ZIP Code 55414

In ZIP 55414, which covers part of Minneapolis, households earn a median of $51,966, while per-capita income reaches $35,444. A median home value of $440,500 sits well above what those earnings would ordinarily support, so buyers here often carry larger mortgages or have accumulated equity over time. Property taxes run at 1.14% of value at the county level, which works out to roughly $5,000 annually on a median-priced home. Add an 8.53% combined sales tax on everyday purchases, and the squeeze on a $51,966 income becomes clear.