PlainZIP

Elko New Market, MN · standard

ZIP Code 55020

Scott County, Minnesota - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.

3,717
58/sq mi
$131,071
Median income
$455,500
Median home value
36.8%
Bachelor's or higher

The verdict

Elko New Market pairs a top-decile household income with upper-quartile home values, in a rural, homeowner-dominated area.

Top 7%
household income, US ZIPs
Top 16%
home value, US ZIPs
58
people per sq mi
99%
owner-occupied homes

Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 55020 against every reporting US ZIP.

ZIP code 55020 covers 64.6 square miles in Elko New Market, Scott County, Minnesota (a standard USPS delivery area), with a modest 3,717 residents on file, a density of 58 people per square mile, in the Chicago time zone.

ZIP 55020 skews affluent, with a median household income of $131,071 (60% above the Minnesota average), while per-capita income is $53,372. The poverty rate stands at 0.7% and the unemployment rate at 1.5%. On housing, the median home value is $455,500 (78% above the state average) with median rent at - per month, and 99.0% of occupied units are owner-occupied.

A solid share of residents have a four-year degree: 36.8% of adults hold a bachelor's degree or higher, the median age is 36.6, and the average commute is 29 minutes. To put 55020 in local context, 5 ZIP codes within roughly 10 miles appear further down this page alongside 6 additional ZIPs in Scott County, for a geography-aware comparison.

Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →

Top industries in ZIP 55020

Top 5 sectors by establishment count in Elko New Market, MN

Which industries have the most business establishments in ZIP 55020.

establishments

What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.

Source U.S. Census Bureau · ZIP Code Business Patterns (ZBP) As of 2023

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 55020, Elko New Market, MN · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; FHFA HPI updated quarterly/annually.

Quick Facts

3,717

Population

64.6

Area (sq mi)

58

People / sq mi

Chicago

Time Zone

standard

ZIP Type

Neighborhood Scorecard
Get an A-F grade across income, safety, housing, rent, education, commute, and childcare for this ZIP code.
View Scorecard →

Who lives in ZIP 55020?

36.6

Median Age

49.0%

Male

51.0%

Female

3.4%

Foreign-Born

White 91.1%
African American 5.4%
Asian 0.0%
American Indian or Alaska Native 0.0%
Native Hawaiian or Pacific Islander 0.0%
Two or More Ethnicities 1.6%
Hispanic or Latino 5.1%

Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How much do residents earn?

$131,071

Median Household Income

+60% vs state

$53,372

Per Capita Income

0.7%

Poverty Rate

1.5%

Unemployment Rate

29.1 min

Mean Commute Time

How ZIP 55020 ranks nationally

Elko New Market, MN household income vs. every US ZIP code

Median household income, the full national distribution, with this ZIP marked

$131,071 Top 7% higher than 93% of 30,318 US ZIPs

$0–$20,000: 118 US ZIPs (0%). Below this entry. $20,000–$40,000: 1,573 US ZIPs (5%). Below this entry. $40,000–$60,000: 7,092 US ZIPs (23%). Below this entry. $60,000–$80,000: 9,980 US ZIPs (33%). Below this entry. $80,000–$100,000: 5,778 US ZIPs (19%). Below this entry. $100,000–$120,000: 2,855 US ZIPs (9%). Below this entry. $120,000–$140,000: 1,362 US ZIPs (4%). This entry sits in this band. $140,000–$160,000: 686 US ZIPs (2%). Above this entry. $160,000–$180,000: 364 US ZIPs (1%). Above this entry. $180,000–$200,000: 186 US ZIPs (1%). Above this entry. $200,000–$220,000: 324 US ZIPs (1%). Above this entry. This ZIP $0 $200K+ every reporting US ZIP, bucketed by value

Each bar is a $20K-wide band; taller bars hold more US ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What is the education profile here?

High School Graduate or Higher 59.0%
Bachelor's Degree or Higher 36.8%

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What does housing look like?

1,426

Total Housing Units

1,368

Occupied Units

58

Vacant Units

3.00

Avg Household Size

Occupancy Type

Owner 99.0%
Renter 1.0%

$455,500

Median Home Value

+78% vs state

2001

Median Year Built

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How have home values changed over time?

FHFA House Price Index, annual appreciation data based on repeat sales and appraisals

-1.1%

YoY Change (2024)

216

HPI Index (2000 = 100)

+116%

Total Change Since 2000

Home values in ZIP 55020 have decreased 1.1% over the past year (2024). Since 2000, this ZIP has seen +116% cumulative appreciation.

Year Annual Change HPI Index
2020 +3.7% 157
2021 +8.4% 170
2022 +17.0% 199
2023 +9.3% 218
2024 -1.1% 216

Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.

What businesses operate in this ZIP?

Census Bureau data shows 92 business establishments in ZIP 55020, employing approximately 239 people with a combined annual payroll of $18,387,000.

92

Businesses

239

Employees

$18.4M

Annual Payroll

12

Industry Sectors

Industry Establishments % of Total
Construction 24 26.1%
Other services (except public administration) 13 14.1%
Administrative and support and waste management and remediation services 9 9.8%
Professional, scientific, and technical services 8 8.7%
Retail trade 6 6.5%
Transportation and warehousing 5 5.4%
Arts, entertainment, and recreation 5 5.4%
Manufacturing 4 4.3%
Wholesale trade 4 4.3%
Real estate and rental and leasing 4 4.3%
Accommodation and food services 4 4.3%
Health care and social assistance 3 3.3%

Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.

Nearby ZIP Codes

Want a side-by-side? Compare 55020 vs 55054 →

ZIP 55020 vs its nearest neighbors, by population

Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.

residents

What this shows Among its immediate neighbors, ZIP 55020 ranks #4 by population - useful context the national average alone can't give.

Source U.S. Census Bureau · ACS 5-Year Estimates As of 2019–2023

ZIP 55020 vs its nearest neighbors, by median income

Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.

median income

What this shows By household income, ZIP 55020 ranks #5 of 6 neighboring ZIPs, local affluence varies block to block, not just metro to metro.

Source U.S. Census Bureau · ACS 5-Year Estimates As of 2019–2023
ZIP Code City Population Distance
55054 Elko New Market, MN 2,171 1.0 mi
55088 Webster, MN 1,704 3.3 mi
55372 Prior Lake, MN 29,811 7.3 mi
55044 Lakeville, MN 47,218 6.3 mi
55046 Lonsdale, MN 5,211 9.1 mi

More ZIP Codes in Scott County

55379 standard
Shakopee, MN
Pop: 40,416
55372 standard
Prior Lake, MN
Pop: 29,811
55378 standard
Savage, MN
Pop: 26,958
56071 standard
New Prague, MN
Pop: 11,817
56011 standard
Belle Plaine, MN
Pop: 8,925
55352 standard
Jordan, MN
Pop: 8,751

Related Areas

Scott County Elko New Market, MN Minnesota

Frequently Asked Questions

What county is ZIP code 55020 in? ▼
ZIP code 55020 (Elko New Market) is located in Scott County, Minnesota. Scott County contains multiple ZIP codes, see the full list at /counties/scott-mn.
What is the population of ZIP code 55020? ▼
ZIP code 55020 in Elko New Market, MN has a population of 3,717 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 55020? ▼
The median household income in ZIP 55020 is $131,071, which is 72% above the national average of $76,288.
What is the average home value in ZIP 55020? ▼
The median home value in ZIP 55020 is $455,500, which is 64% above the national average of $278,155.
What is the demographic makeup of ZIP 55020? ▼
The largest racial group in ZIP 55020 is White at 91.1%. Hispanic or Latino residents make up 5.1% of the population.
How many businesses are in ZIP code 55020? ▼
ZIP code 55020 has 92 business establishments employing approximately 239 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 55020? ▼
The top industries by establishment count in ZIP 55020 are: Construction (24), Other services (except public administration) (13), Administrative and support and waste management and remediation services (9). There are 12 industry sectors represented in total.
How have home values changed in ZIP code 55020? ▼
According to the FHFA House Price Index, home values in ZIP 55020 decreased by 1.1% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 116%. This is a developmental index based on repeat sales and appraisal data from Fannie Mae and Freddie Mac.
What is the education level in ZIP code 55020? ▼
In ZIP code 55020, 59.0% of residents aged 25+ have a high school diploma or higher, and 36.8% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 55020? ▼
The mean commute time for workers in ZIP code 55020 is 29.1 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend more time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 55020? ▼
In ZIP code 55020, approximately 99.0% of occupied housing units are owner-occupied and 1.0% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 55020? ▼
The poverty rate in ZIP code 55020 is 0.7% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.

Read our methodology to see how this data is sourced, computed, and verified.