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Nursing Care Facilities Market: ZIP 55404

Opportunity Score

52 / 100 Fair

Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 55404 is an urban area with high foot traffic. with a population of 28,071 and household incomes below the national median ($43,932). There are 3 nursing care facilities operations in ZIP 55404.

Area Profile

28,071

Population

$43,932

Median Income

-41% vs. national

Urban

Area Type

15.7/20

Foot Traffic

Very Walkable

Median Age: 31.8 — mixed-age market, broad menu appeal.

College-Educated: 22.4% — value-focused market, keep prices competitive.

Competition

Nursing Care Facilities and related businesses in ZIP 55404.

Nursing Care Facilities

Low competition — room to establish

1.1 per 10K residents

Home Health Agencies

10.7 per 10K residents

What this means: Nursing Care Facilities are 9.1% of the relevant market in ZIP 55404 (3 vs. 30 related businesses). Moderate presence with proven demand and room for new operators.

Operating Costs

Local cost levels affect space, labor, and operating expenses.

$1,530

2BR Fair Market Rent

$1,063

Median Gross Rent

$290 K

Median Home Value

Bank Branches

$140 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.
Median income sits at $43,932. Price sensitivity is real. Build your model around volume or keep overhead minimal.