Nursing Care Facilities Market: ZIP 55905
Opportunity Score
0
/ 100
Challenging
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 55905 is an urban area.
Area Profile
0
Population
Urban
Area Type
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,360
2BR Fair Market Rent
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
Nearby Markets
55901
2.5 mi
Pop: 58,260
$90,430
Walk: 7.6
55960
5.9 mi
Pop: 3,453
$122,120
55902
6.0 mi
Pop: 25,988
$111,879
Walk: 8.3
55903
6.5 mi
Pop: 0
55920
7.2 mi
Pop: 8,747
$126,102
Walk: 10.7
55906
8.7 mi
Pop: 20,080
$104,146
Walk: 9.7
55904
11.1 mi
Pop: 29,682
$76,434
Walk: 7.2
55963
13.2 mi
Pop: 5,473
$109,464
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