56373 ZIP Code Profile, Map, Data & Demographics

ZIP Code Type: STANDARD
County: Morrison County
Centroid: Latitude 45.832, Longitude -94.29
Time Zone: Central Time Zone (UTC -6 hours)
Observes DST: Yes

ZIP Code 56373 has segments in 2 Counties (Benton, Morrison).

Businesses Addresses: 44
PO Box Addresses: 85
Residential Addresses: 1,175

Multi-Family Addresses: 64
Single Family Addresses: 1,111

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

Royalton, MN 56373 Data & Demographics (As of July 1, 2021)

POPULATION
Total Population	3,302 (100%)
Population in Households	3,286 (99.5%)
Population in Families	2,825 (85.6%)
Population in Group Quarters¹	16 ( 0.5%)
Population Density	33
Diversity Index²	9


INCOME
Median Household Income	$65,027
Average Household Income	$79,045
% of Income for Mortgage⁴	14%
Per Capita Income	$28,325
Wealth Index⁵	75

HOUSING
Total HU (Housing Units)	1,252 (100%)
Owner Occupied HU	983 (78.5%)
Renter Occupied HU	200 (16.0%)
Vacant Housing Units	69 ( 5.5%)
Median Home Value	$222,820
Average Home Value	$261,317
Housing Affordability Index³	179

HOUSEHOLDS
Total Households	1,183
Average Household Size	2.78
Family Households	887
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.

Royalton, MN 56373 - Peer Comparisons by Rank and Percentile

The table below compares 56373 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	0.51%	0.47%
Households	0.5%	0.49%
Families	0.39%	0.4%
Median Household Income		1.07%
Per Capita Income		1.52%
Owner Occupied HU		0.82%

Variable Description	Rank	Percentile
Total Population	# 327	63rd
Population Density	# 394	55th
Median Household Income	# 422	52nd
Housing Affordability Index	# 422	48th
Per Capita Income	# 742	16th
Diversity Index	# 745	15th

56373 ZIP Code Profile, Map, Data & Demographics

ZIP Code 56373: Basic Data & USPS Preferred City Name

Royalton, MN 56373 Data & Demographics (As of July 1, 2021)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Royalton, MN 56373 - Peer Comparisons by Rank and Percentile

Popular Places Near ZIP Code 56373

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