ElderCareCost
Showing results for ZIP 55306 (MN)
Home ZIP 43607

Nursing Care Facilities Market: ZIP 43607

Opportunity Score
57 / 100 Fair
Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 43607 is an urban area with moderate foot traffic. with a population of 19,969 and household incomes below the national median ($37,442).

Area Profile

19,969
Population
$37,442
Median Income
-50% vs. national
Urban
Area Type
13.1/20
Foot Traffic
Walkable
Median Age: 32.5 — mixed-age market, broad menu appeal.
College-Educated: 13.2% — value-focused market, keep prices competitive.

Operating Costs

Local cost levels affect space, labor, and operating expenses.

$1,010
2BR Fair Market Rent
$881
Median Gross Rent
$73 K
Median Home Value
1
Bank Branches
$33 K deposits

Tips for Starting a Elder Care Business in Ohio

  • State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
  • Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
  • Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
  • Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.
  • Median income sits at $37,442. Price sensitivity is real. Build your model around volume or keep overhead minimal.

Data sources

U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits