Median Household Income in Turton, SD (2010-2021, in 2022 inflation-adjusted dollars)
Below, you will find a table illustrating the median household income in Turton, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars.
Year | Median Household Income | YOY Change($) | YOY Change(%) |
---|---|---|---|
2010 | 34,856 | - | - |
2011 | 25,062 | -9,794 | -28.10% |
2012 | 44,828 | 19,766 | 78.87% |
2013 | 74,913 | 30,085 | 67.11% |
2014 | 72,289 | -2,624 | -3.50% |
2015 | 72,164 | -125 | -0.17% |
2016 | 63,447 | -8,717 | -12.08% |
2017 | 75,150 | 11,703 | 18.45% |
2018 | 94,986 | 19,836 | 26.40% |
2019 | 93,293 | -1,693 | -1.78% |
2020 | 95,373 | 2,080 | 2.23% |
2021 | 92,553 | -2,820 | -2.96% |
TABLE OF CONTENTS
Turton, SD median household income trends: 2010 to 2021
From 2010 to 2021, the median household income for Turton increased by $57,697 (165.53%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.
Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 5 years and declined for 6 years.
The most significant year-by-year growth occured from 2012 to 2013, when the median household income increased by 30,085 (from $44,828 to $74,913). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 9,794 (from $34,856 to $25,062).
In South Dakota, among cities with populations of fewer than 5,000 residents, Turton ranks 10th out of 223 for median household income. This rank highlight its position as one of the top-earning small cities within the state of South Dakota.
Things to know
What is the Gini index for Turton, SD?
As per the Census Bureau, the Gini coefficient for Turton is 0.4598. With this value of Gini coefficient, it is evident that income distribution in Turton exihibits characterstics of moderate inequality .
This level of Gini coefficient suggests noticeable variations in income distribution across households, with certain segments of the population holding a larger share of income compared to others in Turton.
It also implies that efforts may be needed to enhance economic fairness and reduce the gap between income groups in Turton
What is the median household income in Turton, SD?
As per the latest data available from American Community Survey, the median household income for Turton is $92,553 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 124.06% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
How does Turton, SD median household income compare to the rest of the United States?
In South Dakota, among cities with populations of fewer than 5,000 residents, Turton ranks 10th out of 223 for median household income. This rank highlight its position as one of the top-earning small cities within the state of South Dakota.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)