55418 ZIP Code Profile, Map, Data & Demographics

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: 931
PO Box Addresses: 275
Residential Addresses: 13,908

Multi-Family Addresses: 2,569
Single Family Addresses: 11,339

The ZIP Code maps and database are updated 4 times per year.
Database updated: October 1, 2021, Maps updated: May 5, 2021.

Minneapolis, MN 55418 Data & Demographics (As of July 1, 2021)

POPULATION
Total Population	32,365 (100%)
Population in Households	32,127 (99.3%)
Population in Families	21,834 (67.5%)
Population in Group Quarters¹	238 ( 0.7%)
Population Density	4,683
Diversity Index²	59


INCOME
Median Household Income	$76,485
Average Household Income	$91,451
% of Income for Mortgage⁴	15%
Per Capita Income	$38,911
Wealth Index⁵	90

HOUSING
Total HU (Housing Units)	14,705 (100%)
Owner Occupied HU	9,236 (62.8%)
Renter Occupied HU	4,530 (30.8%)
Vacant Housing Units	939 ( 6.4%)
Median Home Value	$271,116
Average Home Value	$298,982
Housing Affordability Index³	146

HOUSEHOLDS
Total Households	13,766
Average Household Size	2.33
Family Households	7,089
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, 2021 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	2010-2021	2021-2026
Population	0.52%	0.63%
Households	0.36%	0.45%
Families	0.22%	0.48%
Median Household Income		1.71%
Per Capita Income		2.22%
Owner Occupied HU		0.81%

Variable Description	Rank	Percentile
Total Population	# 38	96th
Population Density	# 30	97th
Median Household Income	# 218	75th
Housing Affordability Index	# 170	19th
Per Capita Income	# 166	81st
Diversity Index	# 45	95th

55418 ZIP Code Profile, Map, Data & Demographics

ZIP Code 55418: Basic Data & USPS Preferred City Name

Minneapolis, MN 55418 Data & Demographics (As of July 1, 2021)

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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