Nursing Care Facilities Market: ZIP 55402
Opportunity Score
32
/ 100
Challenging
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55402 is an urban area. with a population of 760 and household incomes near the national median ($69,808).
Area Profile
760
Population
$69,808
Median Income
-6% vs. national
Urban
Area Type
Median Age: 29.7 —
young market, strong street food demand.
College-Educated: 47.2% —
strong appetite for artisan/specialty food.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$2,230
2BR Fair Market Rent
$1,650
Median Gross Rent
21
Bank Branches
$90 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.
Quick Facts
- Area Type
- Urban
- Bank Branches
- 21
vs. National Average
Median Income
-6% vs. $74,580
Nearby Markets
55401
0.6 mi
Pop: 11,526
$115,651
55415
0.9 mi
Pop: 6,474
$126,480
Walk: 15.7
55403
1.0 mi
Pop: 17,354
$59,928
Walk: 16.4
55404
1.2 mi
Pop: 28,071
$43,932
Walk: 15.7
55454
1.9 mi
Pop: 8,628
$26,429
55405
2.1 mi
Pop: 16,915
$70,425
Walk: 14.0
55413
2.4 mi
Pop: 14,328
$84,252
Walk: 16.5
55455
2.5 mi
Pop: 5,243
Walk: 14.7
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