ZIP 55409 - 860Z200US55409 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 55409, located in the heart of Minneapolis, Minnesota, understanding the local demographics and housing landscape is essential. This snapshot, based on 2023 data, provides a clear picture of the population, income levels, housing costs, and cultural diversity in this vibrant area. Whether you’re a homebuyer, real estate investor, small-business owner, or data analyst, these insights will help you make informed decisions about living or working in ZIP 55409.

Population & Households

ZIP 55409 is home to a population of 11,405 residents, making it a moderately sized community within the Minneapolis area. These individuals are distributed across 5,108 households, reflecting a mix of family and individual living arrangements. With 5,488 total housing units in the area, there’s a slight surplus of available homes compared to occupied households, which could indicate opportunities for buyers or renters looking to settle in this neighborhood.

Income & Housing Costs

The median household income in ZIP 55409 stands at $98,056, suggesting a relatively affluent community with strong earning potential. This income level supports a robust housing market, where the median home value is $365,500. For those considering renting, the median rent is $1,364 per month, which aligns with the area’s higher-than-average income and property values. These figures indicate that ZIP 55409 offers a stable economic environment, appealing to both homeowners and investors seeking long-term value.

Race & Ethnicity

The demographic makeup of ZIP 55409 reflects a diverse yet predominantly white community. Approximately 72.98% of residents identify as white, while 8.49% are Black, 3.08% are Asian, and 8.26% identify as Hispanic. This mix contributes to a culturally rich environment, offering a blend of perspectives and experiences. For businesses and investors, this diversity can translate into varied customer bases and opportunities to cater to different cultural needs.

Key Facts

• Total population: 11,405 residents, providing a solid community base.
• Total households: 5,108, indicating a mix of family and solo living.
• Total housing units: 5,488, with some availability for new occupants.
• Median household income: $98,056, reflecting economic stability.
• Median home value: $365,500, a strong investment potential.
• Median rent: $1,364, competitive for the income level.
• Racial diversity: 72.98% white, with notable Black, Asian, and Hispanic populations.

What This Means for You

For homebuyers, ZIP 55409 offers a promising market with a median home value of $365,500, backed by a median household income of $98,056. This suggests that properties here hold value and are supported by a financially stable community. The slight surplus of housing units (5,488 total versus 5,108 households) may also provide some negotiating room in a competitive market.

For investors and real estate agents, the data points to a healthy rental market with a median rent of $1,364, appealing to tenants with above-average incomes. The area’s diversity and population size also suggest consistent demand for housing, whether for rentals or flips, making ZIP 55409 a worthwhile consideration for your portfolio.

For small-business owners, the diverse demographic profile and solid income levels indicate a customer base with varied needs and disposable income. Whether you’re opening a retail store, restaurant, or service-based business, the 11,405 residents of ZIP 55409 offer a sizable market to tap into, with cultural diversity providing opportunities for niche offerings.

For analysts, this data serves as a foundation for deeper research into housing trends, economic growth, or community development in ZIP 55409. The balance of income, housing costs, and diversity offers a compelling case study for urban planning or market analysis.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 55409? 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, 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.