Nursing Care Facilities Market: ZIP 55407
Opportunity Score
75
/ 100
Good
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55407 is an urban area with moderate foot traffic. with a population of 36,992 and household incomes above the national median ($78,206).
Area Profile
36,992
Population
$78,206
Median Income
+5% vs. national
Urban
Area Type
14.5/20
Foot Traffic
Very Car-Dependent
Median Age: 34.3 —
mixed-age market, broad menu appeal.
College-Educated: 33.5% —
balanced market for quality & value.
Competition
Nursing Care Facilities and related businesses in ZIP 55407.
28
Home Health Agencies
7.6 per 10K residents
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,470
2BR Fair Market Rent
$1,219
Median Gross Rent
$320 K
Median Home Value
4
Bank Branches
$350 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 Car-Dependent
- Related Businesses
- 28
- Bank Branches
- 4
vs. National Average
Median Income
+5% vs. $74,580
Walkability
+4.0 pts vs. national avg
Nearby Markets
55404
1.9 mi
Pop: 28,071
$43,932
Walk: 15.7
55409
2.0 mi
Pop: 11,405
$98,056
Walk: 14.6
55406
2.2 mi
Pop: 35,863
$91,865
Walk: 15.4
55417
2.3 mi
Pop: 25,677
$122,639
Walk: 14.1
55454
2.7 mi
Pop: 8,628
$26,429
55415
2.8 mi
Pop: 6,474
$126,480
Walk: 15.7
55408
2.9 mi
Pop: 32,534
$72,421
Walk: 15.6
55455
3.0 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