ZIP Code 55016: Population, Income, Housing

State: MN
Total population: 40,695 Household income: $120,715 Rent: $1,790

Overview

Total population
40,695
Rent
$1,790
Year built
1990
Household income
$120,715
Per capita income
$49,566
Poverty rate
4.2%
Unemployment rate
N/A
Household size
2.8 persons
Rent over 30% of income
53.8%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Demographics

State
Minnesota
County
Washington County
Town
Cottage Grove
Total population
40,695
Adults over 25
26,748
Total households
14,283
Household size
2.8 persons

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Income & Poverty

Household income
$120,715
Per capita income
$49,566
Poverty rate
4.2%
Unemployment rate
N/A
Rent over 30% of income
53.8%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Housing

Rent
$1,790
Year built
1990
Households that rent
11.8%
Households that own
88.2%
Rooms per home (all homes)
7.1

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Race

White
74.2%
Black
6.6%
Asian
7.4%
Two or more races
9.1%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Ethnicity

Hispanic or Latino
7.7%
Not Hispanic or Latino
92.3%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Commute

Commute rate
17,132 (78.8%)
Commute time to work
24 mins
Work from home
4,615 (21.2%)

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Education

Less than high school
22.6%
High school graduate or GED
23.5%
Some college or associate degree
13%
Bachelor’s degree or higher
40.8%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

 

Comparison of ZIP Code 55016 with: Washington County, MN Minneapolis metro area, MN-WI Minnesota United States

ZIP 55016

Total population40,695
Rent$1,790
Year built1990
Household income$120,715
Per capita income$49,566
Poverty rate4.2%
Unemployment rateN/A

Washington County, MN

Total population276,238
Rent$1,710
Year built1992
Household income$115,345
Per capita income$56,954
Poverty rate5.1%
Unemployment rate2.1%

Minneapolis Metro Area, MN-WI

Total population3,713,668
Rent$1,440
Year built1981
Household income$99,833
Per capita income$52,840
Poverty rate8.2%
Unemployment rate2.9%

Minnesota State

Total population5,739,445
Rent$1,280
Year built1979
Household income$89,062
Per capita income$48,237
Poverty rate9.3%
Unemployment rate3%

United States

Total population334,922,499
Rent$1,413
Year built1980
Household income$80,734
Per capita income$44,673
Poverty rate12.5%
Unemployment rate4%
Metric ZIP55016 CountyWashington, MNMetro AreaMinneapolis metro area, MN-WIStateMinnesotaCountryUnited States
Total population40,695276,2383,713,6685,739,445334,922,499
Rent$1,790$1,710$1,440$1,280$1,413
Year built19901992198119791980
Household income$120,715$115,345$99,833$89,062$80,734
Per capita income$49,566$56,954$52,840$48,237$44,673
Poverty rate4.2%5.1%8.2%9.3%12.5%
Unemployment rateN/A2.1%2.9%3%4%

View the full multi-level comparison →

 

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Summary for 55016

Rent & Income

In 55016, the typical monthly rent is $1,790 and the typical household income is $120,715. Rent here is higher than Minnesota, and household income is higher than Minnesota. The estimated poverty rate is 4.2%.

Housing & Affordability

This ZIP Code is primarily owner-occupied, with renters accounting for about 11.8% of households. About 53.8% of renters spend more than 30% of their income on housing, indicating high cost burden.

Education & Employment

Educational attainment is high, with about 40.8% of adults holding a bachelor’s degree or higher.

 

ZIP 55016 — Rent vs Household Income

 

 

ZIP 55016 — Poverty

 

 

How ZIP 55016 compares in Minnesota (50 ZIP Codes)

Metric This ZIP Rank Starts from State range
Rent $1,790 44 / 50 from lower rent $883 – $2,001
Household income $120,715 11 / 50 from higher income $51,966 – $155,430
Poverty rate 4.2% 10 / 50 from lower poverty 2.5% – 36.4%

Rankings are calculated among ZIP Codes in Minnesota with total population > 30,000 (year 2024).

 

Detailed Ranking Explanation for ZIP Code 55016

Rent

In terms of rental prices, this ZIP stands 44th out of 50 ZIP Codes in Minnesota. Across Minnesota, figures vary from $883 in ZIP 56401 up to $2,001 in ZIP 55347.

Household income

When comparing household incomes, ZIP Code 55016 stands 11th out of 50 ZIP Codes. Throughout Minnesota, numbers span from $51,966 in ZIP 55414 up to $155,430 in ZIP 55347.

Poverty rate

Looking at poverty indicators, this ZIP stands 10th out of 50 ZIP Codes. At the state level, values extend from 2.5% in ZIP 55347 up to 36.4% in ZIP 55414.

 

💰 Rent in ZIP Code 55016 (with Utilities)

Estimated Monthly Rent: $1,790 ℹ️ What’s Included:
✅ Base rent, electricity, gas, water/sewer, and heating fuels
❌ Not included: internet, cable TV, renter's insurance, parking

💡 What does this rent estimate mean?

Explanation: This estimate shows what renters typically pay each month for housing — including the apartment or home and essential utilities like heat, water, and electricity.

Included in this number: Rent plus electricity, gas, water/sewer, and heating fuel.

Not included: Internet, cable, parking, renter’s insurance, or furniture rental.

Note: This cost does not depend on the number of people living in the home.

👨‍👧‍👦 Household Income in ZIP Code 55016

Annual Household Income: $120,715

💡 What does Household Income mean?

Definition: This represents the middle value of all household incomes in the ZIP code — half of households earn less, and half earn more.

Includes: wages, salaries, self-employment income, Social Security, pensions, investments, unemployment, public assistance, and rental income.

Does NOT include: capital gains, non-cash benefits (like food stamps), or tax refunds.

Household = any group of people (or a single person) living in the same housing unit.

Example: A couple earning $40,000 and $30,000 together have a household income of $70,000. If that's in the middle of all local incomes, it's the value shown here.

📉 Poverty Rate in ZIP Code 55016

Estimated Rate: 4.2%

💡 What does the Poverty Rate represent?

Definition: The percentage of people in this area living below the federal poverty threshold.

How it works: The threshold is a dollar amount set by the U.S. Census Bureau that varies by family size and age. If a household's income is below that level, everyone in it is included in this rate.

Example: In a town of 10,000 people, if 1,500 have incomes below the poverty line, the poverty rate is 15%.

Note: This statistic only includes people living in households; it does not count those in student housing, military barracks, or nursing homes.

🏘️ Renter vs. Owner Households in ZIP Code 55016

In ZIP Code 55016, households that rent: 1,685 (11.8%)

📊 What does the renter household percentage reveal about this ZIP Code?
Household Type Count Share
Renter-Occupied 1,685 11.8%
Owner-Occupied 12,598 88.2%

Definition: This is the percentage of households that rent their home rather than own it. It includes only occupied housing units.

Why it matters: Areas with a high share of renter households often have younger populations, higher mobility, and different housing needs compared to mostly owner-occupied areas.

Example: If 65% of homes in an area are renter-occupied, it means 65 out of every 100 households rent their home.

📉 Renters Spending Over 30% of Income on Rent in ZIP Code 55016

In ZIP Code 55016, cost-burdened renters (households spending over 30% of income on housing): 907 (53.8%)

🏚️ What Does It Mean When Renters Spend Over 30% of Their Income on Housing?
Household Group Households Share
Cost-burdened renters (over 30%) 907 53.8%
Other renter households 778 46.2%
Total renter households 1,685 100%

Shares are calculated as a percentage of renter households.

This shows how many renters in the ZIP code are considered cost-burdened — meaning they spend more than 30% of their income on housing (rent and basic utilities).

It’s a sign that housing might be unaffordable in the area or that lower-income residents may be struggling with rent.

Data comes from the U.S. Census Bureau’s American Community Survey.

📊 Education Levels in ZIP Code 55016

Less than High School: 6,046 people (22.6%)

Includes adults who did not complete high school.

High School Graduate or GED: 6,299 people (23.5%)

Includes adults whose highest education is a high school diploma or GED.

Some College or Associate Degree: 3,482 people (13%)

Includes adults who attended college without completing a bachelor’s degree (some college or associate degree).

Bachelor’s Degree or Higher: 10,921 people (40.8%)

Includes adults with a bachelor’s degree or higher (bachelor’s, master’s, professional, or doctoral degree).

👥 Total Adults (25+): 26,748

ℹ️ Have questions about how these statistics are calculated? See our data methodology & FAQs

 

Source: ACS 5-Year Estimates (U.S. Census Bureau) — unemployment rate from BLS. Some values are derived metrics.