ZIP 55024 - 860Z200US55024 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 55024 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of the area in 2023. Located in a vibrant part of Minnesota, this ZIP code encompasses a growing community with strong economic indicators and a diverse population. Whether you’re a homebuyer, real estate investor, small-business owner, or data analyst, these insights will help you make informed decisions about opportunities in 55024.

Population & Households

ZIP 55024 is home to a population of 36,681 residents as of 2023, making it a sizable and dynamic community. This area supports 12,539 households, reflecting a strong base of families and individuals. With 12,840 total housing units, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. This balance suggests a stable residential environment with room for growth.

Income & Housing Costs

One of the standout metrics for ZIP 55024 is its median household income of $123,582, which points to a financially robust community. This higher-than-average income level supports a strong local economy, making it an attractive spot for businesses and investors. On the housing front, the median home value stands at $350,500, reflecting a competitive yet accessible real estate market for buyers with solid budgets. For renters, the median rent is $1,427 per month, indicating a rental market that caters to a range of income levels but leans toward the higher end, aligning with the area’s income profile.

Race & Ethnicity

The demographic makeup of ZIP 55024 offers a glimpse into its cultural diversity. The population is predominantly White at 83.87%, with smaller but notable representation from other groups: Black residents make up 3.78%, Asian residents account for 3.18%, and Hispanic or Latino individuals comprise 5.56%. This diversity, while not as pronounced as in some urban centers, contributes to a community with varied perspectives and cultural influences, which can be a draw for businesses and families seeking an inclusive environment.

Key Facts

• Total population in ZIP 55024: 36,681 residents in 2023.
• Total households: 12,539, supporting a strong community base.
• Total housing units: 12,840, with a small surplus over occupied homes.
• Median household income: $123,582, indicating economic strength.
• Median home value: $350,500, reflecting a competitive housing market.
• Median rent: $1,427, catering to a mid-to-high rental segment.
• Racial composition: 83.87% White, 3.78% Black, 3.18% Asian, 5.56% Hispanic.

What This Means for You

For homebuyers, ZIP 55024 offers a promising market with a median home value of $350,500, which aligns well with the area’s high median income of $123,582. This suggests you’ll be joining a financially stable community with good long-term value potential. The slight surplus of housing units could mean less competition for available homes, giving you room to negotiate.

For investors and real estate agents, the numbers point to opportunity. The income levels support a market where residents can afford premium properties or rentals, and the $1,427 median rent indicates a viable rental income stream. The small gap between total housing units and households might also signal potential for flipping or developing properties.

For small-business owners, the strong median income and sizable population of 36,681 create a customer base with disposable income. Whether you’re opening a retail shop, service, or restaurant, the economic stability and diversity (albeit moderate) in 55024 can help sustain your business.

For analysts, these metrics provide a foundation for deeper research into growth trends, housing demand, and economic forecasts. The data reflects a balanced community with potential for expansion, especially in housing and local commerce.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 55024? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing costs, and more, tailored to your needs.
• Use the insights to make data-driven decisions for your home purchase, investment, or business strategy—empower yourself with the right information.