Watertown, MN · standard
ZIP Code 55388
Carver County, Minnesota — Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 5,619
- 54/sq mi
- $99,375
- Median income
- $356,900
- Median home value
- 23.6%
- Bachelor's or higher
The verdict
Watertown pairs an upper-quartile household income with upper-quartile home values, in a rural, homeowner-dominated area.
- Top 19%
- household income, US ZIPs
- Top 25%
- home value, US ZIPs
- 54
- people per sq mi
- 85%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 55388 against every reporting US ZIP.
ZIP code 55388 is classified by USPS as a standard delivery area and covers roughly 103.9 square miles in Watertown, Carver County, Minnesota. The area is home to 5,619 residents, producing a population density of 54 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 55388 against Minnesota and the nation.
On the economic side, the median household income for ZIP 55388 sits at $99,375 (21% above the Minnesota average), while per-capita income is $43,394. The poverty rate stands at 7.3% and the unemployment rate at 0.7%. On housing, the median home value is $356,900 (40% above the state average) with median rent at $953 per month, and 84.5% of occupied units are owner-occupied, a direct signal of whether 55388 behaves more like a homeowner neighborhood or a renter-heavy ZIP.
Education and household profile round out the picture: 23.6% of adults hold a bachelor's degree or higher, the median age is 34.7, and the average commute is 27 minutes. We also surface 10 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Carver County, so you can benchmark 55388 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 55388
Top 5 sectors by establishment count
Which industries have the most business establishments in ZIP 55388.
- Construction
Construction
51 establishments
- Other services (except public administration) 17
Other services (except public administration)
17 establishments
- Administrative and support and waste management and remediation services 12
Administrative and support and waste management and remediation services
12 establishments
- Manufacturing 10
Manufacturing
10 establishments
- Health care and social assistance 10
Health care and social assistance
10 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 55388, Watertown, 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
5,619
Population
103.9
Area (sq mi)
54
People / sq mi
Chicago
Time Zone
standard
ZIP Type
Who lives in ZIP 55388?
34.7
Median Age
50.0%
Male
50.0%
Female
1.7%
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?
$99,375
Median Household Income
+21% vs state
$43,394
Per Capita Income
7.3%
Poverty Rate
0.7%
Unemployment Rate
26.5 min
Mean Commute Time
How ZIP 55388 ranks nationally
Household income vs. every US ZIP code
Median household income — the full national distribution, with this ZIP marked
$99,375 Top 19% higher than 81% 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?
2,281
Total Housing Units
2,184
Occupied Units
97
Vacant Units
2.67
Avg Household Size
Occupancy Type
$356,900
Median Home Value
+40% vs state
$953
Median Rent
1992
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
-0.1%
YoY Change (2024)
195
HPI Index (2000 = 100)
+95%
Total Change Since 2000
Home values in ZIP 55388 have decreased 0.1% over the past year (2024). Since 2000, this ZIP has seen +95% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +1.7% | 152 |
| 2021 | +11.1% | 169 |
| 2022 | +11.4% | 189 |
| 2023 | +3.3% | 195 |
| 2024 | -0.1% | 195 |
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 154 business establishments in ZIP 55388, employing approximately 759 people with a combined annual payroll of $36,915,000.
154
Businesses
759
Employees
$36.9M
Annual Payroll
14
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Construction | 51 | 33.1% |
| Other services (except public administration) | 17 | 11.0% |
| Administrative and support and waste management and remediation services | 12 | 7.8% |
| Manufacturing | 10 | 6.5% |
| Health care and social assistance | 10 | 6.5% |
| Accommodation and food services | 10 | 6.5% |
| Real estate and rental and leasing | 9 | 5.8% |
| Professional, scientific, and technical services | 9 | 5.8% |
| Retail trade | 7 | 4.5% |
| Finance and insurance | 4 | 2.6% |
| Wholesale trade | 3 | 1.9% |
| Transportation and warehousing | 3 | 1.9% |
| Educational services | 3 | 1.9% |
| Arts, entertainment, and recreation | 3 | 1.9% |
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 55388 vs 55360 →
ZIP 55388 vs its nearest neighbors, by population
Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 55387
Waconia (55387)
12,249 residents
- 55328
Delano (55328)
8,541 residents
- 55359
Maple Plain (55359)
5,954 residents
- 55388
Watertown (55388)
5,619 residents
- 55373
Rockford (55373)
5,600 residents
- 55375 4,518
Saint Bonifacius (55375)
4,518 residents
- 55363 4,496
Montrose (55363)
4,496 residents
- 55397 2,693
Young America (55397)
2,693 residents
- 55360 2,672
Mayer (55360)
2,672 residents
What this shows Among its immediate neighbors, ZIP 55388 ranks #4 by population — useful context the national average alone can't give.
ZIP 55388 vs its nearest neighbors, by median income
Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 55375
Saint Bonifacius (55375)
$130,893 median income
- 55359
Maple Plain (55359)
$129,250 median income
- 55360
Mayer (55360)
$122,117 median income
- 55387
Waconia (55387)
$114,511 median income
- 55328
Delano (55328)
$114,158 median income
- 55373
Rockford (55373)
$105,556 median income
- 55390
Waverly (55390)
$103,750 median income
- 55363
Montrose (55363)
$101,989 median income
- 55388
Watertown (55388)
$99,375 median income
What this shows By household income, ZIP 55388 ranks #9 of 9 neighboring ZIPs — local affluence varies block to block, not just metro to metro.
| ZIP Code | City | Population | Distance |
|---|---|---|---|
| 55360 | Mayer, MN | 2,672 | 4.6 mi |
| 55328 | Delano, MN | 8,541 | 6.2 mi |
| 55375 | Saint Bonifacius, MN | 4,518 | 6.2 mi |
| 55387 | Waconia, MN | 12,249 | 7.3 mi |
| 55363 | Montrose, MN | 4,496 | 7.3 mi |
| 55367 | New Germany, MN | 913 | 7.5 mi |
| 55359 | Maple Plain, MN | 5,954 | 8.0 mi |
| 55397 | Young America, MN | 2,693 | 10.2 mi |
| 55390 | Waverly, MN | 2,473 | 10.3 mi |
| 55373 | Rockford, MN | 5,600 | 11.3 mi |
More ZIP Codes in Carver County
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Frequently Asked Questions
What county is ZIP code 55388 in? ▼
What is the population of ZIP code 55388? ▼
What is the median household income in ZIP 55388? ▼
What is the average home value in ZIP 55388? ▼
What is the demographic makeup of ZIP 55388? ▼
How many businesses are in ZIP code 55388? ▼
What are the main industries in ZIP code 55388? ▼
How have home values changed in ZIP code 55388? ▼
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What is the average commute time in ZIP 55388? ▼
What percentage of residents own vs. rent in ZIP 55388? ▼
What is the poverty rate in ZIP code 55388? ▼
ZIP Code Research Guides
Official Data Resources for Watertown, 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.