55616 ZIP Code Profile, Map, Data & Demographics

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: 259
PO Box Addresses: 154
Residential Addresses: 3,310

Multi-Family Addresses: 211
Single Family Addresses: 3,099

The ZIP Code maps and database are updated 4 times per year.
Database updated: October 1, 2022, Maps updated: August 12, 2022.

Two Harbors, MN 55616 Data & Demographics (As of July 1, 2022)

POPULATION
Total Population	6,938 (100%)
Population in Households	6,800 (98.0%)
Population in Families	5,304 (76.4%)
Population in Group Quarters¹	138 ( 2.0%)
Population Density	14
Diversity Index²	13


INCOME
Median Household Income	$67,926
Average Household Income	$85,215
% of Income for Mortgage⁴	20%
Per Capita Income	$37,456
Wealth Index⁵	76

HOUSING
Total HU (Housing Units)	4,122 (100%)
Owner Occupied HU	2,437 (59.1%)
Renter Occupied HU	620 (15.0%)
Vacant Housing Units	1,065 (25.8%)
Median Home Value	$259,623
Average Home Value	$324,508
Housing Affordability Index³	128

HOUSEHOLDS
Total Households	3,057
Average Household Size	2.22
Family Households	1,921
Average Family Size	3.00

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 878 ZIP Codes in Minnesota by rank and percentile using July 1, 2022 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	2020-2022	2022-2027
Population	-0.98%	-0.25%
Households	-0.38%	-0.14%
Families		-0.13%
Median Household Income		2.66%
Per Capita Income		2.92%
Owner Occupied HU		0.06%

Variable Description	Rank	Percentile
Total Population	# 210	76th
Population Density	# 599	32nd
Median Household Income	# 527	40th
Housing Affordability Index	# 218	25th
Per Capita Income	# 421	52nd
Diversity Index	# 704	20th

55616 ZIP Code Profile, Map, Data & Demographics

ZIP Code 55616: Basic Data & USPS Preferred City Name

Two Harbors, MN 55616 Data & Demographics (As of July 1, 2022)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

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

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