Minneapolis, MN — income, home value, property tax, and sales tax.
In ZIP code 55408, which sits in Minneapolis, households earn a median of $70,326, or $54,669 per person. A median-priced home here is valued at $396,100, and the county-level property tax rate of 1.14% would apply against that figure. Sales purchases carry a combined 9.03% tax. Together, these figures sketch the financial terrain: income that outpaces many areas, a housing market priced well above the national midpoint, and two ongoing taxes that shape day-to-day spending and long-term ownership costs.
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