ZIP 55108 - 860Z200US55108 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 55108, located in the heart of Minnesota’s Twin Cities area, this demographic and housing snapshot offers a clear picture of the community in 2023. With data on population, income, housing values, and racial composition, this analysis equips homebuyers, real estate investors, small-business owners, and analysts with actionable insights. Whether you’re eyeing a family home, a rental property, or a commercial space, understanding ZIP 55108’s profile can guide your next steps.

Population & Households

ZIP 55108 is home to a population of 15,339 residents as of 2023, making it a moderately sized community with a mix of urban and suburban vibes. These residents are distributed across 6,743 households, reflecting a diverse range of living arrangements, from families to students and professionals. With 6,938 total housing units in the area, there’s a slight surplus of homes compared to households, which could indicate some availability for new residents or investors looking for opportunities.

Income & Housing Costs

The median household income in ZIP 55108 stands at $84,583, suggesting a relatively comfortable economic base for many residents. This income level supports a housing market where the median house value is $365,400—a figure that positions the area as a solid investment for buyers seeking long-term value appreciation. For renters, the median rent is $1,344 per month, which aligns with the income levels and reflects a competitive rental market. These metrics indicate that ZIP 55108 offers a balanced cost of living for both homeowners and tenants, appealing to a wide range of budgets.

Race & Ethnicity

The demographic makeup of ZIP 55108 is predominantly White, with 74.29% of the population identifying as such. Other significant groups include Asian residents at 8.13%, Black residents at 7.89%, and Hispanic or Latino residents at 4.64%. This diversity, while not as pronounced as in some urban centers, contributes to a culturally varied community. For businesses and investors, this mix can inform marketing strategies or community engagement efforts, ensuring they resonate with the local population.

Key Facts

• Total population: 15,339 residents in 2023, offering a mid-sized community feel.
• Total households: 6,743, with a range of family and individual living arrangements.
• Total housing units: 6,938, indicating potential availability for new residents or investors.
• Median household income: $84,583, supporting a stable economic environment.
• Median house value: $365,400, reflecting a strong real estate market.
• Median rent: $1,344, competitive for the area’s income levels.
• Racial composition: 74.29% White, 8.13% Asian, 7.89% Black, 4.64% Hispanic.

What This Means for You

For homebuyers, ZIP 55108 presents a promising market with median home values at $365,400, suggesting potential for equity growth over time. The slight surplus of housing units (6,938 vs. 6,743 households) may offer some negotiating power, though competition could still be stiff given the area’s appeal. With a median income of $84,583, the community supports a stable lifestyle, ideal for families or professionals seeking a reliable neighborhood.

For investors and real estate agents, the rental market in ZIP 55108, with a median rent of $1,344, indicates steady demand, especially near educational or employment hubs in the Twin Cities. The population size and diversity also suggest opportunities for multi-family units or student housing, depending on proximity to local institutions.

For small-business owners, the demographic diversity (74.29% White, 8.13% Asian, 7.89% Black, 4.64% Hispanic) and solid median income provide a foundation for targeting a varied customer base. Retail, dining, or service-based businesses could thrive by catering to the community’s needs and cultural preferences.

For analysts, these metrics offer a baseline for deeper research into trends like housing occupancy rates or income growth, helping to predict future market shifts in ZIP 55108.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 55108? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Input any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your needs.
• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business venture.