Nursing Care Facilities Market: ZIP 55384
Opportunity Score
34
/ 100
Challenging
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55384 is an urban area. with a population of 1,869 and household incomes below the national median ($46,860).
Area Profile
1,869
Population
$46,860
Median Income
-37% vs. national
Urban
Area Type
Median Age: 58.2 —
older demographic, may prefer sit-down options.
College-Educated: 27.3% —
balanced market for quality & value.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,550
2BR Fair Market Rent
$1,223
Median Gross Rent
$600 K
Median Home Value
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
vs. National Average
Median Income
-37% vs. $74,580
Nearby Markets
55331
2.8 mi
Pop: 19,291
$160,029
Walk: 9.5
55364
3.2 mi
Pop: 13,959
$111,083
Walk: 8.6
55356
5.2 mi
Pop: 5,924
$171,333
55386
6.0 mi
Pop: 10,080
$191,279
Walk: 8.1
55391
6.3 mi
Pop: 15,469
$170,115
Walk: 9.9
55359
6.5 mi
Pop: 7,068
$129,508
55375
7.2 mi
Pop: 4,285
$136,250
55317
7.7 mi
Pop: 22,373
$133,573
Walk: 7.1
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