ZIP code 55040: income, home prices and cost of living

The median household income in ZIP 55040 is $82,440, which is 8% above the Minnesota median of $76,183 and 20% above the national figure. The typical home is valued at $259,300, and the median rent is $1,133/month. 86.3% of households own their home.

Source: U.S. Census Bureau, American Community Survey (5-year). Latest observation ACS 2022.

Median household income

$82,440

Minnesota average
$76,1838%
National
$68,75020%

Median home value

$259,300

Minnesota average
$240,2008%
National
$209,60024%

Median gross rent

$1,133

Minnesota average
$90625%
National
$98415%

Median age

36.5 yrs

Minnesota average
41.1 yrs11%
National
41.0 yrs11%

Homeownership rate

86.3%

Minnesota average
82.1%5%
National
75.8%14%

Bachelor's degree or higher

15.3%

Minnesota average
17.8%14%
National
15.9%4%

How ZIP 55040 compares with Minnesota and the U.S.

State and national bars are the median across ZIP Code Tabulation Areas. Source: U.S. Census Bureau, American Community Survey (5-year), 2022.

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Nearby ZIP codes in Minnesota

55041550385504255037550445504555046550335505155025

Or compare 55040 with 55041.

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What people search about ZIP 55040

Searches for the cost of living in 55040, the median household income in 55040, average rent in 55040 and home values in this part of Minnesota all come back to the same Census figures shown above. Use them alongside a mortgage payment estimate, a property tax estimate and a household budget before you compare this ZIP code with a neighbouring one.

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Methodology

Figures describe ZIP Code Tabulation Area 55040, the Census Bureau's statistical approximation of the ZIP code. Values are median estimates for the five-year period ending 2022.

State and national benchmarks are the median of all ZCTAs in that geography with at least 1,000 residents, computed by us from the same public dataset.

Sources: U.S. Census Bureau, American Community Survey (5-year). American Community Survey 5-year estimates, 2022.