Historical data
Pick an indicator to see its long-run evolution.
Median household income
1980–2023Census/ACS, nominal dollars.
Gross Domestic Product
South Dakota's GDP reached approximately $76 billion in 2024, ranking 46th among U.S. states.
Real GDP (chained 2017 dollars)
1997–2025BEA, chained 2017 dollars (FRED SDRGSP).
| Indicator | South Dakota | U.S. |
|---|---|---|
| GDP ($ billions) | 76 | 29000 |
- •South Dakota's GDP has grown steadily due to agriculture, financial services, and manufacturing.
GDP Growth
South Dakota's real GDP grew approximately 2.6% in 2024, outperforming many neighboring states.
Real GDP growth
1998–2025Annual % change in BEA real GDP (SDRGSP).
| Indicator | South Dakota | U.S. |
|---|---|---|
| Real GDP Growth (%) | 2.6 | 2.8 |
- •Financial services, driven by favorable banking laws, are a major contributor to South Dakota's GDP growth.
Personal Income
South Dakota's per capita personal income was $73,900 in 2023, exceeding the U.S. average of $69,810.
Per capita personal income
1970–2025BEA, current dollars (FRED SDPCPI).
| Indicator | South Dakota | U.S. |
|---|---|---|
| Per Capita Personal Income ($) | 73900 | 69810 |
- •South Dakota's lack of a state income tax boosts residents' take-home personal income.
Median Household Income
South Dakota's median household income was $71,800 in 2023, below the national median of $80,610.
Median household income (CPS)
1984–2025Census CPS ASEC, current dollars (FRED MEHOINUSSDA646N).
| Indicator | South Dakota | U.S. |
|---|---|---|
| Median Household Income ($) | 71800 | 80610 |
- •South Dakota's low cost of living, at 92.4 of the national index, offsets its below-average incomes.
Poverty Rate
South Dakota's poverty rate was 11.4% in 2023, slightly above the national rate of 11.1%.
Poverty rate, all ages (SAIPE)
1989–2024Census Small Area Income and Poverty Estimates (FRED PPAASD46000A156NCEN).
| Indicator | South Dakota | U.S. |
|---|---|---|
| Poverty Rate (%) | 11.4 | 11.1 |
- •Poverty rates on South Dakota's tribal reservations are significantly higher than the statewide average.
Inflation
South Dakota's cost of living index of 92.4 reflects lower-than-average prices, even as national inflation pressures persisted through 2023-2024.
CPI inflation, U.S.
2007–2024BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
CPI inflation, Midwest region
2007–2025BLS CPI-U all items, Midwest region, annual average change (CUUR0200SA0).
- •South Dakota's healthcare costs, at an index of 101, are the only category above the national average.
Economic Output
South Dakota's GDP per capita was $82,100 in 2024, roughly on par with the national average of $82,000.
Nominal GDP (current dollars)
1997–2025BEA, current dollars (FRED SDNGSP).
| Indicator | South Dakota | U.S. |
|---|---|---|
| GDP per Capita ($) | 82100 | 82000 |
- •South Dakota's economic output per person has grown significantly amid strong ag commodity prices and financial services expansion.
Industry Breakdown
South Dakota's economy is anchored by financial services, agriculture, and manufacturing, with Sioux Falls serving as a major banking hub.
Government jobs
1990–2025BLS Current Employment Statistics, annual average (FRED SDGOVT).
Manufacturing jobs
1990–2025BLS Current Employment Statistics, annual average (FRED SDMFG).
Construction jobs
1990–2025BLS Current Employment Statistics, annual average (FRED SDCONS).
| Indicator | South Dakota | U.S. |
|---|---|---|
| Finance Sector Share of GDP (%) | 14 | 8 |
- •South Dakota's favorable banking laws have made Sioux Falls a major credit card and financial services hub since the 1980s.