ZIP Code 55005

In ZIP code 55005, near Minneapolis, homes carry a median value of $340,600, and the county's 0.94% effective property tax rate works out to roughly $3,200 a year on such a home. With median household income at $109,107, that bill absorbs under 3% of annual earnings, so ownership here doesn't strain most budgets. Per-capita income sits at $45,475. Sales taxes combine to 7.12%, adding a bit to everyday purchases. The relationship between earnings and housing costs in this ZIP leaves buyers with breathing room that many pricier Twin Cities areas lack.