Nursing Care Facilities Market: ZIP 55406
Opportunity Score
81
/ 100
Excellent
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55406 is an urban area with high foot traffic. with a population of 35,863 and household incomes above the national median ($91,865).
Area Profile
35,863
Population
$91,865
Median Income
+23% vs. national
Urban
Area Type
15.4/20
Foot Traffic
Very Walkable
Median Age: 39.7 —
mixed-age market, broad menu appeal.
College-Educated: 43.1% —
strong appetite for artisan/specialty food.
Competition
Nursing Care Facilities and related businesses in ZIP 55406.
12
Home Health Agencies
3.3 per 10K residents
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,580
2BR Fair Market Rent
$1,276
Median Gross Rent
$340 K
Median Home Value
5
Bank Branches
$730 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.
Quick Facts
- Area Type
- Urban
- Foot Traffic
- Very Walkable
- Related Businesses
- 12
- Bank Branches
- 5
vs. National Average
Median Income
+23% vs. $74,580
Walkability
+4.9 pts vs. national avg
Nearby Markets
55407
2.2 mi
Pop: 36,992
$78,206
Walk: 14.5
55417
2.5 mi
Pop: 25,677
$122,639
Walk: 14.1
55114
2.6 mi
Pop: 4,655
$65,236
Walk: 15.1
55414
2.7 mi
Pop: 33,739
$47,004
Walk: 16.8
55455
2.7 mi
Pop: 5,243
Walk: 14.7
55454
2.9 mi
Pop: 8,628
$26,429
55404
3.2 mi
Pop: 28,071
$43,932
Walk: 15.7
55415
3.5 mi
Pop: 6,474
$126,480
Walk: 15.7
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