Nursing Care Facilities Market: ZIP 55111
Opportunity Score
4
/ 100
Challenging
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55111 is an urban area.
Area Profile
100
Population
Urban
Area Type
Median Age: 64.4 —
older demographic, may prefer sit-down options.
College-Educated: 60.0% —
strong appetite for artisan/specialty food.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,460
2BR Fair Market Rent
$930
Median Gross Rent
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.
Quick Facts
- Area Type
- Urban
Nearby Markets
55150
2.0 mi
Pop: 181
$108,750
Walk: 10.6
55116
2.0 mi
Pop: 26,099
$83,156
Walk: 14.2
55120
2.9 mi
Pop: 5,080
$111,900
Walk: 9.5
55450
3.0 mi
Pop: 0
Walk: 11.9
55417
3.3 mi
Pop: 25,677
$122,639
Walk: 14.1
55105
3.5 mi
Pop: 27,470
$108,200
Walk: 14.9
55121
3.7 mi
Pop: 9,329
$86,929
Walk: 10.3
55425
3.7 mi
Pop: 10,562
$68,517
Walk: 12.0
Check Another Market
Or estimate costs with the ElderCareCost calculator.
About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits