Hennepin County · Minnesota
ZIP code 55407
- Population
- 36,992
- Median income
- $78,206
- Median home
- $317,000
- Sales tax
- 9.025%
ZCTA residents
Household, past 12 months
Owner-occupied value
Combined state + local
Quick answer
ZIP 55407 sits in Hennepin County, Minnesota and is home to 36,992 people. Median household income is $78,206, the median home is worth $317,000 and median gross rent is $1,219. 60.3% of households own their home, and purchases are taxed at 9.025% combined.
- County
- Hennepin County
- State
- Minnesota (MN)
- Area codes
- 218, 612, 651, 763, 952
FIPS 27053
880 ZIPs covered
NANPA codes serving this area
The numbers for 55407
American Community Survey 2019-2023 ACS 5-year estimates for this ZCTA.
- Population
- 36,992ZIP 55407 residents
- Median household income
- $78,206Past 12 months, inflation adjusted
- Median home value
- $317,000Owner-occupied units
- Median gross rent
- $1,219Rent plus utilities, monthly
- Median age
- 34.3 yrsAll residents
- Homeownership rate
- 60.3%Owner-occupied households
Sales tax in 55407
What a purchase inside this ZIP costs at checkout.
This ZIP falls inside the Minneapolis rate area, so state, county, city and district levies are published here as a full stack.
Affordability in this ZIP
Derived from the Census medians above — indicative, not an offer.
A rent burden above 30% is the federal threshold for cost-burdened households, and a price-to-income multiple above 4× is generally considered a stretched housing market. The mortgage figure is principal and interest only — taxes, insurance and HOA dues are extra.
How 55407 compares
ZIP 55407 against the median ZIP in Hennepin County and across Minnesota.
| Measure | ZIP 55407 | County median | State median | vs state |
|---|---|---|---|---|
| Median household income | $78,206 | $103,176 | $75,417 | +4% |
| Median home value | $317,000 | $387,500 | $221,650 | +43% |
| Median gross rent | $1,219 | $1,444 | $925 | +32% |
| Population | 36,992 | 18,602 | 1,800 | +1955% |
Medians are computed across the 67 ZIP areas in Hennepin County and the 880 ZIP areas in Minnesota.
Statewide rank
Where this ZIP places among all 880 Minnesota ZIP areas.
- Income
- #382
- Home value
- #167
- Population
- #22
richer than 56% of 862 state ZIPs
above 80% of 856 state ZIPs
larger than 98% of 880 state ZIPs
Comparable ZIP codes
Minnesota ZIP areas with almost the same household income.
Nearby ZIP codes
Other ZIP codes filed under Hennepin County.
ZIP 55407 questions
Common questions about this ZIP code.
- Where is ZIP code 55407?
- ZIP 55407 lies mostly in Hennepin County, Minnesota. County assignment follows the largest share of land area, so a ZIP straddling a county line is filed under its dominant county.
- What sales tax do I pay in 55407?
- Purchases are taxed at 9.025% combined, built from the Minneapolis jurisdiction stack.
- Is 55407 expensive to live in?
- Median rent runs $1,219 a month, about 19% of median household income, and the median home is worth $317,000 — +43% against the typical Minnesota ZIP.
- Is a ZCTA the same as a postal ZIP code?
- Not exactly. The Census builds ZIP Code Tabulation Areas from the ZIP codes of addresses inside each census block, so a ZCTA can differ slightly from the USPS delivery route of the same number, and PO-box-only ZIPs have no ZCTA at all.
Keep going
Related pages for this area.
Sources & transparency
- US Census Bureau, ACS 2019-2023 5-year estimates — 2019-2023 ACS 5-year — population, income, housing
- Census 2020 ZCTA-to-county relationship file — County assignment by largest land-area overlap
- Minnesota Department of Revenue — Sales tax rates and local add-ons
Last reviewed December 2024. Figures are published for reference and can change; verify with the source agency before filing or contracting. How we build and check this data.