Wealth Index
Wealthiest county 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 | Stanley County | South Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,725 | $72,558 | $78,145 |
| Median Personal Income | $57,143 | $55,073 | $61,726 |
| Average income growth | 3.6% | 4.8% | 5.1% |
| Six-Figure Earners | 12.7% | 9.3% | 13.2% |
The median household income in Stanley County is about 4% higher than in South Dakota. Income has been growing slower in Stanley County (3.6%/yr) than in South Dakota (4.8%/yr).
About 13% of adults in Stanley 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 Stanley County, South Dakota grew by 45.7% from 2009 to 2023, reaching $75,725 in 2023. That's an average of about 3.6% per year.
Economic Inequality in Stanley County | Gender Pay Gap | Gini Coefficient
| Metric | Stanley County | South Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.472 | 0.512 | 0.570 |
| Male Median Income | $69,033 | $61,155 | $67,746 |
| Female Median Income | $42,936 | $48,763 | $54,793 |
| Gender Pay Gap | 37.8% | 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 Stanley County, it is 0.472, 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 61% more than women's income in Stanley County, South Dakota. Over a 35-year career, a 61% wage gap accumulates to roughly $913,395 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Stanley County, South Dakota has widened from about 28% to 38% in 2023. In dollar terms, the gap has widened by $15,364 since 2009.
Employment
| Metric | Stanley County | South Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 3.0% | 5.2% |
| Working from Home | 4.3% | 9.3% | 13.4% |
| Commute time (minutes) | 13 | 15 | 22 |
Approximately 6 people are unemployed in Stanley County, South Dakota.
The average commute time in Stanley County is 13 minutes, shorter than the 15 minutes in South Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Stanley County, South Dakota has fallen from 3.8% to 1.0% in 2023.
Conclusion
Considering all these factors, Stanley County, South Dakota has an overall wealth index grade of A, making it notably better than South Dakota, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Stanley County, South Dakota.
How Rich Is Stanley County, South Dakota?
Stanley County has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $75,725, about 4% higher than the South Dakota average of $72,558.
What is the current median household income in Stanley County, South Dakota?
As of 2023, the median household income in Stanley County, South Dakota is $75,725.
What was the median household income in Stanley County in 2023?
In 2023, the median household income in Stanley County, South Dakota was $75,725.
What was the median household income in Stanley County in 2020?
In 2020, the median household income in Stanley County, South Dakota was $72,832.
What is the Gini coefficient in Stanley County, South Dakota?
The Gini coefficient in Stanley County is 0.472. 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 Stanley County, South Dakota?
Since 2009, the income gap between men and women in Stanley County, South Dakota has widened from about 28% to 38% in 2023. In dollar terms, the gap has widened by $15,364 since 2009.