Wealth Index
Wealthier than 83% 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 | Minnehaha County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,124 | $72,558 | $78,145 |
| Median Personal Income | $56,810 | $55,073 | $61,726 |
| Average income growth | 4.6% | 4.8% | 5.1% |
| Six-Figure Earners | 10.0% | 9.3% | 13.2% |
The median household income in Minnehaha County is about 5% higher than in South Dakota. Income has been growing slower in Minnehaha County (4.6%/yr) than in South Dakota (4.8%/yr).
About 10% of adults in Minnehaha 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 Minnehaha County, South Dakota grew by 49.9% from 2009 to 2023, reaching $76,124 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Minnehaha County | Gender Pay Gap | Gini Coefficient
| Metric | Minnehaha County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.480 | 0.512 | 0.570 |
| Male Median Income | $62,084 | $61,155 | $67,746 |
| Female Median Income | $51,098 | $48,763 | $54,793 |
| Gender Pay Gap | 17.7% | 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 Minnehaha 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 21% more than women's income in Minnehaha County, South Dakota. Over a 35-year career, a 21% wage gap accumulates to roughly $384,510 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Minnehaha County, South Dakota has narrowed from about 21% to 18% in 2023. In dollar terms, the gap has widened by $2,766 since 2009.
Employment
| Metric | Minnehaha County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.3% | 3.0% | 5.2% |
| Working from Home | 9.8% | 9.3% | 13.4% |
| Commute time (minutes) | 16 | 15 | 22 |
Approximately 2,600 people are unemployed in Minnehaha County, South Dakota.
The average commute time in Minnehaha County is 16 minutes, longer than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Minnehaha County, South Dakota has fallen from 4.3% to 2.3% in 2023.
Conclusion
Considering all these factors, Minnehaha 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 Minnehaha County, South Dakota.
How Rich Is Minnehaha County, South Dakota?
Minnehaha 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 $76,124, about 5% higher than the South Dakota average of $72,558.
What is the current median household income in Minnehaha County, South Dakota?
As of 2023, the median household income in Minnehaha County, South Dakota is $76,124.
What was the median household income in Minnehaha County in 2023?
In 2023, the median household income in Minnehaha County, South Dakota was $76,124.
What was the median household income in Minnehaha County in 2020?
In 2020, the median household income in Minnehaha County, South Dakota was $63,752.
What is the Gini coefficient in Minnehaha County, South Dakota?
The Gini coefficient in Minnehaha 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 Minnehaha County, South Dakota?
Since 2009, the income gap between men and women in Minnehaha County, South Dakota has narrowed from about 21% to 18% in 2023. In dollar terms, the gap has widened by $2,766 since 2009.