PlainZIP

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
$157,096
Median income
$433,100
Median home value
45.5%
Bachelor's or higher

The verdict

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.

ZIP code 55054 is classified by USPS as a standard delivery area and covers roughly 3.1 square miles in Elko New Market, Scott County, Minnesota. The area is home to 2,171 residents, producing a population density of 695 people per square mile, and falls within the Chicago time zone. These USPS and Census boundary values drive every downstream statistic on this page, including the benchmarks that compare 55054 against Minnesota and the nation.

On the economic side, the median household income for ZIP 55054 sits at $157,096 (91% above the Minnesota average), while per-capita income is $51,785. The poverty rate stands at 1.8% and the unemployment rate at 0.0%. On housing, the median home value is $433,100 (69% above the state average) with median rent at $2,200 per month, and 92.1% of occupied units are owner-occupied, a direct signal of whether 55054 behaves more like a homeowner neighborhood or a renter-heavy ZIP.

Education and household profile round out the picture: 45.5% of adults hold a bachelor's degree or higher, the median age is 33.7, and the average commute is —. We also surface 5 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Scott County, so you can benchmark 55054 against its immediate geography rather than a national average alone. Every figure is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates, HUD Fair Market Rents, and FHFA Home Price Index data, no estimates, no proprietary scoring. Verify with HUD →

Top industries in ZIP 55054

Top 5 sectors by establishment count

Which industries have the most business establishments in ZIP 55054.

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 + HUD FMR + FHFA HPI ACS demographics, ZBP business establishments, HUD Fair Market Rents, 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; HUD FMR + 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

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 55054?

33.7

Median Age

51.2%

Male

48.8%

Female

4.5%

Foreign-Born

White 75.7%
African American 9.2%
Asian 2.5%
American Indian or Alaska Native 0.0%
Native Hawaiian or Pacific Islander 0.0%
Two or More Ethnicities 12.6%
Hispanic or Latino 3.9%

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

$51,785

Per Capita Income

1.8%

Poverty Rate

0.0%

Unemployment Rate

How ZIP 55054 ranks nationally

Household income vs. every US ZIP code

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

$157,096 Top 3% higher than 97% 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%). Below this entry. $140,000–$160,000: 686 US ZIPs (2%). This entry sits in this band. $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 59.6%
Bachelor's Degree or Higher 45.5%

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

What does housing look like?

972

Total Housing Units

881

Occupied Units

91

Vacant Units

3.21

Avg Household Size

Occupancy Type

Owner 92.1%
Renter 7.9%

$433,100

Median Home Value

+69% vs state

$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.

residents

What this shows Among its immediate neighbors, ZIP 55054 ranks #5 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 55054 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 55054 ranks the highest 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
55020 Elko New Market, MN 3,717 1.0 mi
55088 Webster, MN 1,704 3.3 mi
55044 Lakeville, MN 47,218 6.0 mi
55372 Prior Lake, MN 29,811 8.0 mi
55046 Lonsdale, MN 5,211 9.0 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 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.

ZIP Code Research Guides

Reading Census Demographics
How to interpret population, income, and education data from the Census Bureau.
Understanding ZIP Code Data
What ZIP codes are, how ZCTAs differ, and what the data reveals.
Best ZIP Codes for Families
Key factors to evaluate when choosing a family-friendly neighborhood.
ZIP Codes for Relocation
Data-driven tips for evaluating ZIP codes before a move.

Official Data Resources for Elko New Market, MN

Verify and explore additional data for this area using these official government sources.

U.S. Census Bureau
Official demographic, economic, and housing data from the American Community Survey.
HUD Fair Market Rents
Department of Housing and Urban Development rental cost estimates by metropolitan area.
FBI Uniform Crime Reports
Official crime statistics compiled from law enforcement agencies nationwide.
FHFA House Price Index
Federal Housing Finance Agency home value trends based on repeat sales and appraisals.

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