Finland, MN 55603 ZIP Code Profile

Related Place Profiles:
Finland, MN | Murphy City, MN
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ZIP Code 55603: Basic Data & USPS Preferred City Name

Preferred Name, USPS
Finland, MN 55603

Not Acceptable, USPS
Murphy City, MN 55603

  • ZIP Code Type: STANDARD
  • County: Lake County
  • Centroid: Latitude 47.469, Longitude -91.28
  • Time Zone: Central Time Zone (UTC -6 hours)
  • Observes DST: Yes
  • Businesses Addresses: 26
  • PO Box Addresses: 109
  • Residential Addresses: 155
    • Multi-Family Addresses: 0
    • Single Family Addresses: 155

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

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Finland, MN 55603 Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 545 (100%)
Population in Households 538 (98.7%)
Population in Families 414 (76.0%)
Population in Group Quarters1 7 ( 1.3%)
Population Density 1
Diversity Index2 8
 
 

INCOME

Median Household Income $64,152
Average Household Income $79,537
% of Income for Mortgage4 14%
Per Capita Income $37,523
Wealth Index5 95
 

HOUSING

Total HU (Housing Units) 498 (100%)
Owner Occupied HU 236 (47.4%)
Renter Occupied HU 21 ( 4.2%)
Vacant Housing Units 241 (48.4%)
Median Home Value $218,750
Average Home Value $264,831
Housing Affordability Index3 193
 

HOUSEHOLDS

Total Households 257
Average Household Size 2.09
Family Households 165
Average Family Size 3
NOTES
  1. 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.
  2. 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.
  3. 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.
  4. 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).
  5. 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.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population 0.29% 0.26%
Households 0.43% 0.23%
Families 0.24% 0.24%
Median Household Income   2.54%
Per Capita Income   2.15%
Owner Occupied HU   0.25%

Finland, MN 55603 - Peer Comparisons by Rank and Percentile

The table below compares 55603 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.

Variable Description Rank Percentile
Total Population # 695 21st
Population Density # 870 1st
Median Household Income # 365 59th
Housing Affordability Index # 427 49th
Per Capita Income # 190 78th
Diversity Index # 764 13th

Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.


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