Incomes

How much income a family needs to have a living wage in the Black Hills varies widely by circumstance, and a new living wage calculator from the Massachusetts Institute of Technology breaks down several situations in easy-to-read tables.

Exact numbers vary by county, but a family of four - two adults and two children - needs about $36,000 per year for a living wage.

Housing, food and transportation typically make up the top three categories for expenses, with the cost of adequate housing ranging widely from a single adult to a family with two or three children. Child care also can be among the top three expense categories for single parents.

The tables include numbers for a living wage plus figures for a poverty wage, and most often even that exceeds the minimum wage of $7.25 per hour.

Below are some highlights of the data for counties in the Black Hills region. Follow the links to see complete tables.

Pennington County

Single adult - Needs $16,551 annually/$7.96 hourly, with monthly expenses for housing at $498, food at $242 and transporation at $306.

Single parent with two children - Needs $43,801 annually/$21.06 hourly, with monthly expenses for housing at $732, food at $536 and transporation at $686.

Couple with three children -  Needs $43,185 annually/$20.76 hourly, with monthly expenses for housing at $969, food at $906 and transporation at $748.

Meade County

Single adult - Needs $14,418 annually/$6.93 hourly, with monthly expenses for housing at $353, food at $242 and transporation at $306.

Single parent with two children - Needs $41,039 annually/$19.73 hourly, with monthly expenses for housing at $546, food at $536 and transporation at $686.

Couple with three children -  Needs $40,612 annually/$19.52 hourly, with monthly expenses for housing at $794, food at $904 and transporation at $748.

Lawrence County

Single adult - Needs $14,800 annually/$7.12 hourly, with monthly expenses for housing at $379 food at $242 and transporation at $306.

Single parent with two children - Needs $41,336 annually/$19.87 hourly, with monthly expenses for housing at $566, food at $536 and transporation at $686.

Couple with three children -  Needs $40,524 annually/$19.48 hourly, with monthly expenses for housing at $788, food at $904 and transporation at $748.

Butte County

Single adult - Needs $15,168 annually/$7.29 hourly, with monthly expenses for housing at $404 food at $242 and transporation at $306.

Single parent with two children - Needs $40,890 annually/$19.66 hourly, with monthly expenses for housing at $536, food at $536 and transporation at $686.

Couple with three children -  Needs $39,480 annually/$18.98 hourly, with monthly expenses for housing at $717, food at $904 and transporation at $748.

Custer County

Single adult - Needs $15,168 annually/$7.29 hourly, with monthly expenses for housing at $404 food at $242 and transporation at $306.

Single parent with two children - Needs $40,890 annually/$19.66 hourly, with monthly expenses for housing at $717, food at $749 and transporation at $686.

Couple with three children -  Needs $39,480 annually/$18.98 hourly, with monthly expenses for housing at $717, food at $904 and transporation at $748.

Fall River County

Single adult - Needs $15,050 annually/$7.24 hourly, with monthly expenses for housing at $396 food at $242 and transporation at $306.

Single parent with two children - Needs $40,994 annually/$19.71 hourly, with monthly expenses for housing at $543, food at $536 and transporation at $686.

Couple with three children -  Needs $39,289 annually/$18.89 hourly, with monthly expenses for housing at $704, food at $904 and transporation at $748.

Shannon County

Single adult - Needs $15,168 annually/$7.29 hourly, with monthly expenses for housing at $404 food at $242 and transporation at $306.

Single parent with two children - Needs $40,890 annually/$19.66 hourly, with monthly expenses for housing at $536, food at $536 and transporation at $736.

Couple with three children -  Needs $39,480 annually/$18.98 hourly, with monthly expenses for housing at $717, food at $904 and transporation at $748.

 

Published in Dashboard newsfeed
Monday, 04 February 2013 00:00

Median Income

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
Minnesota $65,599 13
North Dakota $60,656 17
Wyoming  $59,882 19
Nebraska $56,927 22
Iowa $56,247 26
South Dakota $54,467 29
Montana  $50,027 40

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% to $56,687 in 2016. From 2015 to 2016, median household income in Sioux Falls rose to $63,931 — a 5.5% increase. The Rapid City metro area, in contrast, experienced a substantial 4.6% 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.

Published in Incomes
Wednesday, 16 January 2013 00:00

Poverty

Poverty Rates Continue Downward Trend Statewide, Disparities Remain

Although still higher than pre-recession levels, poverty rates across South Dakota and the nation have declined slightly from 2015. According to the latest Census data, the national poverty rate in 2016 was 14.0%. The poverty rate in South Dakota was 13.3%.

 

Regionally, South Dakota had the highest poverty rate and also dropped three places nationally to No. 27 in 2016 from No. 24 in 2015. Minnesota had the lowest poverty rate in the region at 9.9% while Montana—which placed last in the region in 2015—moved up two places to No. 25 in the nation. A review of poverty in the states around South Dakota can be viewed below:

 State Rank Percentage
Minnesota 6  9.9
North Dakota 10 10.7
Wyoming 14 11.3
Nebraska 15 11.4
Iowa 17 11.8
Montana 25 13.3
South Dakota 27 13.3

Slightly fewer individuals with one or more disabilities lived in poverty in 2016, declining to 22.4% from 22.7% in 2015.  Poverty rates for South Dakotans with no disability declined from 12.5% to 12.0.

While college degree holders are still more than 50% less likely to live in poverty than those without a college degree, this educational group experienced an increase in poverty levels. In 2016, 4.8% of college degree holders lived in poverty, up from 3.3% in 2015. Meanwhile, 12.6% of individuals without a college degree lived in poverty in 2016, down from 13.1% in 2015.

Single women with children were more than twice as likely to live in poverty in 2016 than any other household group. Last year, 38.1% of single mothers lived in poverty, up significantly from 34.3% in 2015. By comparison, 17.1% of nonfamily households lived in poverty while 15.6% of single men with children lived below the poverty line.

Women were also more likely to live in poverty than men, at 14.9% in 2016 compared to 15.4% in 2015. The number of men who lived in poverty was 11.6%, down from 12.1% in 2015.

Published in Incomes
Tuesday, 04 December 2012 00:00

More Households Cost-Burdened Since Recession

A study by the Joint Center for Housing Studies of Harvard University points out that in the wake of the collapse of the housing bubble in 2008, the national rate of homeownership has fallen and the percentage of Americans who are renters has increased.

The Harvard study focused on cities with more than 100,000 people, so the Rapid City metropolitan area (which includes Pennington, Meade, and Custer counties) did not make the list. The South Dakota Dashboard has the relevant data, so we looked at how our region would have fared if we had been included.

Homeownership Versus Renting

In the United States, the rate of homeownership has declined from its peak of 67.3 percent in 2004 to 63.5 percent in 2013. This means nearly 42 million households across the country are renters. In South Dakota, homeownership suffered a more modest decline. From a peak of 69.2 percent in 2006, homeownership fell to 67.2 percent in 2013. The decline was far greater in the Rapid City Metro area falling from a peak of 71.7 percent in 2006 to 65.8 percent in 2012, though it has increased to 68.1 percent in 2013. Sioux Falls also saw a decline (from 69.7 percent in 2006 to 64.6 percent in 2012), although it, too, has increased to 68 percent in 2013.

Unlike the rest of the nation, Rapid City has seen a significant decrease in the share of cost-burdened households since the peak of the recession. In 2008, 34.9 percent of households in the Rapid City metro area were paying 30 percent or more of their income for monthly housing costs. In 2012, that rate fell to 27.1 percent, though it has increased to 31.1 percent in 2013. Sioux Falls shows similar trends with percent of cost-burden housing peaking in 2009 at 28.3 percent but has decreased to 22.4 percent in 2013.

The Harvard study also looked at trends in rental prices in relationship to median household incomes. Nationally, they found that while real median rents increased 6 percent between 2000 and 2012, real median incomes for renters fell 13 percent. In the United States in 2012, according to statistician Ben Engebreth, the median annual rent as a percentage of median household income was about 20.7 percent. In the Rapid City metro area, where the median annual rent was $9,372 (or $781 per month), the ratio of median rent to median income was 18.6 percent in 2012, lower than the nation, but higher than the statewide rate of nearly 16.2 percent.

Governing magazine provides an interactive tool that allows the user to see how cities rank in terms of housing cost burden. According to this tool, Sioux Falls, with a rent-to-income ratio of 27.3 percent ranked 282nd among 302 cities in terms of housing cost burden, making it one of the most affordable major cities in the country for rental housing. If Rapid City had been included in this chart, with its 18.6 percent ratio, it would have beaten all other cities on the list.

To view more statistics on homeownership rates visit the Housing Cost Burden page on the South Dakota Dashboard.

 

Published in South Dakota Dashboard
Page 6 of 6

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