Minnetonka, MN · standard

ZIP Code 55345

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

21,147
719/sq mi
$145,332
Median income
$504,000
Median home value
65.2%
Bachelor's or higher

The verdict

Minnetonka pairs a top-decile household income with upper-quartile home values, in a low-density, homeowner-dominated area.

Top 4%
household income, US ZIPs
Top 13%
home value, US ZIPs
719
people per sq mi
85%
owner-occupied homes

Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 55345 against every reporting US ZIP.

ZIP code 55345 is classified by USPS as a standard delivery area and covers roughly 29.4 square miles in Minnetonka, Hennepin County, Minnesota. The area is home to 21,147 residents, producing a population density of 719 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 55345 against Minnesota and the nation.

On the economic side, the median household income for ZIP 55345 sits at $145,332 (77% above the Minnesota average), while per-capita income is $77,623. The poverty rate stands at 4.4% and the unemployment rate at 2.5%. On housing, the median home value is $504,000 (97% above the state average) with median rent at $1,446 per month, and 85.3% of occupied units are owner-occupied, a direct signal of whether 55345 behaves more like a homeowner neighborhood or a renter-heavy ZIP.

Education and household profile round out the picture: 65.2% of adults hold a bachelor's degree or higher, the median age is 44.6, and the average commute is 21 minutes. We also surface 10 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Hennepin County, so you can benchmark 55345 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 55345

Top 5 sectors by establishment count

Which industries have the most business establishments in ZIP 55345.

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 55345, Minnetonka, 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

21,147

Population

29.4

Area (sq mi)

719

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 55345?

44.6

Median Age

50.5%

Male

49.5%

Female

9.9%

Foreign-Born

White 85.9%
African American 1.3%
Asian 5.0%
American Indian or Alaska Native 0.1%
Native Hawaiian or Pacific Islander 0.0%
Two or More Ethnicities 7.2%
Hispanic or Latino 4.6%

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?

$145,332

Median Household Income

+77% vs state

$77,623

Per Capita Income

4.4%

Poverty Rate

2.5%

Unemployment Rate

20.8 min

Mean Commute Time

How ZIP 55345 ranks nationally

Household income vs. every US ZIP code

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

$145,332 Top 4% higher than 96% 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 75.4%
Bachelor's Degree or Higher 65.2%

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

What does housing look like?

8,653

Total Housing Units

8,313

Occupied Units

340

Vacant Units

2.49

Avg Household Size

Occupancy Type

Owner 85.3%
Renter 14.7%

$504,000

Median Home Value

+97% vs state

$1,446

Median Rent

1972

Median Year Built

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

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

+3.3%

YoY Change (2024)

228

HPI Index (2000 = 100)

+128%

Total Change Since 2000

Home values in ZIP 55345 have increased 3.3% over the past year (2024). Since 2000, this ZIP has seen +128% cumulative appreciation.

Year Annual Change HPI Index
2020 +1.7% 171
2021 +9.2% 187
2022 +13.3% 212
2023 +4.4% 221
2024 +3.3% 228

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 675 business establishments in ZIP 55345, employing approximately 7,854 people with a combined annual payroll of $510,896,000.

675

Businesses

7,854

Employees

$510.9M

Annual Payroll

16

Industry Sectors

Industry Establishments % of Total
Professional, scientific, and technical services 133 19.7%
Health care and social assistance 91 13.5%
Construction 73 10.8%
Other services (except public administration) 59 8.7%
Retail trade 47 7.0%
Real estate and rental and leasing 46 6.8%
Finance and insurance 44 6.5%
Wholesale trade 39 5.8%
Administrative and support and waste management and remediation services 39 5.8%
Accommodation and food services 32 4.7%
Manufacturing 22 3.3%
Educational services 18 2.7%
Arts, entertainment, and recreation 12 1.8%
Information 11 1.6%
Transportation and warehousing 4 0.6%
Management of companies and enterprises 3 0.4%

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 55345 vs 55346 →

ZIP 55345 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 55345 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 55345 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 55345 ranks #4 of 9 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
55346 Eden Prairie, MN 16,776 2.5 mi
55343 Hopkins, MN 23,933 3.3 mi
55305 Hopkins, MN 19,368 3.7 mi
55447 Minneapolis, MN 21,187 5.9 mi
55391 Wayzata, MN 14,486 4.2 mi
55347 Eden Prairie, MN 30,069 6.0 mi
55344 Eden Prairie, MN 13,952 4.4 mi
55436 Minneapolis, MN 13,138 5.4 mi
55317 Chanhassen, MN 19,218 5.2 mi
55446 Minneapolis, MN 18,695 8.9 mi

More ZIP Codes in Hennepin County

Frequently Asked Questions

What county is ZIP code 55345 in?
ZIP code 55345 (Minnetonka) 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 55345?
ZIP code 55345 in Minnetonka, MN has a population of 21,147 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 55345?
The median household income in ZIP 55345 is $145,332, which is 91% above the national average of $76,288.
What is the average home value in ZIP 55345?
The median home value in ZIP 55345 is $504,000, which is 81% above the national average of $278,155.
What is the demographic makeup of ZIP 55345?
The largest racial group in ZIP 55345 is White at 85.9%. Hispanic or Latino residents make up 4.6% of the population.
How many businesses are in ZIP code 55345?
ZIP code 55345 has 675 business establishments employing approximately 7,854 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 55345?
The top industries by establishment count in ZIP 55345 are: Professional, scientific, and technical services (133), Health care and social assistance (91), Construction (73). There are 16 industry sectors represented in total.
How have home values changed in ZIP code 55345?
According to the FHFA House Price Index, home values in ZIP 55345 increased by 3.3% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 128%. 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 55345?
In ZIP code 55345, 75.4% of residents aged 25+ have a high school diploma or higher, and 65.2% 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 55345?
The mean commute time for workers in ZIP code 55345 is 20.8 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend less time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 55345?
In ZIP code 55345, approximately 85.3% of occupied housing units are owner-occupied and 14.7% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 55345?
The poverty rate in ZIP code 55345 is 4.4% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.

ZIP Code Research Guides

Official Data Resources for Minnetonka, MN

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