55363 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Wright County
Centroid: Latitude 45.066, Longitude -93.913
Time Zone: Central Time Zone (UTC -6 hours)
Observes DST: Yes

ZIP Code 55363 has segments in 2 Counties (Carver, Wright).

Businesses Addresses: 66
PO Box Addresses: 133
Residential Addresses: 1,818

Multi-Family Addresses: 185
Single Family Addresses: 1,633

The ZIP Code maps and database are updated 4 times per year.
Database updated: July 1, 2020, Maps updated: May 1, 2020.

Montrose, MN 55363 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	5,074 (100%)
Population in Households	5,064 (99.8%)
Population in Families	4,295 (84.6%)
Population in Group Quarters¹	10 ( 0.2%)
Population Density	182
Diversity Index²	17


INCOME
Median Household Income	$79,667
Average Household Income	$95,911
% of Income for Mortgage⁴	11%
Per Capita Income	$34,499
Wealth Index⁵	94

HOUSING
Total HU (Housing Units)	1,932 (100%)
Owner Occupied HU	1,501 (77.7%)
Renter Occupied HU	324 (16.8%)
Vacant Housing Units	107 ( 5.5%)
Median Home Value	$204,447
Average Home Value	$258,161
Housing Affordability Index³	235

HOUSEHOLDS
Total Households	1,825
Average Household Size	2.77
Family Households	1,326
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Montrose, MN 55363 - Peer Comparisons by Rank and Percentile

The table below compares 55363 to the other 879 ZIP Codes in Minnesota by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	1.29%	1.64%
Households	1.26%	1.59%
Families	1.15%	1.55%
Median Household Income		1.02%
Per Capita Income		1.95%
Owner Occupied HU		1.85%

Variable Description	Rank	Percentile
Total Population	# 253	71st
Population Density	# 207	77th
Median Household Income	# 150	83rd
Housing Affordability Index	# 624	71st
Per Capita Income	# 294	67th
Diversity Index	# 376	57th

Montrose, MN 55363 ZIP Code Profile

ZIP Code 55363: Basic Data & USPS Preferred City Name

Montrose, MN 55363 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Montrose, MN 55363 - Peer Comparisons by Rank and Percentile

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