| ZIP Code | 55416 |
|---|---|
| City | Minneapolis |
| State | Minnesota (MN) |
| County | Hennepin County |
| Area Code | 612 |
| Elevation | 889 ft |
| Latitude | 44.949373 |
|---|---|
| Longitude | -93.340994 |
| Timezone | Chicago (DST) |
| FIPS | 27053 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 35.8 yrs |
|---|---|
| Avg Household Size | 1.94 |
| Below Poverty | 5.4% ▼ 46% below avg |
| College Grads | 79.4% ▲ 105% above avg |
| Unemployment | 2.9% ▼ 41% below avg |
| No HS Diploma | 252 (1%) |
| HS Graduate | 1,745 (6.9%) |
| Some College | 964 (3.8%) |
| Associates | 2,226 (8.8%) |
| Bachelors | 1,665 (6.6%) |
| Graduate Degree | 18,358 (72.8%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $105,926 ▲ 39% above avg ↑ 24% since 2019 |
|---|---|
| Median Home Value | $457,300 ▲ 64% above avg ↑ 29% since 2019 |
| Home/Income Ratio | 4.3x (nat avg ~3.5x) |
| Median Rent | $1,701/mo ↑ 28% since 2019 |
| Total Units | 19,197 |
| Vacant Units | 1,381 |
| Avg HH Size | 1.94 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 19,197 |
|---|---|
| Vacant | 1,381 |
| Owner Occupied | 49.8% |
| Renter Occupied | 50.3% |
| Avg HH Size | 1.94 |
ZIP code 55416 is located in Minneapolis, Minnesota, within Hennepin County. With a population of 34,905, this is a moderately populated ZIP code with a relatively young community — the median age is 35.8 years. Economically, 55416 is a upper-middle-income ZIP code: the median household income of $105,926 is above the national average.
Real estate in ZIP code 55416 represents a premium housing market. The median home value of $457,300 is significantly above the national average. Renters can expect to pay around $1,701 per month in median rent. The area has a relatively balanced mix of owners (49.8%) and renters (50.3%). Median home values have increased by 29% since 2019.
The population of 55416 is primarily White (78.82%). Residents are highly educated — 79.4% hold a bachelor's degree or higher, which is more than double the national average. Poverty affects a relatively small share of residents at 5.4%. Household income has grown by 24% since 2019.
The unemployment rate in 55416 stands at 2.9%, which is below the national average. A notably high share of workers — 31% — work from home, reflecting the professional makeup of the area. As in most parts of the country, driving alone is the dominant commute mode at 58%.
Overall, ZIP code 55416 in Minneapolis, MN is characterized as upper-middle-income, highly educated, and a relatively young community. With 34,905 residents, a median household income of $105,926, and a median home value of $457,300, it offers a clear picture of life in this part of Minnesota.