Nursing Care Facilities Market: ZIP 55422
Opportunity Score
64
/ 100
Good
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55422 is an urban area with moderate foot traffic. with a population of 28,765 and household incomes above the national median ($91,173). There are 6 nursing care facilities operations in ZIP 55422.
Area Profile
28,765
Population
$91,173
Median Income
+22% vs. national
Urban
Area Type
12.8/20
Foot Traffic
Walkable
Median Age: 38.9 —
mixed-age market, broad menu appeal.
College-Educated: 33.4% —
balanced market for quality & value.
Competition
Nursing Care Facilities and related businesses in ZIP 55422.
6
Nursing Care Facilities
Moderate — proven market
2.1 per 10K residents
11
Home Health Agencies
3.8 per 10K residents
What this means:
Nursing Care Facilities are 35.3% of the relevant market in ZIP 55422 (6 vs. 11 related businesses).
Well-established market — differentiation is non-negotiable.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,750
2BR Fair Market Rent
$1,576
Median Gross Rent
$310 K
Median Home Value
5
Bank Branches
$450 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
- Walkable
- Nursing Care Facilities
- 6
- Related Businesses
- 11
- Bank Branches
- 5
vs. National Average
Median Income
+22% vs. $74,580
Walkability
+2.3 pts vs. national avg
Nearby Markets
55427
2.8 mi
Pop: 24,667
$92,013
Walk: 13.2
55412
2.9 mi
Pop: 26,182
$71,905
Walk: 13.2
55411
3.0 mi
Pop: 29,719
$53,368
Walk: 14.0
55405
3.7 mi
Pop: 16,915
$70,425
Walk: 14.0
55429
3.8 mi
Pop: 27,570
$66,661
Walk: 12.6
55416
4.1 mi
Pop: 34,905
$105,926
Walk: 15.0
55426
4.6 mi
Pop: 25,451
$96,887
Walk: 13.5
55430
4.7 mi
Pop: 22,569
$77,385
Walk: 14.3
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