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 Moderate-density area
- $178,553
- Median income Above-median income area
- $639,100
- Median home value Above-median home value
- 63.0%
- Bachelor's or higher Above-average bachelor's attainment
National ZIP placement
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.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 55340 (Hamel, MN) rose +7.7% from 2023 to 2024. The all-transactions index moved from 190.1 in 2023 to 204.6 in 2024 (2000 = 100).
ZIP code 55340 is a mid-sized community (a standard USPS delivery area) in Hamel, Hennepin County, Minnesota, home to 6,327 residents across 93.6 square miles, a density of 68 people per square mile, in the Chicago time zone.
ZIP 55340 skews affluent, with a median household income of $178,553 (117% above the average Minnesota ZIP), while per-capita income is $81,439. Both reported hardship measures are comparatively low in absolute terms: poverty is 6.7% and unemployment is 1.6%. Housing is both higher-cost and owner-heavy: median home value is $639,100 (150% above the average Minnesota ZIP), while 92.3% of occupied homes are owner-occupied and median rent is $1,452.
This is a highly-educated ZIP: 63.0% of adults hold a bachelor's degree or higher, the median age is 39.4, and the average commute is 27 minutes. The page also surfaces 10 ZIP codes within roughly 10 miles and 6 more in Hennepin County, so 55340 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 55340
Top 5 sectors by establishment count in Hamel, MN
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 + FHFA HPI ACS demographics and median rent, ZBP business establishments, 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; 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 ZIP avg
$81,439
Per Capita Income
6.7%
Poverty Rate
1.6%
Unemployment Rate
26.6 min
Mean Commute Time
How ZIP 55340 ranks among Minnesota ZIPs
Hamel, 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)
$178,553 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
3,584housing units
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 ZIP avg
$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 |
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 55340, 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 (6,327 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in Hennepin County
Related Areas
Frequently Asked Questions
What county is ZIP code 55340 in?
ZIP code 55340 (Hamel) is located in Hennepin County, Minnesota. Hennepin County contains multiple ZIP codes, see the full list at /counties/hennepin-mn.
What is the population of ZIP code 55340?
ZIP code 55340 in Hamel, MN has a population of 6,327 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 55340?
The median household income in ZIP 55340 is $178,553, which is 134% above the national average of $76,288.
What is the average home value in ZIP 55340?
The median home value in ZIP 55340 is $639,100, which is 130% above the national average of $278,155.
What is the demographic makeup of ZIP 55340?
The largest racial group in ZIP 55340 is White at 74.3%. Hispanic or Latino residents make up 1.5% of the population.
How many businesses are in ZIP code 55340?
ZIP code 55340 has 379 business establishments employing approximately 8,258 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 55340?
The top industries by establishment count in ZIP 55340 are: Construction (71), Professional, scientific, and technical services (58), Wholesale trade (42). There are 15 industry sectors represented in total.
How have home values changed in ZIP code 55340?
According to the FHFA House Price Index, home values in ZIP 55340 increased by 7.7% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 105%. 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 55340?
In ZIP code 55340, 73.3% of residents aged 25+ have a high school diploma or higher, and 63.0% 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 55340?
The mean commute time for workers in ZIP code 55340 is 26.6 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 55340?
In ZIP code 55340, approximately 92.3% of occupied housing units are owner-occupied and 7.7% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 55340?
The poverty rate in ZIP code 55340 is 6.7% 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 55340's numbers, next.
- See how ZIP 55340 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
- Check where Hamel, 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.