Hamel, MN · standard
ZIP Code 55340
Hennepin County, Minnesota — Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 6,327
- 68/sq mi
- $178,553
- Median income
- $639,100
- Median home value
- 63.0%
- Bachelor's or higher
The verdict
Hamel pairs a top-decile household income with top-decile home values, in a rural, homeowner-dominated area.
- Top 2%
- household income, US ZIPs
- Top 8%
- home value, US ZIPs
- 68
- people per sq mi
- 92%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 55340 against every reporting US ZIP.
ZIP code 55340 is classified by USPS as a standard delivery area and covers roughly 93.6 square miles in Hamel, Hennepin County, Minnesota. The area is home to 6,327 residents, producing a population density of 68 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 55340 against Minnesota and the nation.
On the economic side, the median household income for ZIP 55340 sits at $178,553 (117% above the Minnesota average), while per-capita income is $81,439. The poverty rate stands at 6.7% and the unemployment rate at 1.6%. On housing, the median home value is $639,100 (150% above the state average) with median rent at $1,452 per month, and 92.3% of occupied units are owner-occupied, a direct signal of whether 55340 behaves more like a homeowner neighborhood or a renter-heavy ZIP.
Education and household profile round out the picture: 63.0% of adults hold a bachelor's degree or higher, the median age is 39.4, and the average commute is 27 minutes. We also surface 10 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Hennepin County, so you can benchmark 55340 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 55340
Top 5 sectors by establishment count
Which industries have the most business establishments in ZIP 55340.
- Construction
Construction
71 establishments
- Professional, scientific, and technical services
Professional, scientific, and technical services
58 establishments
- Wholesale trade
Wholesale trade
42 establishments
- Other services (except public administration)
Other services (except public administration)
37 establishments
- Administrative and support and waste management and remediation services
Administrative and support and waste management and remediation services
29 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 + HUD FMR + FHFA HPI ACS demographics, ZBP business establishments, HUD Fair Market Rents, FHFA HPI for ZIP 55340, Hamel, 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
6,327
Population
93.6
Area (sq mi)
68
People / sq mi
Chicago
Time Zone
standard
ZIP Type
Who lives in ZIP 55340?
39.4
Median Age
49.1%
Male
50.9%
Female
16.4%
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?
$178,553
Median Household Income
+117% vs state
$81,439
Per Capita Income
6.7%
Poverty Rate
1.6%
Unemployment Rate
26.6 min
Mean Commute Time
How ZIP 55340 ranks nationally
Household income vs. every US ZIP code
Median household income — the full national distribution, with this ZIP marked
$178,553 Top 2% higher than 98% of 30,318 US ZIPs
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?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
3,584
Total Housing Units
3,514
Occupied Units
70
Vacant Units
2.89
Avg Household Size
Occupancy Type
$639,100
Median Home Value
+150% vs state
$1,452
Median Rent
2003
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
+7.7%
YoY Change (2024)
205
HPI Index (2000 = 100)
+105%
Total Change Since 2000
Home values in ZIP 55340 have increased 7.7% over the past year (2024). Since 2000, this ZIP has seen +105% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | -0.7% | 154 |
| 2021 | +10.0% | 170 |
| 2022 | +17.5% | 199 |
| 2023 | -4.6% | 190 |
| 2024 | +7.7% | 205 |
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 379 business establishments in ZIP 55340, employing approximately 8,258 people with a combined annual payroll of $801,560,000.
379
Businesses
8,258
Employees
$801.6M
Annual Payroll
15
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Construction | 71 | 18.7% |
| Professional, scientific, and technical services | 58 | 15.3% |
| Wholesale trade | 42 | 11.1% |
| Other services (except public administration) | 37 | 9.8% |
| Administrative and support and waste management and remediation services | 29 | 7.7% |
| Retail trade | 28 | 7.4% |
| Finance and insurance | 21 | 5.5% |
| Real estate and rental and leasing | 20 | 5.3% |
| Health care and social assistance | 19 | 5.0% |
| Manufacturing | 18 | 4.8% |
| Accommodation and food services | 15 | 4.0% |
| Educational services | 5 | 1.3% |
| Arts, entertainment, and recreation | 5 | 1.3% |
| Transportation and warehousing | 3 | 0.8% |
| Information | 3 | 0.8% |
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 55340 vs 55356 →
ZIP 55340 vs its nearest neighbors, by population
Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 55311
Maple Grove (55311)
32,788 residents
- 55447
Minneapolis (55447)
21,187 residents
- 55446
Minneapolis (55446)
18,695 residents
- 55391
Wayzata (55391)
14,486 residents
- 55374
Rogers (55374)
13,576 residents
- 55442
Minneapolis (55442)
13,217 residents
- 55340 6,327
Hamel (55340)
6,327 residents
- 55373 5,600
Rockford (55373)
5,600 residents
- 55356 5,311
Long Lake (55356)
5,311 residents
What this shows Among its immediate neighbors, ZIP 55340 ranks #7 by population — useful context the national average alone can't give.
ZIP 55340 vs its nearest neighbors, by median income
Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 55340
Hamel (55340)
$178,553 median income
- 55391
Wayzata (55391)
$174,301 median income
- 55446
Minneapolis (55446)
$170,625 median income
- 55341
Hanover (55341)
$157,071 median income
- 55356
Long Lake (55356)
$156,622 median income
- 55311
Maple Grove (55311)
$153,568 median income
- 55357
Loretto (55357)
$152,500 median income
- 55374
Rogers (55374)
$144,714 median income
- 55447
Minneapolis (55447)
$133,555 median income
What this shows By household income, ZIP 55340 ranks the highest of 9 neighboring ZIPs — local affluence varies block to block, not just metro to metro.
| ZIP Code | City | Population | Distance |
|---|---|---|---|
| 55356 | Long Lake, MN | 5,311 | 5.8 mi |
| 55374 | Rogers, MN | 13,576 | 6.9 mi |
| 55357 | Loretto, MN | 3,246 | 4.4 mi |
| 55311 | Maple Grove, MN | 32,788 | 4.4 mi |
| 55446 | Minneapolis, MN | 18,695 | 4.8 mi |
| 55391 | Wayzata, MN | 14,486 | 8.2 mi |
| 55373 | Rockford, MN | 5,600 | 7.3 mi |
| 55447 | Minneapolis, MN | 21,187 | 6.7 mi |
| 55341 | Hanover, MN | 2,850 | 7.0 mi |
| 55442 | Minneapolis, MN | 13,217 | 7.5 mi |
More ZIP Codes in Hennepin County
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Frequently Asked Questions
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How many businesses are in ZIP code 55340? ▼
What are the main industries in ZIP code 55340? ▼
How have home values changed in ZIP code 55340? ▼
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What percentage of residents own vs. rent in ZIP 55340? ▼
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ZIP Code Research Guides
Official Data Resources for Hamel, MN
Verify and explore additional data for this area using these official government sources.
Read our methodology to see how this data is sourced, computed, and verified.