ZIP 55124 - 860Z200US55124 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 55124, located in the Apple Valley area of Minnesota, this demographic and housing snapshot offers a clear picture of the community. With data from 2023, we’ve compiled key metrics on population, income, housing, and diversity to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into what makes ZIP 55124 unique and how it can align with your goals.

Population & Households

ZIP 55124 is home to a substantial population of 55,675 residents, making it a vibrant and sizable community. This area supports 21,460 households, reflecting a strong base of families and individuals. With 21,894 total housing units, there’s a tight balance between supply and demand, as nearly all units are occupied. This high occupancy rate suggests a stable residential environment, which could appeal to those looking for a settled, active neighborhood.

Income & Housing Costs

The median household income in ZIP 55124 stands at $99,354, indicating a relatively affluent community with solid earning potential. This income level supports a robust local economy, which can be a draw for businesses and investors alike. On the housing front, the median home value is $354,200, positioning this area as a mid-to-upper range market. For renters, the median rent is $1,676 per month, reflecting a competitive rental landscape that aligns with the area’s income and property values. These figures suggest that ZIP 55124 offers opportunities for both homeownership and rental investments, depending on your financial strategy.

Race & Ethnicity

Diversity is a notable feature of ZIP 55124, with a racial and ethnic composition that reflects a mix of backgrounds. The population is 68.51% White, 10.5% Black, 6.33% Asian, and 7.29% Hispanic. This blend contributes to a culturally rich environment, which can be a significant asset for businesses catering to varied customer bases or families seeking an inclusive community. Understanding this demographic makeup can help tailor real estate marketing, business offerings, or community engagement efforts to resonate with local residents.

Key Facts

• Total population: 55,675 residents, indicating a sizable and active community.
• Total households: 21,460, showing a strong base of family and individual units.
• Total housing units: 21,894, with high occupancy suggesting stable demand.
• Median household income: $99,354, reflecting a financially secure population.
• Median home value: $354,200, positioning this as a competitive housing market.
• Median rent: $1,676, indicating a strong rental market for investors.
• Diversity: 68.51% White, 10.5% Black, 6.33% Asian, 7.29% Hispanic, offering cultural richness.

What This Means for You

For homebuyers, ZIP 55124 presents a stable, family-friendly community with a median home value of $354,200 that reflects quality and potential for long-term value growth. The high occupancy rate means you’ll need to act quickly on available properties, but the median income of $99,354 suggests neighbors with financial stability. For investors and real estate agents, the tight housing market and strong rental rates ($1,676 median rent) point to opportunities in both buying properties for appreciation and securing rental income. The area’s diversity also allows for targeted marketing to different demographic groups. For small-business owners, the sizable population and solid income levels create a promising customer base, while the cultural diversity offers a chance to cater to varied tastes and needs. Finally, analysts can use this data to benchmark ZIP 55124 against other areas, identifying trends in housing demand or economic growth. Whether you’re buying, investing, or building a business, this ZIP code offers a foundation for success.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 55124? 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 next home purchase, investment, or business venture with confidence.