by Kristen Carney
Updated: June 20, 2024
The richest county in South Dakota is Lincoln County with an average household income of $119,547 as of 2022 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 | $119,547 | $92,317 |
2 | Union County | 17,183 | $113,111 | $82,036 |
3 | Stanley County | 3,043 | $106,276 | $82,298 |
4 | Lake County | 11,031 | $105,315 | $74,884 |
5 | Harding County | 1,324 | $105,058 | $71,484 |
6 | Marshall County | 4,390 | $104,071 | $74,018 |
7 | Jerauld County | 1,660 | $103,242 | $66,607 |
8 | Edmunds County | 4,057 | $102,116 | $76,806 |
9 | Custer County | 9,117 | $97,012 | $75,943 |
10 | Aurora County | 2,782 | $96,992 | $71,490 |
11 | Minnehaha County | 206,930 | $95,106 | $73,110 |
12 | Douglas County | 2,838 | $94,978 | $75,048 |
13 | Sully County | 1,494 | $94,785 | $66,875 |
14 | Hanson County | 3,471 | $94,654 | $86,827 |
15 | Campbell County | 1,340 | $93,912 | $66,932 |
16 | Grant County | 7,553 | $92,894 | $70,851 |
17 | Perkins County | 2,834 | $92,552 | $64,410 |
18 | Pennington County | 115,903 | $92,323 | $67,823 |
19 | Clark County | 3,948 | $92,044 | $59,340 |
20 | McPherson County | 2,334 | $90,954 | $58,529 |
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, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
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