0.480, 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 17% more than women's income in McCook County, South Dakota. Over a 35-year career, a 17% wage gap accumulates to roughly $307,055 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in McCook County, South Dakota has narrowed from about 25% to 14% in 2023. In dollar terms, the gap has narrowed by $862 since 2009.
Employment
| Metric | McCook County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.7% | 3.0% | 5.2% |
| Working from Home | 10.7% | 9.3% | 13.4% |
| Commute time (minutes) | 26 | 15 | 22 |
Approximately 52 people are unemployed in McCook County, South Dakota.
The average commute time in McCook County is 26 minutes, longer than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in McCook County, South Dakota has fallen from 3.3% to 1.7% in 2023.
Conclusion
Considering all these factors, McCook 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 McCook County, South Dakota.
How Rich Is McCook County, South Dakota?
McCook 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 $81,752, about 13% higher than the South Dakota average of $72,558.
What is the current median household income in McCook County, South Dakota?
As of 2023, the median household income in McCook County, South Dakota is $81,752.
What was the median household income in McCook County in 2023?
In 2023, the median household income in McCook County, South Dakota was $81,752.
What was the median household income in McCook County in 2020?
In 2020, the median household income in McCook County, South Dakota was $67,813.
What is the Gini coefficient in McCook County, South Dakota?
The Gini coefficient in McCook County is 0.480. 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 McCook County, South Dakota?
Since 2009, the income gap between men and women in McCook County, South Dakota has narrowed from about 25% to 14% in 2023. In dollar terms, the gap has narrowed by $862 since 2009.