Comprehensive salary data, cost of living, tax rates, and employment information for South Dakota.
Reviewed by Alexander O.M., MBA, BSc Engineering•Updated
South Dakota has no state income tax, and the state has unusually strong personal-asset-protection trust laws that have made it one of the most important onshore trust jurisdictions in the US — a significant portion of dynasty trusts and wealth-planning vehicles in the country are domiciled in South Dakota. The $69,457 median household income is close to the national average, and the cost-of-living index of 92 gives households solid effective purchasing power. Sioux Falls is the economic centre by a wide margin; the relocation of Citigroup's credit-card operations there in the 1980s (enabled by a 1980 state law removing interest-rate caps) launched what is now one of the largest credit-card processing and banking-back-office clusters in the country. Sanford Health is the largest private employer and one of the largest rural healthcare systems in the US. Rapid City and the Black Hills region have a different economy driven by tourism and federal employment (Ellsworth AFB, national parks and monuments). The $11.20/hour minimum wage is indexed to inflation. Property taxes are moderate. Agriculture (cattle, corn, soybeans) remains a major part of the rural economy. Full breakdown follows.
Median Individual
$34,510
per year
Median Household
$69,457
per year
Cost of Living
92
Affordable (US avg = 100)
State Income Tax
0%
rate
Salary Overview for South Dakota
The median individual income in South Dakota is $34,510 per year, while the mean (average) individual income is $43,070. The median household income is $69,457.
Cost of Living Adjusted Salary
South Dakota's cost of living index is 92 (national average = 100). This means the median salary of $34,510 in South Dakota has the purchasing power of approximately $37,511 at the national average cost of living. Your dollar goes further in South Dakota than in most states.
Minimum Wage in South Dakota
The current minimum wage in South Dakota is $11.20/hour, which equals approximately $23,296 per year for a full-time worker (40 hours/week, 52 weeks). See our complete South Dakota minimum wage guide for tipped wages, scheduled increases, and more.
Top Employers in South Dakota
Sanford Health
Avera Health
Citigroup
Major Industries in South Dakota
Healthcare
Finance
Agriculture
Tax Rates in South Dakota
See the full tax breakdown including income tax, sales tax, property tax, and more on our South Dakota tax rates page.
Calculate Your Take-Home Pay
Use our Salary Calculator to convert between hourly, weekly, monthly, and annual pay, and estimate your take-home pay in South Dakota after federal and state taxes.