55418 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Hennepin County
Centroid: Latitude 45.022, Longitude -93.245
Time Zone: Central Time Zone (UTC -6 hours)
Observes DST: Yes

ZIP Code 55418 has segments in 2 Counties (Hennepin, Ramsey).

Businesses Addresses: 944
PO Box Addresses: 295
Residential Addresses: 13,870

Multi-Family Addresses: 2,565
Single Family Addresses: 11,305

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

Minneapolis, MN 55418 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	32,323 (100%)
Population in Households	32,085 (99.3%)
Population in Families	21,826 (67.5%)
Population in Group Quarters¹	238 ( 0.7%)
Population Density	4,633
Diversity Index²	58


INCOME
Median Household Income	$69,106
Average Household Income	$86,996
% of Income for Mortgage⁴	15%
Per Capita Income	$36,936
Wealth Index⁵	88

HOUSING
Total HU (Housing Units)	14,687 (100%)
Owner Occupied HU	8,899 (60.6%)
Renter Occupied HU	4,820 (32.8%)
Vacant Housing Units	968 ( 6.6%)
Median Home Value	$239,878
Average Home Value	$270,584
Housing Affordability Index³	148

HOUSEHOLDS
Total Households	13,719
Average Household Size	2.34
Family Households	7,098
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.

Minneapolis, MN 55418 - Peer Comparisons by Rank and Percentile

The table below compares 55418 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	0.52%	0.5%
Households	0.34%	0.35%
Families	0.22%	0.38%
Median Household Income		1.74%
Per Capita Income		1.8%
Owner Occupied HU		0.48%

Variable Description	Rank	Percentile
Total Population	# 38	96th
Population Density	# 31	97th
Median Household Income	# 266	70th
Housing Affordability Index	# 137	16th
Per Capita Income	# 205	77th
Diversity Index	# 48	95th

Minneapolis, MN 55418 ZIP Code Profile

ZIP Code 55418: Basic Data & USPS Preferred City Name

Minneapolis, MN 55418 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Minneapolis, MN 55418 - Peer Comparisons by Rank and Percentile

Popular Places Near ZIP Code 55418

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