Elko New Market, MN · standard
ZIP Code 55054
Scott County, Minnesota - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 2,171
- 695/sq mi High-density area
- $157,096
- Median income Above-median income area
- $433,100
- Median home value Above-median home value
- 45.5%
- Bachelor's or higher Above-average bachelor's attainment
National ZIP placement
Elko New Market pairs a top-decile household income with upper-quartile home values, in a low-density, homeowner-dominated area.
- Top 3%
- household income, US ZIPs
- Top 18%
- home value, US ZIPs
- 695
- people per sq mi
- 92%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 55054 against every reporting US ZIP.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 55054 (Elko New Market, MN) rose +7.4% from 2023 to 2024. The all-transactions index moved from 192.9 in 2023 to 207.2 in 2024 (2000 = 100).
ZIP code 55054 covers 3.1 square miles in Elko New Market, Scott County, Minnesota (a standard USPS delivery area), with a modest 2,171 residents on file, a density of 695 people per square mile, in the Chicago time zone.
ZIP 55054 skews affluent, with a median household income of $157,096 (91% above the average Minnesota ZIP), while per-capita income is $51,785. Both reported hardship measures are comparatively low in absolute terms: poverty is 1.8% and unemployment is 0.0%. Housing is both higher-cost and owner-heavy: median home value is $433,100 (69% above the average Minnesota ZIP), while 92.1% of occupied homes are owner-occupied and median rent is $2,200.
A solid share of residents have a four-year degree: 45.5% of adults hold a bachelor's degree or higher, the median age is 33.7, and the average commute is -. The page also surfaces 5 ZIP codes within roughly 10 miles and 6 more in Scott County, so 55054 can be compared with both its immediate and county-level context.
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 55054
Top 5 sectors by establishment count in Elko New Market, MN
Which industries have the most business establishments in ZIP 55054.
- Construction
Construction
17 establishments
- Retail trade 6
Retail trade
6 establishments
- Accommodation and food services 6
Accommodation and food services
6 establishments
- Professional, scientific, and technical services 5
Professional, scientific, and technical services
5 establishments
- Real estate and rental and leasing 4
Real estate and rental and leasing
4 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, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 55054, 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
2,171
Population
3.1
Area (sq mi)
695
People / sq mi
Chicago
Time Zone
standard
ZIP Type
Who lives in ZIP 55054?
33.7
Median Age
51.2%
Male
48.8%
Female
4.5%
Foreign-Born
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?
$157,096
Median Household Income
+91% vs state ZIP avg
$51,785
Per Capita Income
1.8%
Poverty Rate
0.0%
Unemployment Rate
How ZIP 55054 ranks among Minnesota ZIPs
Elko New Market, MN household income vs. every Minnesota ZIP code
Median household income among 864 reporting Minnesota ZIPs (this ZIP's population is too small for a reliable national-corpus placement)
$157,096 Top 1% higher than 99% of 864 Minnesota ZIPs
Each bar is a $20K-wide band; taller bars hold more Minnesota 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?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
Housing stock: occupied vs vacant
972housing units
972
Total Housing Units
881
Occupied Units
91
Vacant Units
3.21
Avg Household Size
Occupancy Type
$433,100
Median Home Value
+69% vs state ZIP avg
$2,200
Median Rent
2005
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
+7.4%
YoY Change (2024)
207
HPI Index (2000 = 100)
+107%
Total Change Since 2000
Home values in ZIP 55054 have increased 7.4% over the past year (2024). Since 2000, this ZIP has seen +107% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +3.3% | 154 |
| 2021 | +9.0% | 168 |
| 2022 | +8.7% | 182 |
| 2023 | +5.8% | 193 |
| 2024 | +7.4% | 207 |
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 53 business establishments in ZIP 55054, employing approximately 240 people with a combined annual payroll of $10,367,000.
53
Businesses
240
Employees
$10.4M
Annual Payroll
6
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Construction | 17 | 32.1% |
| Retail trade | 6 | 11.3% |
| Accommodation and food services | 6 | 11.3% |
| Professional, scientific, and technical services | 5 | 9.4% |
| Real estate and rental and leasing | 4 | 7.5% |
| Finance and insurance | 3 | 5.7% |
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 55054 vs 55020 →
ZIP 55054 vs its nearest neighbors, by population
Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 55044
Lakeville (55044)
47,218 residents
- 55372
Prior Lake (55372)
29,811 residents
- 55046 5,211
Lonsdale (55046)
5,211 residents
- 55020 3,717
Elko New Market (55020)
3,717 residents
- 55054 2,171
Elko New Market (55054)
2,171 residents
- 55088 1,704
Webster (55088)
1,704 residents
What this shows Among its immediate neighbors, ZIP 55054 ranks #5 by population - useful context the national average alone can't give.
ZIP 55054 vs its nearest neighbors, by median income
Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 55054
Elko New Market (55054)
$157,096 median income
- 55372
Prior Lake (55372)
$145,499 median income
- 55044
Lakeville (55044)
$141,551 median income
- 55088
Webster (55088)
$132,917 median income
- 55020
Elko New Market (55020)
$131,071 median income
- 55046
Lonsdale (55046)
$95,912 median income
What this shows By household income, ZIP 55054 ranks the highest of 6 neighboring ZIPs, local affluence varies block to block, not just metro to metro.
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 55054, both outside MN so the neighborhoods are not geographic containment (Nearby and same-county blocks stay local).
Similar population
Nearest cross-state ZIPs by resident population (2,171 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in Scott County
Related Areas
Frequently Asked Questions
What county is ZIP code 55054 in?
ZIP code 55054 (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 55054?
ZIP code 55054 in Elko New Market, MN has a population of 2,171 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 55054?
The median household income in ZIP 55054 is $157,096, which is 106% above the national average of $76,288.
What is the average home value in ZIP 55054?
The median home value in ZIP 55054 is $433,100, which is 56% above the national average of $278,155.
What is the demographic makeup of ZIP 55054?
The largest racial group in ZIP 55054 is White at 75.7%. Hispanic or Latino residents make up 3.9% of the population.
How many businesses are in ZIP code 55054?
ZIP code 55054 has 53 business establishments employing approximately 240 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 55054?
The top industries by establishment count in ZIP 55054 are: Construction (17), Retail trade (6), Accommodation and food services (6). There are 6 industry sectors represented in total.
How have home values changed in ZIP code 55054?
According to the FHFA House Price Index, home values in ZIP 55054 increased by 7.4% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 107%. 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 55054?
In ZIP code 55054, 59.6% of residents aged 25+ have a high school diploma or higher, and 45.5% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What percentage of residents own vs. rent in ZIP 55054?
In ZIP code 55054, approximately 92.1% of occupied housing units are owner-occupied and 7.9% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 55054?
The poverty rate in ZIP code 55054 is 1.8% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.
Related
Take this with you
What to do with ZIP 55054's numbers, next.
- See how ZIP 55054 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
- Check where Elko New Market, MN ranks among every U.S. ZIP code on income, education, or homeownership View national rankings
- Save this ZIP to your shortlist to track alongside others you're considering View your shortlist
ZIP Code Tabulation Areas (ZCTAs) are Census Bureau approximations of USPS ZIP codes; figures describe the ZCTA area, not any single address within it.