ZIP Code 55040

Households in ZIP code 55040, near Minneapolis, report a median income of $90,900, with per-capita income at $38,712. A median home value of $314,000 pairs with a county effective property tax rate of 1.01%, so annual property taxes land near $3,171 before any exemptions. Sales tax adds 7.88% to most purchases in the area. Together, these figures sketch the ongoing costs a household here balances against earnings: a six-figure median income, a home value in the low $300,000s, and two separate tax streams — one tied to property ownership, the other to everyday spending.