Nursing Care Facilities Market: ZIP 55378
Opportunity Score
83
/ 100
Excellent
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55378 is an urban area with low foot traffic. with a population of 32,072 and household incomes well above the national median ($122,237).
Area Profile
32,072
Population
$122,237
Median Income
+64% vs. national
Urban
Area Type
9.8/20
Foot Traffic
Very Car-Dependent
Median Age: 37.3 —
mixed-age market, broad menu appeal.
College-Educated: 34.4% —
balanced market for quality & value.
Competition
Nursing Care Facilities and related businesses in ZIP 55378.
7
Home Health Agencies
2.2 per 10K residents
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$2,030
2BR Fair Market Rent
$1,608
Median Gross Rent
$390 K
Median Home Value
6
Bank Branches
$440 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 $122,237. That gives you pricing room most markets don't offer. Don't underprice.
Quick Facts
- Area Type
- Urban
- Foot Traffic
- Very Car-Dependent
- Related Businesses
- 7
- Bank Branches
- 6
vs. National Average
Median Income
+64% vs. $74,580
Walkability
-0.7 pts vs. national avg
Nearby Markets
55438
4.7 mi
Pop: 15,847
$103,488
Walk: 7.2
55437
4.7 mi
Pop: 19,282
$98,120
Walk: 9.7
55306
5.4 mi
Pop: 16,191
$98,012
Walk: 6.2
55431
5.8 mi
Pop: 19,075
$103,125
Walk: 12.1
55372
6.3 mi
Pop: 34,617
$140,835
Walk: 8.8
55337
6.5 mi
Pop: 48,104
$81,641
Walk: 11.2
55439
7.9 mi
Pop: 9,475
$173,925
Walk: 7.7
55420
8.0 mi
Pop: 24,008
$77,539
Walk: 14.1
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