South Dakota is not ranked as the richest state in the country - nor the poorest. We're in the midway point, as we are geographically. Our neighbors to the north, oil-rich North Dakota, soared to 17th richest state in the study while South Dakota came in 30th. Minnesota claimed the 7th richest state, while our southern neighbors, Nebraska, came in 22nd. Iowa was ranked 24th.

The study by WalletHub also revealed a record 7.1 million millionaire households in 2013.

South Dakota ranked 2nd in the % of households with an average annual income between $25,000 and $49,000, while some of the highest average earnings in America is claimed in Iowa.

The study determined the richest and poorest states in the nation based on income, GDP per capita, and tax dollars per capita.