CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Households with Savings Accounts

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

South Dakota

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN SOUTH DAKOTA

 

Lead State Organization

This state doesn't have a Lead State Organization.

 

Lead Local Organization

Lakota Funds
South Dakota Tribal

 

Click here to learn how to join the Network.

WHAT SOUTH DAKOTA CAN DO

There are many policies that South Dakota could enact to improve its climate for asset building and preservation:

Establish Housing Opportunity Fund: To increase access to safe and affordable housing, South Dakota should establish a Housing Opportunity Fund, which would stimulate additional investment and address the unmet housing needs across the state.

Increase College Attainment: To increase college attainment, particularly for low-income populations, and reduce the college debt burden, the state should match the deposits of those who save in a 529 college savings account and increase the amount of need-based postsecondary financial aid.

Expand Access to Early Childhood Education: To address the waiting lists for Head Start and assure quality early learning for children from low-income families, South Dakota should invest in public-private partnerships and coordinate services through an Early Learning Council.

Overall Rank: 11

Outcome Rankings

Issue Area Rank: 8 | Grade: A

Outcome Measure State Data US Data Rank
Income Poverty Rate 13.1% 14.6% 22
Asset Poverty Rate 26.6% * 26.0%
Asset Poverty by Race 2.1 x higher
for HHs
of color
Asset Poverty by Gender 1.1 x higher
for single women
Asset Poverty by Family Structure 2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 40.2% ** 43.9% N.R.
Liquid Asset Poverty by Race 1.8 x higher
for HHs
of color
Liquid Asset Poverty by Gender 1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 17.5%
Net Worth $119,939 * $68,948
Net Worth by Race 10.3 x higher
for white HHs
Net Worth by Income 68 x higher
for top 20%
Net Worth by Gender 1.18 x higher
for single men
Net Worth by Family Structure 22 x higher
for 2-parent HHs
Unbanked Households 4.4% 8.2% 9
Underbanked Households 22.0% 20.1% 40
Households with Savings Accounts 76.4% 69.2% 11
Consumers with Subprime Credit 45.8% 56.4% 3
Borrowers 90+ Days Overdue 2.97% 4.33% 7
Average Credit Card Debt $6,848 $10,736 8
Bankruptcy Rate (per 1,000 people) 2.2 4.4 7
   
Additional Policies
Income Tax Threshold — No state income tax
Tax Burden by Income — The poorest 20% of families pay 5.5 times more of their income in taxes than the top 1% of families
Prize-Linked Savings — Prize-linked savings not allowed
Paperless Payday — Paperless payday permitted

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

* Indicates that the margin of error is greater than 25% of the estimate, and as such, this estimate is too imprecise to rank. Caution should be used when using this data.

** Indicates that estimate is unable to be ranked because the ranks are too closely clustered to say with confidence how the state compares to other states.

Outcome Rankings

Issue Area Rank: 15 | Grade: B

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 16.4% 16.7% 21
Small Business Ownership Rate 1.80% 1.34% 5
Business Ownership by Race 1.5 x higher
for white workers
1.5 x higher
for white workers
12
Business Ownership by Gender 1.3 x higher
for men
1.3 x higher
for men
24
Business Value by Race 2 x higher
for white bus. owners
2.6 x higher
for white bus. owners
11
Business Value by Gender 3.4 x higher
for men
2.6 x higher
for men
50
Business Creation Rate (per 1,000 workers) 11.1 9.2 15
Private Loans to Small Business $1,981 $1,148 1
Unemployment Rate 4.9% 8.9% 3
Unemployment by Race 3.4 x higher
for people
of color
1.7 x higher
for people
of color
49
Underemployment Rate 9.3% 15.9% 3
Low-Wage Jobs 31.7% 21.5% 45
Average Annual Pay $40,611 $48,043 45
Retirement Plan Participation 50.8% 44.6% 10
Employers Offering Health Insurance 45.1% 51.0% 42
   

Policy Ratings

Policy Priorities
0.5 State Support for Microenterprise
0 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 38.9% of average weekly wage
Unemployment Benefit Eligibility — Uses alternative base period; Part-time workers covered; Some benefits for compelling family reasons
Incentives for Employee Ownership — No state policy
Loans for Beginning Farmers — Has Aggie Bond Program

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 4 | Grade: A

Outcome Measure State Data US Data Rank
Homeownership Rate 68.5% 64.6% 18
Homeownership by Race 1.9 x higher
for white HHs
1.6 x higher
for white HHs
46
Homeownership by Income 2.1 x higher
for top 20%
2.2 x higher
for top 20%
14
Homeownership by Gender 1.1 x higher
for single men
1.01 x higher
for single women
Homeownership by Family Structure 1.7 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
13
Foreclosure Rate 1.49% 4.27% 5
Delinquent Mortgage Loans 1.01% 3.04% 2
High-Cost Mortgage Loans 2.69% 2.47% 37
Affordability of Homes (value/income) 2.7 x higher than median income 3.4 x higher than median income 11
Housing Cost Burden - Homeowners 25.0% 36.9% 4
Housing Cost Burden - Renters 39.7% 53.4% 2
   
Additional Policies
Housing Trust Funds — No statewide housing trust fund
Preservation of Affordable Rental Housing — 24.3% of LIHTC for preservation
Tenant Protections from Foreclosure — No protections beyond federal law
Property Tax Relief — Circuit breaker for homeowners who are elderly or disabled; Tax deferment
Resident Ownership of Manufactured Housing Communities — No protections for homeowners

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 34 | Grade: C

Outcome Measure State Data US Data Rank
Uninsured Rate 13.8% 17.3% 20
Uninsured by Race 3.4 x higher
for people
of color
2 x higher
for people
of color
51
Uninsured by Income 4.4 x higher
for poorest 20%
3.5 x higher
for poorest 20%
42
Uninsured by Gender 1.1 x higher
for men
1.2 x higher
for men
16
Uninsured Low-Income Children 9.1% 10.7% 25
Uninsured Low-Income Parents 30.4% 34.5% 21
Employer-Provided Insurance Coverage 59.9% 57.4% 26
Employee Share of Premium 28.5% 26.4% 30
Out-of-Pocket Medical Expenses 16.2%
   

Policy Ratings

Policy Priorities
0.25 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — COBRA expansion for 36 months
Healthcare Information Databases — Does not have database

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 28 | Grade: C

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 20.4% 28.2% 31
Math Proficiency - 8th Grade 41.7% 34.7% 9
Reading Proficiency - 8th Grade 35.3% 33.5% 19
High School Degree 90.6% 85.9% 12
Two-Year College Degree 36.1% 36.3% 25
Four-Year College Degree 26.3% 28.5% 31
Four-Year Degree by Race 1.8 x higher
for white adults
1.6 x higher
for white adults
37
Four-Year Degree by Income 6.5 x higher
for top 20%
4.6 x higher
for top 20%
48
Four-Year Degree by Gender 1.1 x higher
for women
1.01 x higher
for men
Average College Graduate Debt $24,232 $26,600 24
College Graduates with Debt 76% 66% 47
Student Loan Default Rate 10.3% 13.4% 18
   
Additional Policies
State-Funded Head Start — No state supplement
Quality of State Pre-K Programs — No established state program
Kindergarten Standards — Half Day Kindergarten; separate standards; no certificates or training required for teachers
State Financial Aid for Postsecondary Education — $110 per student; 9% need-based
TANF-Funded Workforce Training — 0% of funds spent on training
WIA-Funded Workforce Training — 56.5% of participants received training

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

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