55387 Zip Code Population and Demographics

In this article, we'll explore the population statistics for the zip code 55387, including popular demographics data like median age, number of households, household income, gender, employment and unemployment rates, occupations, religion, and more.

55387 is a zip code in Carver County and Hennepin County, Minnesota, which covers Laketown, Waconia, Waconia, Watertown, and Minnetrista, with a total population of 14,157 people.

We are using the latest American Community Survey (ACS) 5-Year survey data from the US Census Bureau, which is accurate up to 2021.

Table of Contents

Population

There is a lot of data that lets us see how many people live in the 55387 zip code. The most basic data is the total population, which is the total number of people living in 55387.

The estimated population of people living in 55387 is 14,157, with a median age of 37.4.

We can look back at data from previous years to see how the population in the 55387 area has changed over the last 5 years.

Year Population Change 5-Year Change
2021
14,157
+4.86%
+6.94%
2020
13,501
 -0.08% -
2019
13,512
+1.26%
-
2018
13,344
+0.8%
-
2017
13,238
 - -

Population of 55387 by Race and Ethnicity

How much has the race and ethnicity of the population in the 55387 zip code changed? The US Census Bureau gives us a few defined types that the population is broken down into.

Let's look at the total numbers and also the change over the last 5 years.

Race 2021 2017 Change
White
93.4%
95%
 -1.68%
Black/African American
1.7%
0.8%
 +112.50%
Native
0%
0%
 0.00%
Hispanic
3.2%
2.1%
 +52.38%
Asian
0%
0.5%
 -100.00%
Hawaiian/Pacific Islander
0%
0%
 0.00%
Two Or More Races
1.6%
1.4%
 +14.29%
Other
0.1%
0.2%
 -50.00%

This data can be very important for anybody studying the 55387 zip for a number of reasons, including social and economic research, planning and development, and marketing to a multi-cultural population.

Note that the Native group includes both Native American and Alaskan Native people.

Population of 55387 by Age and Gender

We can also monitor the change of the age and gender in the 55387 zip code to track track trends in the population over time.

We can see how the population in 55387 has changed over the last 5 years by median age as a total, and also by male and female.

Year Total Male Female
2021 37.4 -1.32% 36.7 -1.34% 38.4 -0.78%
2020 37.9 -1.3% 37.2 +0.54% 38.7 -2.52%
2019 38.4 +1.05% 37 +0.27% 39.7 +2.06%
2018 38 0% 36.9 -0.27% 38.9 +0.52%
2017 38 - 37 - 38.7 -

The median age of the 55387 zip gives you an idea of the age distribution, with half of the population being older than the median age and half being younger.

This can then be used to infer and compare against birth rates, parent ages, and more metrics to understand the population. For example, an increasing median age indicates an aging population in the 55387 area, which can be a sign of a declining population in terms of birth rates and workforce participation.

Age 2021 2017
(Years) Male Female Male Female
0 to 9 840 +44.74% 1,094 -21.4% 1,281 858
10 to 19 1,389 -24.77% 1,053 +18.98% 1,063 1,208
20 to 29 475 +10.66% 510 -4.83% 514 438
30 to 39 826 +21.9% 891 +34.71% 1,016 1,235
40 to 49 1,007 +6.74% 1,092 -15.17% 1,067 914
50 to 59 962 +2.49% 881 +15.53% 981 1,019
60 to 69 381 +63.62% 432 +13.55% 678 493
70+ 563 -10.04% 842 +5.68% 506 886

Median Household Income

The latest median household income for the 55387 zip code is $96,210.00.

In simple terms, the median income is the middle income of a group of people. Half of the people in the group make more than the median income, and half make less.

The median income is a good indicator of the overall income of a group of people, and can be used to compare against other metrics such as the average income, per capita income, and more.

Median Income by Age

We can also look at the median income by age to see how the median income varies by age, and how it compares to the overall median income for 55387.

  • Under 25
    $0.00
  • 25 to 44
    $122,112.00
  • 45 to 64
    $123,415.00
  • 65 and over
    $53,821.00

Average Household Income

Whenever we ask what is the average household income in the 55387 zip code, we are actually talking about the mean household income.

This is calculated by adding up all the incomes of all the households in 55387, and then dividing that number by the total number of households.

This is a good way to get a general idea of the average income of a group of people, but it can be skewed by a very high or very low incomes.

The average household income of 55387 is currently $118,156.00.

In terms of accurately summarizing income at a geographic level, the median income is a better metric than the average income because it isn't affected by a small number of very high or very low incomes.

If you had an area where the average income was greater than the median, it can mean that there is significant income inequality, with income being concentrated in a small number of wealthy households.

15.76% of households in 55387 are classed as high income households (making $200,000+ per year).

Household Income Tiers

The US Census Bureau divides households into income tiers based on the median income for the area. This is a good way to compare the income of 55387 against other zip codes.

  • Less than $24,999
    10.36%
  • $25,000 to $49,999
    11.79%
  • $50,000 to $74,999
    14.96%
  • $75,000 to $99,999
    14.01%
  • $100,000 to $149,999
    16.30%
  • $150,000 to $199,999
    16.82%
  • $200,000 or more
    15.76%

Per Capita Income

The per capita income in 55387 is $44,755.00.

Per capita income is the average income of a person in a given area. It is calculated by dividing the total income of 55387 by the total population of 55387.

This is different from the average or mean income because it includes and accounts for all people living in the 55387 area, including people like children, the elderly, unemployed people, retired people, and more.

Education Levels

We can also look at the education levels in 55387 to see how many people have a high school degree, a bachelor's degree, or a graduate degree.

Educational attainment is a good indicator of the overall education level of a population, and can be used to compare against other metrics such as the average income, per capita income, and more to see how education levels affect income, unemployment rates, and more.

  • Master's degree or higher
    18.05%
  • Bachelor's degree
    51.37%
  • Some college or associate's degree
    7.62%
  • High school diploma or equivalent
    22.35%
  • Less than high school diploma
    0.62%

Employment

Employment rates are all based around the total population in 55387 that are over the age of 16.

Currently, the total population of the 55387 zip over the age of 16 is 10,489.

Of those people, a total of 72.80% are working or actively looking for work. This is called the labor force participation rate.

The participation rate is a useful market measure because it shows the relative amount of labor resources available to the economy.

The employment to total population rate in 55387 is 70.60%.

Employment by Age

We can look at the employment rates by age to see how it compares to the overall employment rate. Here's how that breaks down for the 55387 zip code.

Age Population Participation Unemployment Rate
16 to 19 years 742 55.50% 0.50%
20 to 24 years 500 76.40% 7.30%
25 to 29 years 452 96.70% 8.50%
30 to 34 years 1,095 94.40% 0.00%
35 to 44 years 2,098 94.40% 0.20%
45 to 54 years 2,084 91.60% 5.60%
55 to 59 years 955 68.90% 6.20%
60 to 64 years 561 74.50% 0.00%
65 to 74 years 1,052 36.80% 3.40%
75 years and over 950 2.30% 0.00%

Employment by Race

Another very interesting employment statistic we can look at is the employment and unemployment rates by race in 55387. The table below shows the rates for each of the ethnicity groups types defined by the US Census Bureau (which we mentioned earlier in this article).

Age Population Participation Unemployment Rate
White 9,938 72.90% 2.70%
Black or African American 213 61.00% 26.20%
American Indian and Alaska Native 0 0.00% 0.00%
Asian 0 0.00% 0.00%
Native Hawaiian and Other Pacific Islander 0 0.00% 0.00%
Other 104 51.90% 0.00%
Two or more races 234 89.70% 0.00%
Hispanic or Latino 357 58.80% 0.00%
Not Hispanic or Latino 9,739 73.10% 2.80%

Occupations

In this section we can look at the most common occupations for people living in the 55387 area as well as the gender breakdown and earnings of them.

The total population of civilian employees that are 16 years old or older in 55387 is 7,408, with median earnings of $60,407.00.

Women in 55387 are earning approximately 63.10% of the men's earnings.

Population Earnings
Total 7,408 $60,407.00
Male 3,993 $71,408.00
Female 3,415 $45,082.00

Occupations by Category

In the table below, we can break down the population and earnings for 55387 even further by occupation. The list of occupation categories below will show you how many people are employed in each category and the median earnings of each profession.

Occupation Employed Earnings
Management 1,145 $77,361.00
Business and Financial 537 $86,189.00
Computer and Mathematical 183 $93,664.00
Architecture and Engineering 185 $87,452.00
Life, Physical, and Social Science 80 $84,063.00
Community and Social Service 96 $63,393.00
Legal 69 $21,250.00
Educational and Library 612 $59,300.00
Arts, Design, Entertainment, Sports, and Media 194 $54,474.00
Healthcare Practitioners 546 $66,023.00
Healthcare Support 91 $35,865.00
Firefighters and Protective Service 0 $0.00
Law Enforcement 127 $76,016.00
Food Preparation and Serving 327 $4,761.00
Building and Grounds Cleaning 96 $57,500.00
Personal Care and Service 282 $17,059.00
Sales 1,143 $78,459.00
Office and Administrative Support 768 $46,389.00
Farming, Fishing, and Forestry 15 $2,499.00
Construction and Extraction 261 $56,979.00
Installation, Maintenance, and Repair 135 $61,382.00
Production 275 $46,928.00
Transportation and Material Moving 123 $20,156.00

Occupations by Gender

Now we can also look at the occupations by category for 55387 when it is broken down by male and female.

This lets us see how many male and females work in each occupation, the median earnings, and the male to female ratio of earnings for 55387.

That last metric is important because it can be used to look at the gender pay gap between men and women.

Occupation Male Female
Population Earnings Population Earnings
Management 735 $105,225.00 410 $44,808.00
Business and Financial 274 $105,500.00 263 $71,947.00
Computer and Mathematical 157 $93,491.00 26 $120,000.00
Architecture and Engineering 185 $87,452.00 0 $0.00
Life, Physical, and Social Science 11 $0.00 69 $83,490.00
Community and Social Service 41 $64,330.00 55 $61,595.00
Legal 7 $0.00 62 $12,396.00
Educational and Library 154 $67,292.00 458 $51,111.00
Arts, Design, Entertainment, Sports, and Media 121 $68,438.00 73 $43,576.00
Healthcare Practitioners 67 $152,679.00 479 $60,982.00
Healthcare Support 28 $0.00 63 $35,865.00
Firefighters and Protective Service 0 $0.00 0 $0.00
Law Enforcement 119 $75,781.00 8 $0.00
Food Preparation and Serving 126 $6,042.00 201 $3,324.00
Building and Grounds Cleaning 76 $57,857.00 20 $37,188.00
Personal Care and Service 96 $12,045.00 186 $17,885.00
Sales 814 $79,500.00 329 $51,875.00
Office and Administrative Support 150 $53,750.00 618 $42,578.00
Farming, Fishing, and Forestry 15 $2,499.00 0 $0.00
Construction and Extraction 261 $56,979.00 0 $0.00
Installation, Maintenance, and Repair 135 $61,382.00 0 $0.00
Production 218 $58,333.00 57 $21,250.00
Transportation and Material Moving 123 $20,156.00 0 $0.00

Households and Family Size

A household is defined by the US Census Bureau as a group of people who occupy a housing unit. A housing unit is a house, apartment, mobile home, group of rooms, or single room occupied as separate living quarters.

There are currently 5,166 households in 55387, with an average household size of 2.72 people.

A family is defined as a group of two or more people related by birth, marriage, or adoption who live together in the same household.

There are 3,836 families living in the 55387 zip code with an average family size of 3.17 people.

Households by Marital Status

The four categories of household by marital status are:

  • Married-couple family
  • Male householder with no spouse present
  • Female household with no spouse present
  • Nonfamily household

The table below shows the total number of households and families, with the average sizes of each, that live in 55387:

Married Male Female Nonfamily
Total Households 3,290 148 398 1,330
Average Household Size 3.34 2.9 2.78 1.16
Total Families 3,290 148 398 0
Average Household Size 3.27 2.9 2.48 0

Poverty

Of the 3,836 families living in 55387, 2.20% are considered to be below the poverty threshold.

The table below shows the latest poverty thresholds in 55387:

Household Size Poverty Threshold
1 Person $14,580.00
2 People $19,720.00
3 People $24,860.00
4 People $30,000.00
5 People $35,140.00
6 People $40,280.00
7 People $45,420.00
8 People $50,560.00

Housing

There are 5,312 housing units in 55387.

The table below shows the split between occupied and vacant units:

Total Percentage
Occupied 5,166 97.25%
Vacant 146 2.75%

17.90% of the total 5,312 housing units in 55387 are rental units. This is approximately 951 properties.

For owner-occupied housing units, a total of 4,215 are occupied by the owner - or 79.35% of the total.

Rental Rates

The median rent for a property in 55387 is $1,106.00.

In the chart below, we can look at the number of rental properties in 55387 that fall into a particular rent range. These can then be used to compare with other areas, or to see how they have changed over time.

  • No rent paid
    0
  • Less than $500
    178
  • $500 to $999
    200
  • $1,000 to $1,499
    321
  • $1,500 to $1,999
    192
  • $2,000 to $2,499
    30
  • $2,500 to $2,999
    15
  • $3,000 or more
    15

Property Value

The median value of a property in 55387 is $348,900.00.

Just like with rental rates, we can look at the number of properties in 55387 that fall into a particular value range.

  • Less than $50,000
    62
  • $50,000 to $99,999
    0
  • $100,000 to $149,999
    89
  • $150,000 to $199,999
    138
  • $200,000 to $299,999
    1,215
  • $300,000 to $499,999
    2,032
  • $500,000 to $999,999
    617
  • $1,000,000 or more
    62

Property Age

We can also look at the age of properties in 55387. The chart below shows the number of properties in 55387 that fall into a particular age range.

  • 1939 or earlier
    356
  • 1940 to 1949
    122
  • 1950 to 1959
    188
  • 1960 to 1969
    422
  • 1970 to 1979
    504
  • 1980 to 1989
    370
  • 1990 to 1999
    913
  • 2000 to 2009
    1,729
  • 2010 to 2013
    708
  • 2014 or later
    0

Vehicles per Household

The number of vehicles available per household can be a good indicator of the level of affluence in an area. The chart below shows the number of households in 55387 that have a particular number of vehicles available.

  • No vehicles available
    274
  • 1 vehicle available
    1,015
  • 2 vehicles available
    2,497
  • 3 or more vehicles available
    1,380

Commuting to Work

In this section, we can also look at how people in 55387 get to work. The chart below shows the number of people in 55387 that commute to work in a particular way.

26.3 minutes is the average travel time to work for people in 55387.

These commute times can be compared to other date like income and educational levels to see how they relate to each other and if there are any trends in the data that might suggest a correlation.

  • Less than 5 minutes
    336
  • 5 to 9 minutes
    927
  • 10 to 14 minutes
    597
  • 15 to 19 minutes
    474
  • 20 to 24 minutes
    786
  • 25 to 29 minutes
    341
  • 30 to 34 minutes
    708
  • 35 to 39 minutes
    511
  • 40 to 44 minutes
    329
  • 45 to 59 minutes
    768
  • 60 to 89 minutes
    246
  • 90 or more minutes
    135

Summary

We've covered a LOT of demographic and population data for 55387 in this article! Hopefully you have found it very useful in your research of the area.

If you use any of the data found on this page, please consider linking back to USPopulation.org as the source and if you have any feedback or data requests, click here to contact us.

States in 55387

If you want to see how the population and demographics of 55387 compare to other zip codes in Minnesota, check out the list of all Minnesota zip codes below: