| ZIP Code | 55020 |
|---|---|
| City | Elko New Market |
| State | Minnesota (MN) |
| County | Scott County |
| Area Code | 952 |
| Elevation | 1,092 ft |
| Latitude | 44.578265 |
|---|---|
| Longitude | -93.374344 |
| Timezone | Chicago (DST) |
| FIPS | 27139 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 34.1 yrs ↑ 2% since 2019 |
|---|---|
| Avg Household Size | 3.06 |
| Below Poverty | 3.2% ▼ 68% below avg |
| College Grads | 59.1% ▲ 53% above avg |
| Unemployment | 1.3% ▼ 74% below avg |
| No HS Diploma | 26 (0.9%) |
| HS Graduate | 628 (22.1%) |
| Some College | 130 (4.6%) |
| Associates | 376 (13.3%) |
| Bachelors | 596 (21%) |
| Graduate Degree | 1,080 (38.1%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $127,159 ▲ 67% above avg ↑ 8% since 2019 |
|---|---|
| Median Home Value | $452,700 ▲ 62% above avg ↑ 23% since 2019 |
| Home/Income Ratio | 3.6x (nat avg ~3.5x) |
| Total Units | 1,501 |
| Vacant Units | 74 |
| Avg HH Size | 3.06 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 1,501 |
|---|---|
| Vacant | 74 |
| Owner Occupied | 99.3% |
| Renter Occupied | 0.7% |
| Avg HH Size | 3.06 |
ZIP code 55020 is located in Elko New Market, Minnesota, within Scott County. With a population of 4,391, this is a lightly populated ZIP code with a relatively young community — the median age is 34.1 years. Economically, 55020 is a upper-middle-income ZIP code: the median household income of $127,159 is significantly above the national average.
Real estate in ZIP code 55020 represents a premium housing market. The median home value of $452,700 is significantly above the national average. Homeownership is strong here — 99.3% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 23% since 2019.
The population of 55020 is primarily White (87.82%). Residents are well-educated — 59.1% hold a bachelor's degree or higher, which is significantly above the national average. Poverty affects a relatively small share of residents at 3.2%. Household income has grown by 8% since 2019.
The unemployment rate in 55020 stands at 1.3%, which is well below the national average. About 17% of workers are remote. As in most parts of the country, driving alone is the dominant commute mode at 80%.
Overall, ZIP code 55020 in Elko New Market, MN is characterized as upper-middle-income, well-educated, a relatively young community, and predominantly owner-occupied. With 4,391 residents, a median household income of $127,159, and a median home value of $452,700, it offers a clear picture of life in this part of Minnesota.