ZIP 55402 - 860Z200US55402 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 55402, this demographic and housing snapshot offers a clear, data-driven look at the area. Located in the heart of Minneapolis, Minnesota, this ZIP code represents a compact urban enclave with unique characteristics. With a population of just 760 residents as of 2023, it’s a small but dynamic community. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, understanding the makeup of this area can help you make informed decisions. Let’s break down the key metrics around population, income, housing, and diversity to give you a comprehensive view.

Population & Households

ZIP 55402 is home to 760 individuals across 506 households, reflecting a tight-knit urban setting. The average household size is relatively small, suggesting a mix of singles, couples, or small families. This low population density within a central city location points to a highly urbanized area, likely dominated by apartment living or condominiums rather than sprawling single-family homes. For those looking at this area, it’s important to note the limited number of households, which could mean less competition for housing but also a smaller customer base for businesses.

Income & Housing Costs

The median household income in ZIP 55402 stands at $69,808, indicating a moderate earning level that aligns with urban living costs. While data on median house values is unavailable, the median rent of $1,650 per month provides insight into the cost of living. This rent level suggests that housing in this area caters to middle-income renters, likely in multi-unit buildings or apartments. For potential residents, this rent figure offers a benchmark for budgeting, while investors can use it to gauge rental income potential. Small-business owners should consider this income level when assessing the purchasing power of local residents.

Race & Ethnicity

The demographic composition of ZIP 55402 reflects a diverse yet predominantly white population. As of 2023, the racial breakdown is as follows: 74.47% white, 10.66% Black, 4.08% Asian, and 8.16% Hispanic. This mix indicates a community with some cultural variety, which can be a draw for those seeking an inclusive environment. For businesses, this diversity suggests opportunities to cater to varied tastes and needs, while homebuyers might appreciate the blend of perspectives in this urban pocket.

Key Facts

• Total population: 760 residents in ZIP 55402 as of 2023.
• Total households: 506, indicating small average household sizes.
• Total housing units: 564, with a slight surplus over occupied households.
• Median household income: $69,808, reflecting moderate earning capacity.
• Median rent: $1,650 per month, a key figure for renters and investors.
• Racial composition: 74.47% white, with notable Black, Asian, and Hispanic representation.

What This Means for You

For homebuyers, ZIP 55402 offers a small, urban community with a manageable population and a median rent of $1,650 that aligns with moderate incomes. The limited number of housing units (564) suggests you’ll need to act quickly when opportunities arise, especially in a central Minneapolis location. Investors and real estate agents can see potential in the rental market, given the income levels and rent costs, though the small population means a limited pool of tenants. Consider focusing on multi-unit properties to maximize returns. Small-business owners should note the modest customer base of 760 residents but leverage the diversity and income levels to offer targeted products or services—think niche cafes or professional services for urban dwellers. Analysts can use these metrics to compare ZIP 55402 with neighboring areas, identifying trends in urban density and affordability.

Run This Study Yourself

• Curious about other ZIP codes or want deeper insights into ZIP 55402? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
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