55020 ZIP Code – Elko New Market, Minnesota
55020 is a small ZIP code in Elko New Market, Minnesota, part of Scott County with a population of approximately 4,319 residents. The median household income is $140,417 — well above the Minnesota average and well above the national average. The median home value of $423,100 is well above the national average, with 99.0% owner-occupied housing (increasing). Housing consists of 99% single-family (decreasing).
The area reports an unemployment rate of 1.3%, well below the national average. An estimated 3.2% of the population falls below the poverty line, well below the national figure. About 37.9% of residents have completed a four-year degree, above the national rate. At 34.1, the median age is below the national figure. Neighboring ZIP codes include 55054, 55088, 55044.
ZIP Code 55020 Data
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ZIP 55020 vs. Minnesota vs. U.S.
| Metric | ZIP 55020 | MN Avg. | U.S. Avg. |
|---|---|---|---|
| Population | 4,319 | 6,531 | 10k |
| Median Household Income | $140k | $77k | $73k |
| Median Home Value | $423k | $223k | $258k |
| Median Rent | — | $954 | $1,088 |
| Median Age | 34.1 | 43.2 | 43.2 |
| Unemployment Rate | 1.3% | 4.0% | 5.0% |
| Poverty Rate | 3.2% | 9.9% | 13.3% |
| Bachelor's Degree or Higher | 37.9% | 26.4% | 26.9% |
Demographics Charts
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Education Level (adults 25+)
Nearby ZIP Codes
- 55054 – Elko New Market
- 55088 – Webster
- 55044 – Lakeville
- 55372 – Prior Lake
- 55046 – Lonsdale
- 56071 – New Prague
- 55306 – Burnsville
- 55352 – Jordan
- 55057 – Northfield
- 55024 – Farmington
Nearby ZIP Code Comparison
| ZIP Code | City | Population | Median Income |
|---|---|---|---|
| 55054 | ELKO NEW MARKET | 2,635 | $152,500 |
| 55088 | WEBSTER | 1,668 | $132,917 |
| 55044 | LAKEVILLE | 61,134 | $133,085 |
| 55372 | PRIOR LAKE | 34,184 | $137,301 |
| 55046 | LONSDALE | 5,999 | $95,027 |