ElderCareCost
Showing results for ZIP 55947 (MN)
Home ZIP 84332

Nursing Care Facilities Market: ZIP 84332

Opportunity Score
73 / 100 Good
Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 84332 is an urban area with low foot traffic. with a population of 8,680 and household incomes well above the national median ($103,750).

Area Profile

8,680
Population
$103,750
Median Income
+39% vs. national
Urban
Area Type
7.8/20
Foot Traffic
Car-Dependent
Median Age: 33.9 — mixed-age market, broad menu appeal.
College-Educated: 27.0% — balanced market for quality & value.

Operating Costs

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

$1,510
2BR Fair Market Rent
$1,414
Median Gross Rent
$480 K
Median Home Value
3
Bank Branches
$220 K deposits

Tips for Starting a Elder Care Business in Utah

  • 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.
  • The median income here is $103,750. That gives you pricing room most markets don't offer. Don't underprice.

Data sources

U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits