US > Minnesota > Big Stone County > Graceville, MN 56240

56240 ZIP Code Profile, Map, Data & Demographics

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Graceville, MN
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ZIP Code 56240: Basic Data & USPS Preferred City Name

Preferred Name, USPS
Graceville, MN 56240

  • ZIP Code Type: STANDARD
  • County: Big Stone County
  • Centroid: Latitude 45.569, Longitude -96.437
  • Time Zone: Central Time Zone (UTC -6 hours)
  • Observes DST: Yes

ZIP Code 56240 has segments in 2 Counties (Big Stone, Traverse).

  • Businesses Addresses: 38
  • PO Box Addresses: 119
  • Residential Addresses: 278
    • Multi-Family Addresses: 49
    • Single Family Addresses: 229

The ZIP Code maps and database are updated 4 times per year.
Database updated: April 1, 2025, Maps updated: May 1, 2024.

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Graceville, MN 56240 Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 880 (100%)
Population in Households 847 (96.2%)
Population in Families 691 (78.5%)
Population in Group Quarters1 33 ( 3.7%)
Population Density 11
Diversity Index2 10
 
 

INCOME

Median Household Income $62,221
Average Household Income $84,909
% of Income for Mortgage4 14%
Per Capita Income $33,344
Wealth Index5 71
Socioeconomic Status Index6 Moderate (57.7)
 

HOUSING

Total HU (Housing Units) 403 (100%)
Owner Occupied HU 276 (68.5%)
Renter Occupied HU 69 (17.1%)
Vacant Housing Units 58 (14.4%)
Median Home Value $143,519
Average Home Value $226,540
Housing Affordability Index3 171
 

HOUSEHOLDS

Total Households 345
Average Household Size 2.46
Family Households 212
Average Family Size 3.00
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.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population 1.59% 0.25%
Households 0.14% 0.12%
Families   -0.19%
Median Household Income   4.78%
Per Capita Income   2.75%
Owner Occupied HU   -0.59%

Graceville, MN 56240 - Peer Comparisons by Rank and Percentile

The table below compares 56240 to the other 882 ZIP Codes in Minnesota by rank and percentile using July 1, 2024 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 # 596 33rd
Population Density # 665 25th
Median Household Income # 756 14th
Housing Affordability Index # 849 96th
Per Capita Income # 779 12th
Diversity Index # 831 6th

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


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