PlainZIP

Minneapolis, MN · standard

ZIP Code 55416

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

29,027
1,531/sq mi
$105,958
Median income
$461,500
Median home value
71.4%
Bachelor's or higher

The verdict

Minneapolis pairs an upper-quartile household income with upper-quartile home values, in a low-density, mixed-tenure area.

Top 15%
household income, US ZIPs
Top 15%
home value, US ZIPs
1,531
people per sq mi
50%
owner-occupied homes

Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 55416 against every reporting US ZIP.

ZIP code 55416 is a densely settled ZIP (a standard USPS delivery area) in Minneapolis, Hennepin County, Minnesota, with 29,027 residents across 19.0 square miles, a density of 1,531 people per square mile, in the Chicago time zone.

ZIP 55416 lands in the middle-income range, with a median household income of $105,958 (29% above the Minnesota average), while per-capita income is $74,220. Local economic indicators show a 5.9% poverty rate alongside 3.3% unemployment. Housing costs here run $461,500 for a typical home value (80% above the state average), with rent averaging $1,755 a month; 49.9% of homes are owner-occupied.

This is a highly-educated ZIP: 71.4% of adults hold a bachelor's degree or higher, the median age is 35.6, and the average commute is 20 minutes. Beyond these figures, 10 nearby ZIP codes within about 10 miles are surfaced below, along with 6 more sharing Hennepin County, letting you compare 55416 to its immediate surroundings rather than a national baseline alone.

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 55416

Top 5 sectors by establishment count in Minneapolis, MN

Which industries have the most business establishments in ZIP 55416.

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 + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 55416, Minneapolis, 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

29,027

Population

19.0

Area (sq mi)

1,531

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 55416?

35.6

Median Age

49.6%

Male

50.4%

Female

7.5%

Foreign-Born

White 81.5%
African American 4.7%
Asian 2.9%
American Indian or Alaska Native 0.2%
Native Hawaiian or Pacific Islander 0.0%
Two or More Ethnicities 10.0%
Hispanic or Latino 8.0%

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?

$105,958

Median Household Income

+29% vs state

$74,220

Per Capita Income

5.9%

Poverty Rate

3.3%

Unemployment Rate

20.2 min

Mean Commute Time

How ZIP 55416 ranks nationally

Minneapolis, MN household income vs. every US ZIP code

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

$105,958 Top 15% higher than 85% 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%). This entry sits in this band. $120,000–$140,000: 1,362 US ZIPs (4%). Above this entry. $140,000–$160,000: 686 US ZIPs (2%). Above this entry. $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 79.2%
Bachelor's Degree or Higher 71.4%

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

What does housing look like?

19,444

Total Housing Units

18,055

Occupied Units

1,389

Vacant Units

1.92

Avg Household Size

Occupancy Type

Owner 49.9%
Renter 50.1%

$461,500

Median Home Value

+80% vs state

$1,755

Median Rent

1974

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

+3.1%

YoY Change (2024)

239

HPI Index (2000 = 100)

+139%

Total Change Since 2000

Home values in ZIP 55416 have increased 3.1% over the past year (2024). Since 2000, this ZIP has seen +139% cumulative appreciation.

Year Annual Change HPI Index
2020 +2.7% 199
2021 +6.7% 212
2022 +10.2% 234
2023 -0.8% 232
2024 +3.1% 239

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 1,559 business establishments in ZIP 55416, employing approximately 37,530 people with a combined annual payroll of $3,877,682,000.

1,559

Businesses

37,530

Employees

$3.9B

Annual Payroll

16

Industry Sectors

Industry Establishments % of Total
Professional, scientific, and technical services 330 21.2%
Health care and social assistance 204 13.1%
Real estate and rental and leasing 180 11.6%
Other services (except public administration) 142 9.1%
Finance and insurance 129 8.3%
Retail trade 116 7.4%
Accommodation and food services 81 5.2%
Administrative and support and waste management and remediation services 69 4.4%
Construction 64 4.1%
Wholesale trade 63 4.0%
Information 41 2.6%
Arts, entertainment, and recreation 36 2.3%
Educational services 30 1.9%
Transportation and warehousing 26 1.7%
Manufacturing 25 1.6%
Management of companies and enterprises 22 1.4%

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 55416 vs 55424 →

ZIP 55416 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 55416 ranks #2 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 55416 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 55416 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
55424 Minneapolis, MN 9,685 3.0 mi
55426 Minneapolis, MN 24,945 2.1 mi
55405 Minneapolis, MN 15,411 2.2 mi
55408 Minneapolis, MN 29,981 2.4 mi
55410 Minneapolis, MN 19,340 2.8 mi
55422 Minneapolis, MN 27,820 4.1 mi
55403 Minneapolis, MN 14,985 3.0 mi
55409 Minneapolis, MN 11,615 3.1 mi
55435 Minneapolis, MN 11,592 5.2 mi
55436 Minneapolis, MN 13,138 3.6 mi

More ZIP Codes in Hennepin County

55407 standard
Minneapolis, MN
Pop: 37,881
55423 standard
Minneapolis, MN
Pop: 35,375
55311 standard
Maple Grove, MN
Pop: 32,788
55369 standard
Osseo, MN
Pop: 32,524
55443 standard
Minneapolis, MN
Pop: 32,462
55406 standard
Minneapolis, MN
Pop: 32,112

Related Areas

Hennepin County Minneapolis, MN Minnesota

Frequently Asked Questions

What county is ZIP code 55416 in? ▼
ZIP code 55416 (Minneapolis) 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 55416? ▼
ZIP code 55416 in Minneapolis, MN has a population of 29,027 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 55416? ▼
The median household income in ZIP 55416 is $105,958, which is 39% above the national average of $76,288.
What is the average home value in ZIP 55416? ▼
The median home value in ZIP 55416 is $461,500, which is 66% above the national average of $278,155.
What is the demographic makeup of ZIP 55416? ▼
The largest racial group in ZIP 55416 is White at 81.5%. Hispanic or Latino residents make up 8.0% of the population.
How many businesses are in ZIP code 55416? ▼
ZIP code 55416 has 1,559 business establishments employing approximately 37,530 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 55416? ▼
The top industries by establishment count in ZIP 55416 are: Professional, scientific, and technical services (330), Health care and social assistance (204), Real estate and rental and leasing (180). There are 16 industry sectors represented in total.
How have home values changed in ZIP code 55416? ▼
According to the FHFA House Price Index, home values in ZIP 55416 increased by 3.1% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 139%. 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 55416? ▼
In ZIP code 55416, 79.2% of residents aged 25+ have a high school diploma or higher, and 71.4% 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 55416? ▼
The mean commute time for workers in ZIP code 55416 is 20.2 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 55416? ▼
In ZIP code 55416, approximately 49.9% of occupied housing units are owner-occupied and 50.1% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 55416? ▼
The poverty rate in ZIP code 55416 is 5.9% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.

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