ZIP code 55416: income, home prices and cost of living

The median household income in ZIP 55416 is $99,383, which is 30% above the Minnesota median of $76,183 and 45% above the national figure. The typical home is valued at $434,600, and the median rent is $1,623/month. 50.7% of households own their home.

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

Median household income

$99,383

Minnesota average
$76,18330%
National
$68,75045%

Median home value

$434,600

Minnesota average
$240,20081%
National
$209,600107%

Median gross rent

$1,623

Minnesota average
$90679%
National
$98465%

Median age

35.3 yrs

Minnesota average
41.1 yrs14%
National
41.0 yrs14%

Homeownership rate

50.7%

Minnesota average
82.1%38%
National
75.8%33%

Bachelor's degree or higher

45.9%

Minnesota average
17.8%158%
National
15.9%189%

How ZIP 55416 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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Homes in 55416 typically sell around $434,600. Compare what a vetted mortgage pro can actually offer you before you commit.

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Nearby ZIP codes in Minnesota

55415554175541455418554135541955412554205541155421

Or compare 55416 with 55415.

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See every local figure on the Minnesota money guide.

What people search about ZIP 55416

Searches for the cost of living in 55416, the median household income in 55416, average rent in 55416 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 55416, 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.