South Dakota Sees 17% Income Boost, Fueled by High-Income Earners Moving Into State. Leads U.S. States in Median Income Growth.

According to a recent survey by the Census Bureau, the U.S. median household income increased by 4% between 2022 and 2023, marking the first significant rise since 2019. From 2018 to 2019, the median income grew by 7% but then stagnated until 2023. South Dakota led the way with a 17% rise. Population growth and higher-earning households moving into South Dakota contributed to this surge. Maryland saw the largest decline, with a 9% drop due to the loss of high earners and slow economic growth.