ZIP Code 55416 is associated with the city of Minneapolis in Minnesota (Hennepin County) in the U.S. The median household income is at $85,108, while an estimated 3% of the population in this ZIP is living below the poverty line. The median age in 55416 is estimated to at 35.4 years, and about 19.1% of residents are aged 62 years and older. About 98.0% of residents in this Minnesota region have a high school degree or higher, while the per capita income is estimated at $63,855. The current population estimate is 33,036.
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The median household income in ZIP Code 55416 is $85,108, while the region's mean household income is $124,885. Breaking income down further, per capita income in the region is $63,855. The per capita income in ZIP Code 55416 of $63,855 is approximately 69.71% more than the per capita income in Minnesota overall of $37,625. An estimated 3.2% of the population is living below the poverty line in this region. This rate is approximately 66.32% lower than the overall poverty rate in the U.S. of 9.5%. Regarding household income, approximately 17.3% of the population in 55416 earn $100,000 to $149,999 per year, while an estimated 15.7% earn $200,000 or more per year, and 2.7% of 55416 residents earn $10,000 to $14,999 per year.
| Household Income | Percent |
|---|---|
| Less than $10,000 per year | 2.9% |
| $10,000 to $14,999 per year | 2.7% |
| $15,000 to $24,999 per year | 4.9% |
| $25,000 to $34,999 per year | 6.2% |
| $35,000 to $49,999 per year | 11.6% |
| $50,000 to $74,999 per year | 15.5% |
| $75,000 to $99,999 per year | 13.4% |
| $100,000 to $149,999 per year | 17.3% |
| $150,000 to $199,999 per year | 9.9% |
| $200,000 or more per year | 15.7% |
In ZIP Code 55416, 98.0% of the population graduated high school, while 70.2% have a bachelor's degree or higher. In this region, 0.7% achieved an education level less than 9th grade, while 28.7% hold a graduate or professional degree. Approximately 8.8% in this Hennepin County region reached the highest level of high school graduate (including equivalency).
| Education Level | Percent |
|---|---|
| Less than 9th grade | 0.7% |
| 9th to 12th grade, no diploma | 1.3% |
| High school graduate (includes equivalency) | 8.8% |
| Some college, no degree | 12.6% |
| Associate's degree | 6.3% |
| Bachelor's degree | 41.5% |
| Graduate or professional degree | 28.7% |
Looking at race in the population that makes up ZIP Code 55416, 97.4% is one race, while 2.6% are two or more races. Approximately 3.8% of 55416 residents are hispanic or Latino (of any race). The most common race in 55416 (race alone or in combination with one or more other races), is White (88.7%), followed by Black or African American (6.0%) .
| Industry | Percent |
|---|---|
| White | 88.7% |
| Black or African American | 6.0% |
| American Indian and Alaska Native | 0.6% |
| Asian | 5.0% |
| Native Hawaiian and Other Pacific Islander | 0.2% |
| Some other race | 2.1% |
Residents of ZIP Code 55416 are younger than average. The median age of 35.4 years in ZIP Code 55416 is approximately 7.09% lower than the overall median age in the U.S. of 38.1 years. About 84.1% of residents are aged 18 years and older, and 19.1% of residents are 62 years and over. Approximately 26.5% of the population in 55416 falls in the age group 25 to 34 years, while an estimated 12.1% are aged 35 to 44 years. On the low end of the scale, 3.0% of 55416 residents are aged 85 years and over.
| Age Range | Percent |
|---|---|
| Under 5 years | 4.8% |
| 5 to 9 years | 4.3% |
| 10 to 14 years | 4.3% |
| 15 to 19 years | 3.2% |
| 20 to 24 years | 6.2% |
| 25 to 34 years | 26.5% |
| 35 to 44 years | 12.1% |
| 45 to 54 years | 11.3% |
| 55 to 59 years | 6.0% |
| 60 to 64 years | 5.9% |
| 65 to 74 years | 8.5% |
| 75 to 84 years | 3.8% |
| 85 years and over | 3.0% |
| Health Issue | Percent of adults* |
|---|
One of the top preventative health measures in ZIP Code 55416 is current access to health insurance, as an estimated 95.5% of adults 18 and older take part in this preventive measure. Additionally, % of those 18 and above in 55416 list , as a preventive measure.
| Preventive Measure | Percent of adults* |
|---|---|
| Current access to health insurance | 95.5% |
| Risk Behavior | Percent of adults* |
|---|
The median home value in ZIP Code 55416 in January 2025 comes in at $468,556. The January 2025 value is approximately 2% higher than the $460,506 median value in August 2024, and 2% higher than the $459,590 median value in February 2024. Regarding the age of homes in ZIP Code 55416, an estimated 13.8% of homes were built between 1950 and 1959. Additionally, 13.3% of homes in the region were built in 1939 or earlier, while an estimated 3.0% of homes were built in 2014 or later in this Hennepin County region.
| Month | Home value |
|---|---|
| Jan 2025 | $468,556 |
| Dec 2024 | $466,553 |
| Nov 2024 | $464,274 |
| Oct 2024 | $462,405 |
| Sep 2024 | $460,922 |
| Aug 2024 | $460,506 |
| Jul 2024 | $461,120 |
| Jun 2024 | $462,346 |
| May 2024 | $463,323 |
| Apr 2024 | $462,523 |
| Mar 2024 | $460,927 |
| Feb 2024 | $459,590 |
| Year Home Built | Percent |
|---|---|
| Built in 2014 or later | 3.0% |
| Built between 2010 and 2013 | 4.6% |
| Built between 2000 and 2009 | 11.8% |
| Built between 1990 and 1999 | 5.7% |
| Built between 1980 and 1989 | 12.2% |
| Built between 1970 and 1979 | 11.2% |
| Built between 1960 and 1969 | 11.3% |
| Built between 1950 and 1959 | 13.8% |
| Built between 1940 and 1949 | 13.1% |
| Built in 1939 or earlier | 13.3% |
In 55416, 76.4% of the population is in the labor force. Recent estimates place 6.0% as working from home, while the total labor force in the region has a mean travel to time to work of 21.8 minutes. Approximately 24.7% of the employed population 16 years and over in 55416 work in educational services, and health care and social assistance, while an estimated 19.7% work in professional, scientific, management, and administrative. On the lower end of the scale, just 0.4% of 55416 workers 16 years and over work in agriculture, forestry, fishing and hunting, and mining.
| Industry | Percent |
|---|---|
| Agriculture, forestry, fishing and hunting, and mining | 0.4% |
| Construction | 2.6% |
| Manufacturing | 9.6% |
| Wholesale trade | 2.5% |
| Retail trade | 9.8% |
| Transportation and warehousing, and utilities | 2.6% |
| Information | 2.0% |
| Finance and insurance, and real estate and rental and leasing | 12.8% |
| Professional, scientific, management, and administrative | 19.7% |
| Educational services, and health care and social assistance | 24.7% |
| Arts, entertainment, and recreation, and accommodation and food services | 7.3% |
| Other services, except public administration | 3.6% |
| Public administration | 2.5% |
In ZIP Code 55416, 88.5% of the population lists "English only" as the language spoken in home, while 3.0% of lists Spanish. Additionally, Asian and Pacific Islander languages are spoken in 4.7% of homes, and other Indo-European languages are spoken in 1.3% of homes. Lastly, 2.5% 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 | 88.5% |
| Spanish | 3.0% |
| Other Indo-European languages | 4.7% |
| Asian and Pacific Islander languages | 1.3% |
| Other languages | 2.5% |
Regarding solar power potential, ZIP Code 55416 has an average daily solar radiation level of 4.88 kWh/m2/day. This is approximately 18.45% greater than an area in the U.S. with historically low solar radiation levels (WA), and about 25.95% less than an area in the U.S. with historically high solar radiation levels (AZ).
| Region | Residential | Commercial | Industrial |
|---|---|---|---|
| ZIP Code 55416 | 11.48¢/kWh | 8.73¢/kWh | 6.83¢/kWh |
| Minnesota | 17.1¢/kWh | 13.19¢/kWh | 9.79¢/kWh |
| United States | 18.07¢/kWh | 14.06¢/kWh | 9.02¢/kWh |
| Month | ZIP Code 55416 | Low (WA) | High (AZ) |
|---|---|---|---|
| Jan | 3.6 | 1.9 | 5.84 |
| Feb | 4.36 | 3 | 6.31 |
| Mar | 5.22 | 3.65 | 7.02 |
| Apr | 5.44 | 5.13 | 7.3 |
| May | 5.66 | 5.17 | 7.13 |
| Jun | 5.95 | 5.72 | 6.95 |
| Jul | 6.33 | 6.22 | 6.51 |
| Aug | 5.99 | 6.08 | 6.65 |
| Sep | 5.56 | 5.15 | 7.02 |
| Oct | 4.25 | 3.32 | 6.92 |
| Nov | 3.42 | 2.33 | 5.99 |
| Dec | 2.82 | 1.78 | 5.46 |