by Kristen Carney
Updated: December 17, 2024
The richest county in South Dakota is Lincoln County with an average household income of $129,224 as of 2023 and 73,238 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | Lincoln County | 73,238 | $129,224 | $96,552 |
2 | Union County | 17,183 | $116,720 | $84,137 |
3 | Harding County | 1,324 | $109,939 | $74,766 |
4 | Custer County | 9,117 | $109,295 | $81,958 |
5 | Edmunds County | 4,057 | $109,208 | $77,266 |
6 | Jerauld County | 1,660 | $106,575 | $75,417 |
7 | Stanley County | 3,043 | $106,448 | $77,000 |
8 | Sully County | 1,494 | $106,129 | $70,250 |
9 | Marshall County | 4,390 | $101,999 | $72,500 |
10 | Aurora County | 2,782 | $101,472 | $74,130 |
11 | Hamlin County | 6,451 | $101,165 | $83,194 |
12 | Lake County | 11,031 | $100,698 | $73,792 |
13 | Minnehaha County | 206,930 | $100,454 | $76,074 |
14 | Hanson County | 3,471 | $99,652 | $86,375 |
15 | Perkins County | 2,834 | $98,722 | $65,455 |
16 | McCook County | 5,809 | $97,710 | $80,847 |
17 | Pennington County | 115,903 | $95,438 | $70,768 |
18 | Hand County | 3,107 | $95,268 | $72,054 |
19 | Moody County | 6,450 | $94,107 | $77,500 |
20 | Yankton County | 23,517 | $94,056 | $73,855 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
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