Interested in purchasing investment houses in the 55408 zip code in Minneapolis, MN?
The zip code 55408 is in Hennepin county with a latitude of -93.291970000000 and longitude of 44.940050000000, is in the state of Minnesota. The average asking price of houses and condos is $285,630.00 and the average sale price was $208,282.00. this regions is classified as the Minneapolis - Saint Paul metro area and is in the 612 area code. The location in degrees is 44° 56' 24.18" N, 93° 17' 31.092" W. The county F.I.P.S. is 27053. The total land area is 2.7 square miles and the water area is 0.5 square miles. The elevation in this area is 866 - 889 feet. The zip code is on central standard time and observes daylight savings time.
The zip 55408 is in county number 053 and is L. Sector , L. Segment , H. Sector , and H. Segment . The population was 32,077 in 2019 and 29,981 in 2010. This further breaks down to 16,947 males (52.8%) and 15,129 females (47.2%). The median age of residents is 30.4 years. The population of the greater Minneapolis-St. Paul-Bloomington, MN-WI area is 3,328,053. The population density (people per square mile) is 11,803. This zip code has a combined total of 16,979 houses and condos. There are 11,665 rented appartments. 75% of residents rent versus the 75% of residents in the state who rent.
The financial status of those living in this area is considered lower middle class. The average individual gross adjusted income is $49,661 and the average salary is $44,109. The median household income of individuals is $46,506.00 and the average is $60,930.00. This zip code has a mean commute time to work of 24.8 minutes. The unemployment rate is 3.0%. Income earners by percent breakdown as 53.60% (Under $50,000), 30.40% ($50,000-$100,000), and 16.00% earn over $100,000. 13.0% of residents live below poverty line versus the 9.0% in the state that are below this line. The cost of living index is 114.9. The educational breakdown is 88.3% have a high school education or higher, 54.7% have a bachelor's degree or higher, and 20.4% have some kind of profesional degree.
This area has 14,454 households and the average size is 2.0 people. Individuals who are single and have never been married are 59.2%, 27.5% are now married, 1.7% are separated, 1.6% are widowed, and 10.0% are divorced. The average yearly contribution amount given by people to charity was $3,239 versus the state average of $3,948. The percent of residents who gave to charity was 15.1%.
The estimated median value of houses and condos is $316,465. The median monthly owner costs of mortgage holders was $1,909, where as the costs for those who don't have a mortgage are $813. The median number of rooms in houses and condos are 6.7 versus apartments which had a median number of 3.3.
The real estate tax percent rate is 1.3% which equated to an average real estate tax amount payment of $4,238. In comparision, the average real estate tax percent rate in the state is 1.1% which equated to an average real estate tax amount payment in the state of $2,670. The median housing property tax percent for residents with mortgages was 1.3% which amounted to an average tax amount of $4,072. Conversely, the median housing property tax percent for residents who don't have mortgages was 1.4% which amounted to an average tax amount of $4,498. Reported taxable interest for persons was $1,253, dividends $4,965, capital gains +$18,056, and itemized deductions $23,809. The average earned income tax credit is $1,985. The percent of individuals that use a tax preparer is 43.5%. The total average income taxes paid by individuals was $11,995. Businesses reported an average profit of $13,002.
Isles Bun & Coffee
1424 W 28th St, Minneapolis, MN 55408
Quang Restaurant
2719 Nicollet Ave, Minneapolis, MN 55408
Cafe Lurcat
1624 Harmon Pl, Minneapolis, MN 55403 (1.4 miles away)
Manny's Steakhouse
825 Marquette Ave, Minneapolis, MN 55402 (2.1 miles away)
Bar La Grassa
800 Washington Ave N, Minneapolis, MN 55401 (2.7 miles away)
Pizzeria Lola
5557 Xerxes Ave S, Minneapolis, MN 55410 (2.9 miles away)
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