ZIP code 55340: income, home prices and cost of living

The median household income in ZIP 55340 is $169,762, which is 123% above the Minnesota median of $76,183 and 147% above the national figure. The typical home is valued at $596,300, and the median rent is $1,290/month. 92.0% of households own their home.

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

Median household income

$169,762

Minnesota average
$76,183123%
National
$68,750147%

Median home value

$596,300

Minnesota average
$240,200148%
National
$209,600184%

Median gross rent

$1,290

Minnesota average
$90642%
National
$98431%

Median age

38.3 yrs

Minnesota average
41.1 yrs7%
National
41.0 yrs7%

Homeownership rate

92.0%

Minnesota average
82.1%12%
National
75.8%21%

Bachelor's degree or higher

33.1%

Minnesota average
17.8%86%
National
15.9%108%

How ZIP 55340 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.

See today's rates for homes in your area

Homes in 55340 typically sell around $596,300. Compare what a vetted mortgage pro can actually offer you before you commit.

Talk to a mortgage pro

Nearby ZIP codes in Minnesota

55337553435533655344553455534655347553315533055350

Or compare 55340 with 55337.

Run your own numbers

Cost of living calculatorBudget calculatorMortgage calculator

See every local figure on the Minnesota money guide.

What people search about ZIP 55340

Searches for the cost of living in 55340, the median household income in 55340, average rent in 55340 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.

  • cost of living in 55340
  • median household income in 55340
  • home values in 55340
  • average rent in 55340
  • property tax in 55340
  • housing market in 55340

Methodology

Figures describe ZIP Code Tabulation Area 55340, 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.