Nursing Care Facilities Market: ZIP 55309
Opportunity Score
100
/ 100
Excellent
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55309 is an urban area. with a population of 21,406 and household incomes well above the national median ($118,387).
Area Profile
21,406
Population
$118,387
Median Income
+59% vs. national
Urban
Area Type
Median Age: 36.3 —
mixed-age market, broad menu appeal.
College-Educated: 19.6% —
value-focused market, keep prices competitive.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,710
2BR Fair Market Rent
$1,463
Median Gross Rent
$340 K
Median Home Value
3
Bank Branches
$130 K 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.
- The median income here is $118,387. That gives you pricing room most markets don't offer. Don't underprice.
Quick Facts
- Area Type
- Urban
- Bank Branches
- 3
vs. National Average
Median Income
+59% vs. $74,580
Nearby Markets
55308
7.5 mi
Pop: 9,788
$103,815
55362
9.6 mi
Pop: 20,125
$92,870
Walk: 7.7
55301
10.5 mi
Pop: 13,485
$131,157
55398
11.3 mi
Pop: 17,768
$105,063
Walk: 3.7
55330
11.9 mi
Pop: 45,080
$111,481
Walk: 6.2
55376
12.1 mi
Pop: 19,317
$130,917
Walk: 3.2
55313
16.3 mi
Pop: 24,862
$93,471
Walk: 9.9
55319
16.4 mi
Pop: 5,490
$111,343
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