55340 can be classified socioeconomically as Upper Middle Class class compared to other ZIP Codes in Minnesota based on Median Household Income and Average Adjusted Gross Income. The majority race/ethnicity residing in 55340 is White. The current unemployment level in 55340 is 4.9%.
| Population | 9,414 |
| Population Growth Rate | 18.80% |
| Population Density | 268 People per Square Mile |
| Total Households | 2,136 |
| Percentage High Income Households | 24.6% |
| Median Household Income (2021) | $166,953 |
| Average Adjusted Gross Income (2021) | $691,000 |
| Current Unemployment Rate (May 2026) | 4.9% |
| Sales Tax Rate (2025) | 9.0% |
| Majority Race/Ethnicty | White - 83.74% |
55340 Race/Ethnicty Breakdown
| Race/Ethnicty | Total | Percentage |
|---|
| White | 7,471 | 83.74% |
| Black | 236 | 2.65% |
| Hispanic | 73 | 0.82% |
| Asian | 1,142 | 12.8% |
| Native American | 0 | 0% |
| Hawaiian/Pac. Islander | 0 | 0% |
55340 Educational Attainment Levels
| Highest Education Level Attained | Total | Percentage |
|---|
| Less Than 1 Year of College | 254 | 6.38% |
| Bachelor Degree | 1,209 | 30.35% |
| High School Diploma | 962 | 24.15% |
| No High School Diploma | 100 | 2.51% |
| GED or Alternate | 39 | 0.98% |
| 1 or More Years of College | 650 | 16.32% |
| Associates Degree | 280 | 7.03% |
| Masters Degree | 294 | 7.38% |
| Professional Degree | 111 | 2.79% |
| Doctorate Degree | 85 | 2.13% |