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Nursing Care Facilities Market: ZIP 55024

Opportunity Score

79 / 100 Good

Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 55024 is an urban area with low foot traffic. with a population of 36,681 and household incomes well above the national median ($123,582).

36,681

Population

$123,582

Median Income

+66% vs. national

Urban

Area Type

7.3/20

Foot Traffic

Car-Dependent

Median Age: 36.2 — mixed-age market, broad menu appeal.

College-Educated: 23.8% — value-focused market, keep prices competitive.

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

$1,730

2BR Fair Market Rent

$1,427

Median Gross Rent

$350 K

Median Home Value

Bank Branches

$250 K deposits

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.
The median income here is $123,582. That gives you pricing room most markets don't offer. Don't underprice.