Minneapolis, MN — income, home value, property tax, and sales tax.
With a per-capita income of $56,645, ZIP code 55111 sits in middle-income territory, edging toward the higher end for the Minneapolis area without reaching affluent levels. That earnings profile carries a property tax rate of 1.14% at the county level, a figure homeowners here should weigh against their assessed values. Day-to-day purchases cost more, though—the combined sales tax rate of 9.53% applies broadly across goods and services in and around Minneapolis. Together, these rates mean earners in this ZIP hand over a noticeable share of income through both property and consumption taxes, a trade-off worth understanding before buying a home or planning a large purchase here.