55024 Zip Code

April 23, 2024

Zip Code:	55024
City/Town:	Farmington
State:	Minnesota

Population:	32,406
Per Capita Income:	$26,959
Mean Household Income:	$79,610

Total Housing Units:	10,878
Median Home Value:	$151,900
Median Year Homes Built:	1990

Land Area:	89.0 sq miles 230.6 sq kilometers
Water Area:	1.2 sq miles 3.1 sq kilometers

Population Information (55024 zip code)

Number/Percent/U.S. Avg

Percent

U.S. Avg

Total Population:

32,406

Male:

16,288

50.3%

49.2%

Female:

16,118

49.7%

50.8%

Median Age:

32.2 yrs

37.2 yrs

Under 5 years:

3,114

9.6%

6.5%

5 to 9 years:

3,191

6.6%

10 to 19 years:

4,961

15.3%

13.8%

20 to 29 years:

3,690

11.4%

13.8%

30 to 39 years:

5,934

18.3%

13.0%

40 to 49 years:

5,672

17.5%

14.2%

50 to 59 years:

3,102

9.6%

13.6%

60 to 69 years:

1,639

5.1%

9.4%

70 to 79 years:

742

2.3%

5.4%

80 years and over:

361

1.1%

3.7%

Housing Information (55024 zip code)

Number/Percent/U.S. Avg

Percent

U.S. Avg

Median home value:

$151,900

$119,600

Median year homes build:

1990

1971

Median real estate taxes:

$1,641 / yr.

$1,334 / yr.

Median rent:

$549 / mo.

$519 / mo.

Total households:

10,878

Family households:

8,453

77.7%

66.4%

Nonfamily households:

2,425

22.3%

33.6%

Households with individuals under 18 years:

5,485

50.4%

33.4%

Households with individuals 65 years and over:

1,227

11.3%

24.9%

Average household size:

3.0

Average family size:

3.4

Total housing units:

11,364

Occupied housing units:

10,878

95.7%

88.6%

Vacant housing units:

486

4.3%

11.4%

For rent:

0.8%

3.1%

Rented, not occupied:

0.1%

0.2%

For sale only:

217

1.9%

1.4%

Sold, not occupied:

0.3%

For seasonal, recreational, or occasional use:

0.2%

3.5%

All other vacants:

114

1.0%

2.8%

Homeowner vacancy rate:

2.2%

2.4%

Rental vacancy rate:

6.7%

9.2%

Owner-occupied housing units:

9,670

Population in owner-occupied housing units:

28,993

Average household size of owner-occupied units:

3.0

2.65

Renter-occupied housing units:

1,208

Population in renter-occupied housing units:

3,193

Average household size of renter-occupied units:

2.6

2.44

Educational Attainment (55024 zip code)

Number/Percent/U.S. Avg

Percent

U.S. Avg

Population 25 years and over

12,638

Less than 9th grade:

371

2.9%

6.2%

9th to 12th grade, no diploma:

761

6.0%

8.7%

High school graduate (includes equivalency):

3,359

26.6%

29.0%

Some college, no degree:

3,858

30.5%

20.6%

Associate degree:

1,366

10.8%

7.5%

Bachelor's degree:

2,442

19.3%

17.6%

Graduate or professional degree:

481

3.8%

10.3%

Percent high school graduate or higher:

91.0%

85.0%

Percent bachelor's degree or higher:

23.1%

27.9%

Income Information (55024 zip code)

Number/Percent/U.S. Avg

Percent

U.S. Avg

Mean household income:

$0 / yr.

$70,883

Per capita income:

$0 / yr.

$27,334

Males 15 years and over with income:

7,370

22.7%

50.4%

Median income:

$40,214 / yr.

$27,932 / yr.

Full-time, year-round workers:

5,695

17.6%

59.7%

Median income:

$43,148 / yr.

$38,349 / yr.

Females 15 years and over with income:

6,474

20.0%

49.6%

Median income:

$22,621 / yr.

$16,327 / yr.

Full-time, year-round workers:

3,167

9.8%

40.3%

Median income:

$30,666 / yr.

$28,135 / yr.

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