55427 Zip Code

April 20, 2024

Zip Code:	55427
City/Town:	New Hope
State:	Minnesota

Population:	22,919
Per Capita Income:	$33,494
Mean Household Income:	$76,314

Total Housing Units:	9,750
Median Home Value:	$138,100
Median Year Homes Built:	1966

Land Area:	7.2 sq miles 18.6 sq kilometers
Water Area:	0.1 sq miles 0.2 sq kilometers

Population Information (55427 zip code)

Number/Percent/U.S. Avg

Percent

U.S. Avg

Total Population:

22,919

Male:

11,084

48.4%

49.2%

Female:

11,835

51.6%

50.8%

Median Age:

40.5 yrs

37.2 yrs

Under 5 years:

1,445

6.3%

6.5%

5 to 9 years:

1,293

5.3%

6.6%

10 to 19 years:

2,549

11.1%

13.8%

20 to 29 years:

2,951

12.9%

13.8%

30 to 39 years:

3,064

13.4%

13.0%

40 to 49 years:

3,440

15.0%

14.2%

50 to 59 years:

3,165

13.8%

13.6%

60 to 69 years:

2,284

10.0%

9.4%

70 to 79 years:

1,654

7.2%

5.4%

80 years and over:

1,074

4.7%

3.7%

Housing Information (55427 zip code)

Number/Percent/U.S. Avg

Percent

U.S. Avg

Median home value:

$138,100

$119,600

Median year homes build:

1966

1971

Median real estate taxes:

$1,715 / yr.

$1,334 / yr.

Median rent:

$655 / mo.

$519 / mo.

Total households:

9,750

Family households:

6,075

62.3%

66.4%

Nonfamily households:

3,675

37.7%

33.6%

Households with individuals under 18 years:

2,707

27.8%

33.4%

Households with individuals 65 years and over:

2,538

26.0%

24.9%

Average household size:

2.3

Average family size:

2.9

Total housing units:

10,237

Occupied housing units:

9,750

95.2%

88.6%

Vacant housing units:

487

4.8%

11.4%

For rent:

210

2.1%

3.1%

Rented, not occupied:

0.2%

For sale only:

116

1.1%

1.4%

Sold, not occupied:

0.2%

0.3%

For seasonal, recreational, or occasional use:

0.3%

3.5%

All other vacants:

0.8%

2.8%

Homeowner vacancy rate:

1.6%

2.4%

Rental vacancy rate:

7.0%

9.2%

Owner-occupied housing units:

6,994

Population in owner-occupied housing units:

16,934

Average household size of owner-occupied units:

2.4

2.65

Renter-occupied housing units:

2,756

Population in renter-occupied housing units:

5,609

Average household size of renter-occupied units:

2.0

2.44

Educational Attainment (55427 zip code)

Number/Percent/U.S. Avg

Percent

U.S. Avg

Population 25 years and over

16,622

Less than 9th grade:

301

1.8%

6.2%

9th to 12th grade, no diploma:

883

5.3%

8.7%

High school graduate (includes equivalency):

4,000

24.1%

29.0%

Some college, no degree:

4,045

24.3%

20.6%

Associate degree:

1,444

8.7%

7.5%

Bachelor's degree:

4,396

26.4%

17.6%

Graduate or professional degree:

1,553

9.3%

10.3%

Percent high school graduate or higher:

92.9%

85.0%

Percent bachelor's degree or higher:

35.8%

27.9%

Income Information (55427 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:

8,718

38.0%

50.4%

Median income:

$37,494 / yr.

$27,932 / yr.

Full-time, year-round workers:

5,319

23.2%

59.7%

Median income:

$45,369 / yr.

$38,349 / yr.

Females 15 years and over with income:

9,239

40.3%

49.6%

Median income:

$22,815 / yr.

$16,327 / yr.

Full-time, year-round workers:

4,087

17.8%

40.3%

Median income:

$32,089 / yr.

$28,135 / yr.

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