Sioux Falls, South Dakota Income Statistics
Sioux Falls Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Sioux Falls Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Sioux Falls | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,541 | $75,087 | $80,455 |
| Median Personal Income | $54,843 | $53,860 | $60,758 |
| Average Yearly Income Growth | 4.2% | 4.6% | 4.8% |
| Six-Figure Earners | 10.9% | 10.1% | 13.9% |
| $200k+ Households | 9.1% | 8.1% | 13.2% |
The median household income in Sioux Falls is about 1% lower than in South Dakota. Income has been growing slower in Sioux Falls (4.2%/yr) than in South Dakota (4.6%/yr).
About 11% of adults in Sioux Falls 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 Sioux Falls, South Dakota grew by 54.8% from 2009 to 2024, reaching $74,541 in 2024. That's an average of about 4.2% per year.
Income Inequality and the Gender Pay Gap in Sioux Falls
| Metric | Sioux Falls | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.478 | 0.504 | 0.552 |
| Male Median Income | $63,548 | $62,990 | $69,667 |
| Female Median Income | $52,134 | $50,603 | $56,850 |
| Gender Pay Gap | 18.0% | 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 Sioux Falls, it is 0.478, 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 22% more than women's income in Sioux Falls, South Dakota. Over a 35-year career, a 22% wage gap accumulates to roughly $399,490 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sioux Falls, South Dakota has narrowed from about 19% to 18% in 2024. Over that period the gap was widest at 21% in 2022, and was narrowest at 17% in 2023. In dollar terms, the gap has widened by $4,141 since 2009.
Employment
| Metric | Sioux Falls | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 2.9% | 5.2% |
| Working from Home | 10.3% | 9.7% | 15.0% |
| Commute time (minutes) | 16 | 15 | 22 |
Approximately 2,603 people are unemployed in Sioux Falls, South Dakota.
The average commute time in Sioux Falls is 16 minutes, longer than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sioux Falls, South Dakota has fallen from 4.4% to 2.5% in 2024. Over that period the rate peaked at 4.7% in 2014 and fell as low as 2.3% in 2023.
Conclusion
Considering all these factors, Sioux Falls, 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 Sioux Falls, South Dakota.
How Rich Is Sioux Falls, South Dakota?
Sioux Falls 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 $74,541, about 1% lower than the South Dakota average of $75,087.
Are incomes growing in Sioux Falls, South Dakota?
Between 2009 and 2024, the median household income in Sioux Falls, South Dakota rose 55%, from $48,161 to $74,541. Over the same years, income here lagged behind South Dakota as a whole: +55% against +67%.
What was the median household income in Sioux Falls in 2023?
In 2023, the median household income in Sioux Falls, South Dakota was $73,768, up 3% from $71,287 in 2022. The South Dakota median that year was $72,558.
What was the median household income in Sioux Falls in 2020?
In 2020, the median household income in Sioux Falls, South Dakota was $61,347. By 2024 it had risen 22% to $74,541.
What is the Gini coefficient in Sioux Falls, South Dakota?
The Gini coefficient in Sioux Falls is 0.478. 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 Sioux Falls, South Dakota?
Since 2009, the income gap between men and women in Sioux Falls, South Dakota has narrowed from about 19% to 18% in 2024. Over that period the gap was widest at 21% in 2022, and was narrowest at 17% in 2023. In dollar terms, the gap has widened by $4,141 since 2009.
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