Home › ZIP 55102

Nursing Care Facilities Market: ZIP 55102

Opportunity Score

61 / 100 Good

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

Market Summary

ZIP 55102 is an urban area with high foot traffic. with a population of 19,565 and household incomes near the national median ($74,143). There are 3 nursing care facilities operations in ZIP 55102.

Area Profile

19,565

Population

$74,143

Median Income

-1% vs. national

Urban

Area Type

16.7/20

Foot Traffic

Very Walkable

Median Age: 39.4 — mixed-age market, broad menu appeal.

College-Educated: 45.4% — strong appetite for artisan/specialty food.

Competition

Nursing Care Facilities and related businesses in ZIP 55102.

Nursing Care Facilities

Low competition — room to establish

1.5 per 10K residents

Operating Costs

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

$1,770

2BR Fair Market Rent

$1,295

Median Gross Rent

$280 K

Median Home Value

Bank Branches

$1.5 M deposits

Tips for Starting a Elder Care Business in Minnesota

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.