South Dakota has experienced some serious growth over the last 20 years. Back in 2000, the population of the state was 754,844. Over two decades, it grew by 22%, to nearly 925,000 as of 2024. This growth has coincided with a growth in wealth and economic dynamism.
An ongoing series of analyses have been examining the latest Census Bureau data to drilldown on what the richest cities in South Dakota are. This study analyzed 277 cities — what the Census Bureau designates as “places” — in South Dakota that had complete data from the Census Bureau, in terms of their median household income, mean (average) household income, median home value, and median property taxes paid per year, to come up with a list of the 15 richest cities in the state.
Read on to find out what the richest city in South Dakota is, plus the top 15 wealthiest cities in the state overall.
What Are the Richest Cities in South Dakota?
In order to compile this list of the richest cities in South Dakota, key financial data from the Census Bureau’s 2023 American Community Survey was sourced, which enabled the creation of a four-factor scoring system to help identify the wealthiest cities in South Dakota:
- Median household income
- Mean (average) household income
- Median home value
- Median property taxes paid
When analyzing the data, it is important to note that Census figures have upper limits, so there’s no exact value for certain factors. For example, for median household income, the Census Bureau has an upper limit of “$250,000+”. For median home value, the upper limit is “$2,000,000+”. For median property taxes paid, the upper limit is “$10,000+”. For these reasons, the mean household income (which is the same as average household income) dataset is particularly useful. Since the Census Bureau has exact figures for it, it’s an even more precise barometer of wealth. All four of these metrics were scored, added up, and then ranked by the cities’ combined scores.
Another aspect of the Census to point out, and is particularly relevant to South Dakota, is the Census-designated place—CDP. The Census, more or less, treats CDPs as cities—their terminology is “place” —and so will this list of the richest cities in South Dakota. This could be the reason why a city you consider a neighborhood or community is part of this Census data.
Below, you’ll find a table detailing the top 15 richest cities in South Dakota and their respective dollar figures for each metric, below:
The No. 1 richest city in South Dakota in our ranking is Mountain Plains is an unincorporated area and census-designated place in Lawrence County, just south of Spearfish. This is a small town, with just 168 households. Incomes here are far higher than the state’s median of $72,421. The median household income in Mountain Plains is $166,641, while the town’s average household income is much greater—$321,188. The median home value reported by the Census Bureau is $606,100, significantly higher than the state’s overall figure. Property taxes paid per year in Mountain Plains are the third highest in the state. Households pay a median of $5,580 per year.
The No. 2 richest place in South Dakota is another small CDP, Pine Lakes Addition. This place lies to the east of Sioux Falls. This is a square-shaped suburb with few streets and some very nice neighborhoods. Pine Lakes Addition only has 91 households in total. The median household income here is almost $30,000 higher than Mountain Plains’ income, at $192,813. Its mean household income, on the other hand, is almost $50,000 less, at $275,631. The median home value in Pine Lakes Addition is much higher than the state average, at $567,000. Fortunately for householders, the median property taxes paid per year is less than $5,000.
Southeast of Sioux Falls is South Dakota’s third wealthiest place, Shindler, an unincorporated community and census-designated place in Lincoln County. This place has 177 households, a mix of rural and suburban, with many lovely homes. Income figures here are close to those of the No. 1 and No. 2 wealthiest cities. The median household income here is $142,875. The mean household income is more than $100,000 higher than that—$250,765. The median home value reported by the Census Bureau here is just $300 more than in Pine Lakes Addition, $567,000 versus $567,000. Property taxes here are the highest in South Dakota. Households pay a median of $5,993 a year in property taxes.