ZIP Code 55408 is associated with the city of Minneapolis in Minnesota (Hennepin County) in the U.S. Median househould income in this region is $59,917, while about 10% of the population lives below the poverty line. The median age in 55408 is estimated to at 30.1 years, and about 9.5% of residents are aged 62 years and older. About 86.8% of residents in this Minnesota region have a high school degree or higher, while the per capita income is estimated at $41,519. The current population estimate is 31,731.
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The median household income in ZIP Code 55408 is $59,917, while the region's mean household income is $82,728. Breaking income down further, per capita income in the region is $41,519. The per capita income in ZIP Code 55408 of $41,519 is approximately 10.35% more than the per capita income in Minnesota overall of $37,625. An estimated 10.0% of the population is living below the poverty line in this region. This rate is approximately5.26% higher than the overall poverty rate in the U.S. of 9.5%. Regarding household income, approximately 21.5% of the population in 55408 earn $50,000 to $74,999 per year, while an estimated 13.3% earn $100,000 to $149,999 per year, and 2.7% of 55408 residents earn $10,000 to $14,999 per year.
| Household Income | Percent |
|---|---|
| Less than $10,000 per year | 6.6% |
| $10,000 to $14,999 per year | 2.7% |
| $15,000 to $24,999 per year | 8.4% |
| $25,000 to $34,999 per year | 9.6% |
| $35,000 to $49,999 per year | 12.2% |
| $50,000 to $74,999 per year | 21.5% |
| $75,000 to $99,999 per year | 12.5% |
| $100,000 to $149,999 per year | 13.3% |
| $150,000 to $199,999 per year | 6.6% |
| $200,000 or more per year | 6.4% |
In ZIP Code 55408, 86.8% of the population graduated high school, while 53.1% have a bachelor's degree or higher. In this region, 7.3% achieved an education level less than 9th grade, while 19.7% hold a graduate or professional degree. Approximately 12.0% in this Hennepin County region reached the highest level of high school graduate (including equivalency).
| Education Level | Percent |
|---|---|
| Less than 9th grade | 7.3% |
| 9th to 12th grade, no diploma | 5.8% |
| High school graduate (includes equivalency) | 12.0% |
| Some college, no degree | 14.3% |
| Associate's degree | 7.5% |
| Bachelor's degree | 33.4% |
| Graduate or professional degree | 19.7% |
Looking at race in the population that makes up ZIP Code 55408, 94.5% is one race, while 5.5% are two or more races. Approximately 15.9% of 55408 residents are hispanic or Latino (of any race). The most common race in 55408 (race alone or in combination with one or more other races), is White (70.0%), followed by Black or African American (19.5%) .
| Industry | Percent |
|---|---|
| White | 70.0% |
| Black or African American | 19.5% |
| American Indian and Alaska Native | 1.4% |
| Asian | 5.3% |
| Native Hawaiian and Other Pacific Islander | 0.6% |
| Some other race | 9.0% |
Residents of ZIP Code 55408 are younger than average. The median age of 30.1 years in ZIP Code 55408 is approximately 21% lower than the overall median age in the U.S. of 38.1 years. About 85.6% of residents are aged 18 years and older, and 9.5% of residents are 62 years and over. Approximately 32.0% of the population in 55408 falls in the age group 25 to 34 years, while an estimated 14.7% are aged 20 to 24 years. On the low end of the scale, 0.4% of 55408 residents are aged 85 years and over.
| Age Range | Percent |
|---|---|
| Under 5 years | 4.2% |
| 5 to 9 years | 4.7% |
| 10 to 14 years | 3.9% |
| 15 to 19 years | 2.7% |
| 20 to 24 years | 14.7% |
| 25 to 34 years | 32.0% |
| 35 to 44 years | 13.1% |
| 45 to 54 years | 9.7% |
| 55 to 59 years | 3.9% |
| 60 to 64 years | 3.8% |
| 65 to 74 years | 4.8% |
| 75 to 84 years | 2.1% |
| 85 years and over | 0.4% |
| Health Issue | Percent of adults* |
|---|
One of the top preventative health measures in ZIP Code 55408 is current access to health insurance, as an estimated 89.9% of adults 18 and older take part in this preventive measure. Additionally, % of those 18 and above in 55408 list , as a preventive measure.
| Preventive Measure | Percent of adults* |
|---|---|
| Current access to health insurance | 89.9% |
| Risk Behavior | Percent of adults* |
|---|
The median home value in ZIP Code 55408 in January 2025 comes in at $365,507. The January 2025 value is approximately 1% higher than the $363,424 median value in August 2024, and -0% lower than the $366,732 median value in February 2024. Regarding the age of homes in ZIP Code 55408, an estimated 45.2% of homes were built in 1939 or earlier. Additionally, 11.4% of homes in the region were built between 1970 and 1979, while an estimated 1.9% of homes were built between 1990 and 1999 in this Hennepin County region.
| Month | Home value |
|---|---|
| Jan 2025 | $365,507 |
| Dec 2024 | $364,166 |
| Nov 2024 | $362,951 |
| Oct 2024 | $362,503 |
| Sep 2024 | $362,636 |
| Aug 2024 | $363,424 |
| Jul 2024 | $364,848 |
| Jun 2024 | $366,827 |
| May 2024 | $368,772 |
| Apr 2024 | $369,399 |
| Mar 2024 | $368,353 |
| Feb 2024 | $366,732 |
| Year Home Built | Percent |
|---|---|
| Built in 2014 or later | 3.3% |
| Built between 2010 and 2013 | 4.4% |
| Built between 2000 and 2009 | 5.4% |
| Built between 1990 and 1999 | 1.9% |
| Built between 1980 and 1989 | 7.3% |
| Built between 1970 and 1979 | 11.4% |
| Built between 1960 and 1969 | 10.5% |
| Built between 1950 and 1959 | 7.5% |
| Built between 1940 and 1949 | 3.2% |
| Built in 1939 or earlier | 45.2% |
In 55408, 82.5% of the population is in the labor force. Recent estimates place 6.4% as working from home, while the total labor force in the region has a mean travel to time to work of 24.2 minutes. Approximately 24.5% of the employed population 16 years and over in 55408 work in educational services, and health care and social assistance, while an estimated 17.3% work in professional, scientific, management, and administrative. On the lower end of the scale, just 0.8% of 55408 workers 16 years and over work in agriculture, forestry, fishing and hunting, and mining.
| Industry | Percent |
|---|---|
| Agriculture, forestry, fishing and hunting, and mining | 0.8% |
| Construction | 2.2% |
| Manufacturing | 8.5% |
| Wholesale trade | 2.5% |
| Retail trade | 10.8% |
| Transportation and warehousing, and utilities | 4.3% |
| Information | 2.4% |
| Finance and insurance, and real estate and rental and leasing | 7.2% |
| Professional, scientific, management, and administrative | 17.3% |
| Educational services, and health care and social assistance | 24.5% |
| Arts, entertainment, and recreation, and accommodation and food services | 11.8% |
| Other services, except public administration | 5.8% |
| Public administration | 1.9% |
In ZIP Code 55408, 73.6% of the population lists "English only" as the language spoken in home, while 13.1% of lists Spanish. Additionally, Asian and Pacific Islander languages are spoken in 3.2% of homes, and other Indo-European languages are spoken in 1.5% of homes. Lastly, 8.6% of homes list "other languages" as spoken in the home. All percentages referenced are for the population 5 years and older in this Hennepin County region.
| Language Spoken | Percent |
|---|---|
| English only | 73.6% |
| Spanish | 13.1% |
| Other Indo-European languages | 3.2% |
| Asian and Pacific Islander languages | 1.5% |
| Other languages | 8.6% |
| Region | Residential | Commercial | Industrial |
|---|---|---|---|
| ZIP Code 55408 | 11.48¢/kWh | 8.73¢/kWh | 6.83¢/kWh |
| Minnesota | 15.08¢/kWh | 11.18¢/kWh | 9.29¢/kWh |
| United States | 18.83¢/kWh | 13.92¢/kWh | 8.58¢/kWh |
| Month | ZIP Code 55408 | Low (WA) | High (AZ) |
|---|---|---|---|
| Jan | 3.62 | 5.84 | |
| Feb | 4.38 | 6.31 | |
| Mar | 5.38 | 7.02 | |
| Apr | 5.46 | 7.3 | |
| May | 5.24 | 7.13 | |
| Jun | 5.89 | 6.95 | |
| Jul | 6.31 | 6.51 | |
| Aug | 6.02 | 6.65 | |
| Sep | 5.38 | 7.02 | |
| Oct | 4.22 | 6.92 | |
| Nov | 3.43 | 5.99 | |
| Dec | 2.83 | 5.46 |