55388 Zip Code Population and Demographics

In this article, we'll explore the population statistics for the zip code 55388, including popular demographics data like median age, number of households, household income, gender, employment and unemployment rates, occupations, religion, and more.

55388 is a zip code in Carver County, Hennepin County, and Wright County, Minnesota, which covers Hollywood, Watertown, Watertown, Minnetrista, Franklin, and Woodland, with a total population of 6,098 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 55388 zip code. The most basic data is the total population, which is the total number of people living in 55388.

The estimated population of people living in 55388 is 6,098, with a median age of 36.1.

We can look back at data from previous years to see how the population in the 55388 area has changed over the last 5 years.

Year Population Change 5-Year Change
2021
6,098
+2.4%
+3.94%
2020
5,955
 -0.33% -
2019
5,975
+2%
-
2018
5,858
 -0.15% -
2017
5,867
 - -

Population of 55388 by Race and Ethnicity

How much has the race and ethnicity of the population in the 55388 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
94.9%
96%
 -1.15%
Black/African American
0.1%
0%
 0.00%
Native
0.2%
0.6%
 -66.67%
Hispanic
3.5%
1.8%
 +94.44%
Asian
0%
0.6%
 -100.00%
Hawaiian/Pacific Islander
0%
0%
 0.00%
Two Or More Races
1.3%
0.9%
 +44.44%
Other
0%
0%
 0.00%

This data can be very important for anybody studying the 55388 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 55388 by Age and Gender

We can also monitor the change of the age and gender in the 55388 zip code to track track trends in the population over time.

We can see how the population in 55388 has changed over the last 5 years by median age as a total, and also by male and female.

Year Total Male Female
2021 36.1 -5% 36.6 0% 35.1 -10%
2020 38 -0.78% 36.6 -0.81% 39 -0.51%
2019 38.3 -0.78% 36.9 +0.27% 39.2 -1.01%
2018 38.6 +2.12% 36.8 +0.27% 39.6 +2.33%
2017 37.8 - 36.7 - 38.7 -

The median age of the 55388 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 55388 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 9 642 -9.4% 484 +19.23% 581 580
10 to 19 252 +25.7% 343 -22.01% 313 266
20 to 29 270 +54.3% 374 +66.46% 413 546
30 to 39 470 -36% 475 -30.67% 312 340
40 to 49 328 +27.99% 297 3.3% 419 296
50 to 59 425 +16.51% 357 +30.91% 491 470
60 to 69 312 +31.81% 325 -0.36% 413 321
70+ 148 -0.83% 365 -53.03% 132 205

Median Household Income

The latest median household income for the 55388 zip code is $93,145.00.

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 55388.

  • Under 25
    $67,661.00
  • 25 to 44
    $89,638.00
  • 45 to 64
    $129,306.00
  • 65 and over
    $51,786.00

Average Household Income

Whenever we ask what is the average household income in the 55388 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 55388, 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 55388 is currently $105,406.00.

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.

5.30% of households in 55388 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 55388 against other zip codes.

  • Less than $24,999
    5.44%
  • $25,000 to $49,999
    13.23%
  • $50,000 to $74,999
    16.32%
  • $75,000 to $99,999
    21.29%
  • $100,000 to $149,999
    23.73%
  • $150,000 to $199,999
    14.68%
  • $200,000 or more
    5.30%

Per Capita Income

The per capita income in 55388 is $37,256.00.

Per capita income is the average income of a person in a given area. It is calculated by dividing the total income of 55388 by the total population of 55388.

This is different from the average or mean income because it includes and accounts for all people living in the 55388 area, including people like children, the elderly, unemployed people, retired people, and more.

Education Levels

We can also look at the education levels in 55388 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
    9.57%
  • Bachelor's degree
    27.73%
  • Some college or associate's degree
    11.95%
  • High school diploma or equivalent
    48.13%
  • Less than high school diploma
    2.61%

Employment

Employment rates are all based around the total population in 55388 that are over the age of 16.

Currently, the total population of the 55388 zip over the age of 16 is 4,594.

Of those people, a total of 77.00% 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 55388 is 75.80%.

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 55388 zip code.

Age Population Participation Unemployment Rate
16 to 19 years 236 46.60% 7.30%
20 to 24 years 520 81.90% 0.70%
25 to 29 years 439 85.00% 1.30%
30 to 34 years 255 94.90% 0.00%
35 to 44 years 732 85.50% 0.00%
45 to 54 years 829 98.70% 0.60%
55 to 59 years 512 84.00% 4.70%
60 to 64 years 465 74.80% 1.40%
65 to 74 years 413 34.60% 0.00%
75 years and over 193 11.40% 0.00%

Employment by Race

Another very interesting employment statistic we can look at is the employment and unemployment rates by race in 55388. 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 4,407 76.20% 1.40%
Black or African American 3 100.00% 0.00%
American Indian and Alaska Native 13 100.00% 0.00%
Asian 0 0.00% 0.00%
Native Hawaiian and Other Pacific Islander 0 0.00% 0.00%
Other 0 0.00% 0.00%
Two or more races 171 97.10% 0.00%
Hispanic or Latino 154 100.00% 0.00%
Not Hispanic or Latino 4,350 75.80% 1.40%

Occupations

In this section we can look at the most common occupations for people living in the 55388 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 55388 is 3,480, with median earnings of $48,803.00.

Women in 55388 are earning approximately 65.00% of the men's earnings.

Population Earnings
Total 3,480 $48,803.00
Male 1,829 $57,625.00
Female 1,651 $37,471.00

Occupations by Category

In the table below, we can break down the population and earnings for 55388 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 286 $76,009.00
Business and Financial 222 $66,023.00
Computer and Mathematical 61 $109,750.00
Architecture and Engineering 117 $84,003.00
Life, Physical, and Social Science 59 $26,472.00
Community and Social Service 41 $54,375.00
Legal 9 $0.00
Educational and Library 105 $45,774.00
Arts, Design, Entertainment, Sports, and Media 48 $93,500.00
Healthcare Practitioners 247 $41,575.00
Healthcare Support 138 $22,750.00
Firefighters and Protective Service 12 $0.00
Law Enforcement 0 $0.00
Food Preparation and Serving 203 $25,424.00
Building and Grounds Cleaning 143 $25,536.00
Personal Care and Service 118 $9,643.00
Sales 528 $73,382.00
Office and Administrative Support 234 $46,053.00
Farming, Fishing, and Forestry 21 $0.00
Construction and Extraction 294 $53,793.00
Installation, Maintenance, and Repair 188 $44,792.00
Production 252 $58,750.00
Transportation and Material Moving 75 $14,698.00

Occupations by Gender

Now we can also look at the occupations by category for 55388 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 55388.

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 157 $106,875.00 129 $75,680.00
Business and Financial 57 $100,223.00 165 $57,188.00
Computer and Mathematical 33 $77,750.00 28 $111,522.00
Architecture and Engineering 117 $84,003.00 0 $0.00
Life, Physical, and Social Science 11 $0.00 48 $0.00
Community and Social Service 16 $0.00 25 $0.00
Legal 5 $0.00 4 $0.00
Educational and Library 16 $0.00 89 $44,803.00
Arts, Design, Entertainment, Sports, and Media 6 $8,750.00 42 $0.00
Healthcare Practitioners 21 $0.00 226 $41,818.00
Healthcare Support 9 $0.00 129 $23,875.00
Firefighters and Protective Service 0 $0.00 12 $0.00
Law Enforcement 0 $0.00 0 $0.00
Food Preparation and Serving 33 $10,972.00 170 $25,764.00
Building and Grounds Cleaning 100 $38,036.00 43 $9,213.00
Personal Care and Service 23 $0.00 95 $9,345.00
Sales 373 $77,011.00 155 $29,191.00
Office and Administrative Support 39 $48,352.00 195 $45,066.00
Farming, Fishing, and Forestry 21 $0.00 0 $0.00
Construction and Extraction 284 $53,793.00 10 $0.00
Installation, Maintenance, and Repair 157 $70,875.00 31 $0.00
Production 221 $61,875.00 31 $2,499.00
Transportation and Material Moving 75 $14,698.00 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 2,132 households in 55388, with an average household size of 2.84 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 1,672 families living in the 55388 zip code with an average family size of 3.07 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 55388:

Married Male Female Nonfamily
Total Households 1,389 115 168 460
Average Household Size 3.04 5.3 2.95 1.56
Total Families 1,389 115 168 0
Average Household Size 3.04 3.88 2.7 0

Poverty

Of the 1,672 families living in 55388, 6.60% are considered to be below the poverty threshold.

The table below shows the latest poverty thresholds in 55388:

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 2,295 housing units in 55388.

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

Total Percentage
Occupied 2,132 92.90%
Vacant 163 7.10%

12.07% of the total 2,295 housing units in 55388 are rental units. This is approximately 277 properties.

For owner-occupied housing units, a total of 1,847 are occupied by the owner - or 80.48% of the total.

Rental Rates

The median rent for a property in 55388 is $859.00.

In the chart below, we can look at the number of rental properties in 55388 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
    8
  • Less than $500
    71
  • $500 to $999
    106
  • $1,000 to $1,499
    80
  • $1,500 to $1,999
    15
  • $2,000 to $2,499
    5
  • $2,500 to $2,999
    0
  • $3,000 or more
    0

Property Value

The median value of a property in 55388 is $266,700.00.

Just like with rental rates, we can look at the number of properties in 55388 that fall into a particular value range.

  • Less than $50,000
    91
  • $50,000 to $99,999
    83
  • $100,000 to $149,999
    116
  • $150,000 to $199,999
    220
  • $200,000 to $299,999
    695
  • $300,000 to $499,999
    483
  • $500,000 to $999,999
    135
  • $1,000,000 or more
    24

Property Age

We can also look at the age of properties in 55388. The chart below shows the number of properties in 55388 that fall into a particular age range.

  • 1939 or earlier
    519
  • 1940 to 1949
    43
  • 1950 to 1959
    178
  • 1960 to 1969
    114
  • 1970 to 1979
    252
  • 1980 to 1989
    297
  • 1990 to 1999
    311
  • 2000 to 2009
    508
  • 2010 to 2013
    73
  • 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 55388 that have a particular number of vehicles available.

  • No vehicles available
    38
  • 1 vehicle available
    262
  • 2 vehicles available
    1,035
  • 3 or more vehicles available
    797

Commuting to Work

In this section, we can also look at how people in 55388 get to work. The chart below shows the number of people in 55388 that commute to work in a particular way.

29.7 minutes is the average travel time to work for people in 55388.

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
    122
  • 5 to 9 minutes
    226
  • 10 to 14 minutes
    147
  • 15 to 19 minutes
    436
  • 20 to 24 minutes
    321
  • 25 to 29 minutes
    251
  • 30 to 34 minutes
    309
  • 35 to 39 minutes
    141
  • 40 to 44 minutes
    377
  • 45 to 59 minutes
    378
  • 60 to 89 minutes
    180
  • 90 or more minutes
    58

Summary

We've covered a LOT of demographic and population data for 55388 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 55388

If you want to see how the population and demographics of 55388 compare to other zip codes in Minnesota, check out the list of all Minnesota zip codes below: