ZIP 55415 - 860Z200US55415 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 55415, 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 dynamic urban area. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions about living or working in ZIP 55415.

Population & Households

ZIP 55415 is home to a population of 6,474 residents as of 2023. This compact urban area supports 2,940 households, reflecting a community of moderate density. With 3,124 total housing units available, there’s a slight surplus of homes compared to occupied households, which could indicate opportunities for buyers or renters looking to settle in this area. The ratio of population to households suggests an average household size of roughly 2.2 people, pointing to a mix of singles, couples, and small families.

Income & Housing Costs

One of the standout metrics for ZIP 55415 is its strong median household income of $126,480. This figure positions the area as a relatively affluent pocket within Minneapolis, appealing to professionals and families with higher earning potential. Housing costs align with this income level, with a median house value of $581,500. For renters, the median monthly rent stands at $1,836, reflecting the premium nature of living in this urban ZIP code. These numbers suggest that ZIP 55415 caters to those with above-average financial resources, though affordability may be a concern for some prospective residents or businesses.

Race & Ethnicity

The cultural fabric of ZIP 55415 is diverse, offering a blend of backgrounds that enrich the community. The racial composition in 2023 breaks down as follows: 60.78% White, 18.18% Black, 9.45% Asian, and 4.02% Hispanic, with the remainder comprising other or mixed-race individuals. This diversity creates a vibrant, multicultural environment, which can be a draw for residents and businesses seeking an inclusive community. For small-business owners, this mix may also present opportunities to cater to varied customer preferences and needs.

Key Facts

• Total population in ZIP 55415: 6,474 residents in 2023.
• Total households: 2,940, with an average size of about 2.2 people.
• Total housing units: 3,124, indicating a small surplus of available homes.
• Median household income: $126,480, reflecting a high-earning community.
• Median house value: $581,500, signaling a premium real estate market.
• Median rent: $1,836 per month, consistent with an upscale urban area.
• Racial diversity: Predominantly White (60.78%), with significant Black (18.18%) and Asian (9.45%) populations.

What This Means for You

For homebuyers, ZIP 55415 offers a chance to invest in a high-value area with a median home price of $581,500. The strong median income of $126,480 suggests a stable community, but be prepared for competitive pricing and higher living costs, especially with rents averaging $1,836 monthly. If you’re looking for a culturally diverse urban setting, this ZIP code delivers.

For investors and real estate agents, the slight surplus of housing units (3,124 vs. 2,940 households) could indicate potential for rental or resale opportunities. The affluent demographic and premium property values make this an attractive market for high-end investments, though careful financial planning is needed given the cost of entry.

For small-business owners, the diverse population of 6,474 and the high median income present a promising customer base with disposable income. Tailoring offerings to a multicultural audience while accounting for higher operational costs (like rent) could position your business for success in ZIP 55415.

For analysts, these metrics provide a foundation for deeper studies into urban trends, housing affordability, and demographic shifts in Minneapolis. The data highlights a prosperous yet diverse community worth monitoring for future growth patterns.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 55415? 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 inform your next home purchase, investment, or business strategy with confidence.