| ZIP Code | 55024 |
|---|---|
| City | Farmington |
| State | Minnesota (MN) |
| County | Dakota County |
| Area Code | 651/952 |
| Elevation | 900 ft |
| Latitude | 44.628726 |
|---|---|
| Longitude | -93.135594 |
| Timezone | Chicago (DST) |
| FIPS | 27037 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 36.2 yrs ↑ 5% since 2019 |
|---|---|
| Avg Household Size | 2.91 |
| Below Poverty | 3.0% ▼ 70% below avg |
| College Grads | 52.5% ▲ 36% above avg |
| Unemployment | 3.1% ▼ 37% below avg |
| No HS Diploma | 141 (0.6%) |
| HS Graduate | 4,897 (21.5%) |
| Some College | 2,518 (11.1%) |
| Associates | 3,248 (14.3%) |
| Bachelors | 3,460 (15.2%) |
| Graduate Degree | 8,488 (37.3%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $123,582 ▲ 62% above avg ↑ 26% since 2019 |
|---|---|
| Median Home Value | $350,500 ▲ 26% above avg ↑ 36% since 2019 |
| Home/Income Ratio | 2.8x (nat avg ~3.5x) |
| Median Rent | $1,427/mo ↑ 27% since 2019 |
| Total Units | 12,840 |
| Vacant Units | 301 |
| Avg HH Size | 2.91 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 12,840 |
|---|---|
| Vacant | 301 |
| Owner Occupied | 88.9% |
| Renter Occupied | 11.1% |
| Avg HH Size | 2.91 |
ZIP code 55024 is located in Farmington, Minnesota, within Dakota County. With a population of 36,681, this is a highly populated ZIP code with a relatively young community — the median age is 36.2 years. Economically, 55024 is a upper-middle-income ZIP code: the median household income of $123,582 is significantly above the national average.
Real estate in ZIP code 55024 represents a mid-range housing market. The median home value of $350,500 is above the national average. Renters can expect to pay around $1,427 per month in median rent. Homeownership is strong here — 88.9% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 36% since 2019.
The population of 55024 is primarily White (83.87%). Residents are well-educated — 52.5% hold a bachelor's degree or higher, which is above the national average. Poverty affects a relatively small share of residents at 3.0%. Household income has grown by 26% since 2019.
The unemployment rate in 55024 stands at 3.1%, which is below the national average. About 18% of workers are remote. As in most parts of the country, driving alone is the dominant commute mode at 75%.
Overall, ZIP code 55024 in Farmington, MN is characterized as upper-middle-income, well-educated, a relatively young community, and predominantly owner-occupied. With 36,681 residents, a median household income of $123,582, and a median home value of $350,500, it offers a clear picture of life in this part of Minnesota.