55416 Zip Code

Below you will find a comprehensive overview of the statistics and characteristics of the 55416 zip code. These include population demographics, economic characteristics, education data, occupation information, housing characteristics, and more.

Key Information:
StateMinnesota
CityMinneapolis
Time ZoneAmerica/Chicago
Geo Location44.94927, -93.33884
Population34181
Size18.957 square miles
Median Family Income$150125.00
Median Home Value$381600.00

Population & Demographics

The following information lists the population statistics and breakdown for the 55416 zip code. The total population is 34181, of which, 17802 are male and 17802 are female. This total population is -1.72% greater than the average. With a total area of 18.957 square miles, the population density is 1742.7 people per square mile. The median age of the population is 35.1 years old. Below you’ll find additional information on the population and demographics of this zip code, including age distribution, race distribution, language spoken, and more.

YearPopulation
201129046
201229587
201329820
201430452
201530707
201630967
201731414
201832171
201933036
202032956
202134181

Age BracketNumber of PeoplePercentage of Population
Under 5 years old 15494.5%
Age 5-916264.8%
Age 10-1413544%
Age 15-1912323.6%
Age 20-2422756.7
Age 25-29543115.9%
Age 30-34355510.4%
Age 35-3925557.5%
Age 40-441834 5.4%
Age 45-4918585.4%
Age 50-5416054.7%
Age 55-5919715.8%
Age 60-6417135%
Age 65-6917965.3%
Age 70-7415874.6%
Age 75-796051.8%
Age 80-845511.6%
Age 85 and over10843.2%


Languages Spoken (of those 5 years of age and older) :
  • Speaks Language other than English: 11.6 %
  • Speaks Spanish: 2.5 %
  • Speaks Other Indo-European Language: 4.8 %
  • Speaks Pacific Island Languages: 1.7 %
  • Speak Other Languages: 2.6 %
Marital Status: 
  • Currently Married: 40.4 %
  • Divorced: 9.2 %
  • Separated (not divorced): 0.6 %
  • Never Married: 45.3 %

Income & Economic Characteristics

The median inflation-adjusted family income in the 55416 zip code is $150125. This is 47.19% greater than the national average. This income places 5.1% of the population below the poverty line. The average retirement income for individuals in this zip code (for those that have it) is $36937. Below you can find additional economic characteristics, including income bracket distribution, median income over time, retirement statistics, and more.

Annual Income Bracket ($)Number of Families in Bracket
Less than $10,000.00113
$10,000.00 – $14,999.0029
$15,000.00 – $24,999.00175
$25,000.00 – $34,999.0098
$35,000.00 – $49,999.00375
$50,000.00 – $74,999.00867
$75,000.00 – $99,999.00580
$100,000.00 – $149,999.001309
$150,000.00 – $199,999,001271
$200,000.00 +2287

YearMedian Family Income ($ USD)
201197780
2012100556
201399688
2014103899
2015108340
2016114766
2017117210
2018122722
2019135313
2020145258
2021150125

Income Source# of Households
Wage or Salary14150
Self Employment1904
Social Security3853
Dividends, Interest, or Rental5329
Retirement2818
Other1403

Total Insured & Uninsured Individuals: 
  • Families Insure: 33154
  • Families Uninsured: 828
Total Individuals with and w/o retirement income:   
  • Yes retirement income: 2818
  • No retirement income: 14572

Education

In the 55416 zip code, 98.3% of individuals over 25 years old have a high school degree or higher, and 72.1% have a bachelors degree or higher. Additionally, 25.6% of individuals 3 years and older are in private school, and 74.4% are in public school. The data below outline the education level breakdown, degree field breakdown, and more.




Occupation and Work Characteristics

In the 55416 zip, there are an estimated 22325 people in the labor force, of which, 21675 are employed, and 642 are unemployed. There are a total of 8 people in the armed forces. The average commute time for this zip code is 20.9 minutes. Of the total people that work, 4300 worked from home and 21465 commuted. The average number of hours worked is 40.8. Below you’ll find additional information on occupation distribution, industry breakdown, commuting characteristics and workplace statistics.

Occupation# of Individual
Management, Business, Science, and Arts13942
Services1723
Sales and Office4394
Construction and Maintenance:356
Transportation and Material Moving1260





Housing

The median home value for the 55416 zip code is 381600. There is an estimated  17390 number of occupied housing units, the median gross rent in is $1453 per month, and the average monthly housing costs are estimated to be $1569. Below you’ll find additional breakdowns of home values, rents, home build years, and more.

Home Value (USD)Number of Homes
Less than $50,00034
$50,000 – $99,00034
$100,000 – $149,999338
$150,000 – $199,999570
$200,000 – $299,9991657
$300,000 – $499,9993373
$500,000 – $999,9992458
$1,000,000+357

Home Year BuiltNumber of Homes
2020 or Later6
2010 – 20191757
2000 – 20091661
1980 – 19993020
1960 – 19793875
1940 – 19594552
1939 or earlier2519

The median number of rooms in all housing units is 4.6 rooms.
Monthly Rent ($ USD)Number of Units
Less than $500243
$500 – $999934
$1,000 – $1,4993369
$1,500 – $1,9992271
$2,000 – $2,499971
$2,499 – $2,999452
$3,000 + 201

Monthly Housing Costs ($)Number of Households
Less than 300197
300-499364
500-7991109
800-9991396
1000-14994976
1500-19993859
2000-24992224
2500-29991447
3000+1690

Monthly Housing Cost as a % of Monthly IncomeNumber of Households
Less than 20%3324
20%-24.9%918
25%-29.9%777
30%-34.9%257
35+%917



# of VehiclesHouseholds
None1087
18170
26650
3+1483
Home Heating Characteristics: 
  • Utility Gas: 67.4 %
  • Bottle Tank or LP Gas: 2.7 %
  • Electricity: 27.2 %
  • Oil or Kerosene etc: 0.1 %
  • Coal or Coke: 0.1 %
  • All Other: 1 %

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All information sourced from official government sources including Census.gov, the IRS, and the Department of Education.