55616 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Lake County
Centroid: Latitude 47.03, Longitude -91.671
Time Zone: Central Time Zone (UTC -6 hours)
Observes DST: Yes

ZIP Code 55616 has segments in 2 Counties (Lake, Saint Louis).

Businesses Addresses: 261
PO Box Addresses: 155
Residential Addresses: 3,271

Multi-Family Addresses: 208
Single Family Addresses: 3,063

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

Two Harbors, MN 55616 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	7,455 (100%)
Population in Households	7,321 (98.2%)
Population in Families	5,728 (76.8%)
Population in Group Quarters¹	134 ( 1.8%)
Population Density	15
Diversity Index²	10


INCOME
Median Household Income	$61,448
Average Household Income	$76,217
% of Income for Mortgage⁴	13%
Per Capita Income	$33,251
Wealth Index⁵	83

HOUSING
Total HU (Housing Units)	4,651 (100%)
Owner Occupied HU	2,589 (55.7%)
Renter Occupied HU	661 (14.2%)
Vacant Housing Units	1,401 (30.1%)
Median Home Value	$194,271
Average Home Value	$254,799
Housing Affordability Index³	191

HOUSEHOLDS
Total Households	3,250
Average Household Size	2.25
Family Households	2,054
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.

Two Harbors, MN 55616 - Peer Comparisons by Rank and Percentile

The table below compares 55616 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	0.37%	0.22%
Households	0.42%	0.26%
Families	0.29%	0.16%
Median Household Income		1.46%
Per Capita Income		1.91%
Owner Occupied HU		0.33%

Variable Description	Rank	Percentile
Total Population	# 203	77th
Population Density	# 586	33rd
Median Household Income	# 453	49th
Housing Affordability Index	# 417	47th
Per Capita Income	# 366	58th
Diversity Index	# 671	23rd

Two Harbors, MN 55616 ZIP Code Profile

ZIP Code 55616: Basic Data & USPS Preferred City Name

Two Harbors, MN 55616 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Two Harbors, MN 55616 - Peer Comparisons by Rank and Percentile

Popular Places Near ZIP Code 55616

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