ZIP 55416 - 860Z200US55416 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 55416, located in the heart of Minnesota’s Twin Cities area, 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 costs, and diversity to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into what makes ZIP 55416 unique and how its characteristics can align with your goals.

Population & Households

ZIP 55416 is home to a population of 34,905 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 17,816 households, reflecting a mix of family units, singles, and shared living arrangements. The area also has 19,197 total housing units, indicating a slight surplus of available properties relative to occupied households. This balance suggests potential opportunities for buyers or renters looking to settle in a well-established neighborhood with room for growth.

Income & Housing Costs

Financially, ZIP 55416 stands out with a median household income of $105,926, pointing to a relatively affluent community. This income level supports a robust local economy, which can be a draw for businesses and investors. On the housing front, the median home value is $457,300, reflecting a competitive real estate market that caters to buyers with solid budgets. For renters, the median rent is $1,701 per month, which aligns with the area’s higher income bracket but may require careful budgeting for some. These figures highlight ZIP 55416 as a premium location with significant investment potential.

Race & Ethnicity

The demographic makeup of ZIP 55416 offers insight into its cultural fabric. The population is predominantly White at 78.82%, with smaller but notable representation from other groups: Black residents make up 4.91%, Asian residents account for 3.58%, and Hispanic or Latino individuals comprise 7.55%. This diversity, while not as pronounced as in some urban centers, contributes to a community with varied perspectives and cultural influences, which can enrich local businesses and social interactions.

Key Facts

• Total population: 34,905 residents in ZIP 55416 as of 2023.
• Total households: 17,816, indicating a mix of living arrangements.
• Total housing units: 19,197, suggesting availability for new occupants.
• Median household income: $105,926, reflecting strong earning power.
• Median home value: $457,300, a marker of a high-value market.
• Median rent: $1,701, consistent with the area’s income levels.
• Racial composition: 78.82% White, 7.55% Hispanic, 4.91% Black, 3.58% Asian.

What This Means for You

For homebuyers, ZIP 55416 offers a stable, affluent community with median home values at $457,300. The slight surplus of housing units (19,197 vs. 17,816 households) could mean less competition for properties, but the price point requires financial readiness. If you’re seeking a long-term investment in a desirable area near the Twin Cities, this ZIP code checks many boxes.

For real estate investors and agents, the high median income of $105,926 signals a market with purchasing power, while the median rent of $1,701 suggests strong rental demand. The data points to opportunities for both flipping properties and securing steady rental income, especially given the area’s economic strength.

For small-business owners, the population of 34,905 and above-average income levels create a promising customer base. Whether you’re opening a retail shop, restaurant, or service-based business, the diversity (e.g., 7.55% Hispanic, 3.58% Asian) also allows for niche marketing to specific cultural groups, enhancing your reach.

For analysts, these metrics provide a foundation for deeper research into market trends, housing affordability, and demographic shifts in ZIP 55416. The balance of income and housing costs could inform studies on economic equity or growth projections.

Run This Study Yourself

• Curious about other ZIP codes or want updated data for ZIP 55416? Start by visiting ZipcodeGPT to access powerful demographic tools.
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• Use the insights to guide your next home purchase, investment decision, or business strategy with confidence.