South Dakota Median Household Incomes Show Slight Growth in 2016
Following the national trend, South Dakotans’ median household income in 2016 rose for the third consecutive year to $54,467. Median household income in the state still remains below the national median of $57,617, however.
Though South Dakota’s 2016 median household income was the highest it’s been in the past two decades, it still reflects stagnation. Adjusted for inflation, median household income has hovered around $50,000 since 2006.
The Rushmore State fell one spot to become the state with the 29th highest median household income in the country. Regionally, South Dakota ranks ahead of Montana, which posted a median income of $50,027, but is more than $10,000 behind Minnesota, at $65,599. Minnesota ranks 13th nationally, behind No. 1 Maryland at $78,945. Mississippi posted the lowest median household income in the country at $41,754. Here's a look at South Dakota and its neighboring states:
|State||Median Income in 2015||National Rank|
Metropolitan totals for median household incomes give more detail to the state trend. Sioux City experienced the greatest median wage growth of the state’s metropolitan areas, increasing 6.2 percent to $56,687 in 2016. From 2015 to 2016, median household income in Sioux Falls rose to $63,931 — a 5.5 percent increase. The Rapid City metro area, in contrast, experienced a substantial 4.6 percent decline in median household income, falling to $51,097.
Heads of households aged between 25 and 44 enjoyed the strongest income growth from 2015 to 2016, with their incomes rising from $59,999 to $62,683 (in inflation-adjusted dollars). Median household incomes for heads of household ages 24 or younger fell from 2015 to 2016. The age group’s median household income was $32,000 in 2016 as compared to $32,106 in 2015. The remaining age groups posted slight increases from 2015-2016, rising by $1,000 or less.