55340 Zip Code Detailed Profile




Cities: Corcoran, MN (59.93%), Medina, MN (40.07%)
County: Hennepin County, MN
Estimated zip code population in 2013: 6,453
Zip code population in 2010: 6,327
Zip code population in 2000: 5,836

Houses and condos: 2,099
Renter-occupied apartments: 129
% of renters here:

6%
State:

28%
Mar. 2013 cost of living index in zip code 55340: 99.2 (near average, U.S. average is 100)

Land area: 36.1 sq. mi.
Water area: 0.7 sq. mi.
Population density: 179 people per square mile 
 
 (very low).

Age and Sex of Residents in zip code 55340
Zip code 55340 (Corcoran, Minnesota) real estate house value trends
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Real estate property taxes paid for housing units in 2013:
This zip code:

1.2% ($3,847)
Minnesota:

1.2% ($2,148)
Median real estate property taxes paid for housing units with mortgages in 2013: $3,957 (1.2%)
Median real estate property taxes paid for housing units with no mortgage in 2013: $3,480 (1.1%)

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Males: 3,294  (51.0%)
Females: 3,159  (49.0%)

For population 25 years and over in 55340:

For population 15 years and over in 55340:

Zip code 55340 compared to state average:

  • Median household income above state average.
  • Median house value above state average.
  • Unemployed percentage above state average.
  • Black race population percentage significantly below state average.
  • Median age above state average.
  • Foreign-born population percentage below state average.
  • Renting percentage significantly below state average.
  • Number of rooms per house above state average.
  • House age below state average.
  • Races in zip code 55340

  • Zip code 55340 races chart
    • 5,763White population
    • 60Black population
    • 13American Indian population
    • 244Asian population
    • 2Native Hawaiian and Other Pacific Islander population
    • 0Some other race population
    • 78Two or more races population
    • 167Hispanic or Latino population

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Data:
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Based on 2000-2011 data
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Urban population: 1,628
Rural population: 4,824

Estimated median house/condo value in 2013: $325,900
55340:

$325,900
Minnesota:

$180,100
Median resident age:
This zip code:

42.7 years
Minnesota median age:

37.7 years
Average household size:
This zip code:

3.1 people
Minnesota:

2.5 people

Averages for the 2012 tax year for zip code 55340, filed in 2013:

Average Adjusted Gross Income (AGI) in 2012: $188,617 (Individual Income Tax Returns)
Here:

$188,617
State:

$67,192

Salary/wage: $123,163 (reported on 85.1% of returns)
Here:

$123,163
State:

$55,182
(% of AGI for various income ranges: 75.1% for AGIs below $25k, 70.3% for AGIs $25k-50k, 71.5% for AGIs $50k-75k, 67.5% for AGIs $75k-100k, 76.3% for AGIs $100k-200k, 49.4% for AGIs over 200k)

Taxable interest for individuals: $4,709 (reported on 52.8% of returns)
This zip code:

$4,709
Minnesota:

$1,664
(% of AGI for various income ranges: 1.8% for AGIs below $25k, 1.3% for AGIs $25k-50k, 1.0% for AGIs $50k-75k, 1.0% for AGIs $75k-100k, 0.7% for AGIs $100k-200k, 1.5% for AGIs over 200k)

Ordinary dividends: $19,414 (reported on 41.4% of returns)
Here:

$19,414
State:

$5,665
(% of AGI for various income ranges: 4.0% for AGIs below $25k, 1.7% for AGIs $25k-50k, 1.9% for AGIs $50k-75k, 1.6% for AGIs $75k-100k, 1.7% for AGIs $100k-200k, 5.1% for AGIs over 200k)

Net capital gain/loss in AGI: +$75,558 (reported on 38.2% of returns)
Here:

+$75,558
State:

+$16,131
(% of AGI for various income ranges: 1.7% for AGIs $25k-50k, 0.8% for AGIs $50k-75k, 2.2% for AGIs $75k-100k, 1.8% for AGIs $100k-200k, 20.0% for AGIs over 200k)

Profit/loss from business: +$19,611 (reported on 18.1% of returns)
Here:

+$19,611
State:

+$12,430
(% of AGI for various income ranges: 6.5% for AGIs below $25k, 2.3% for AGIs $25k-50k, 5.2% for AGIs $50k-75k, 4.5% for AGIs $75k-100k, 3.5% for AGIs $100k-200k, 1.2% for AGIs over 200k)

Taxable individual retirement arrangement distribution: $30,679 (reported on 13.6% of returns)
55340:

$30,679
Minnesota:

$15,212
(% of AGI for various income ranges: 4.6% for AGIs below $25k, 4.0% for AGIs $25k-50k, 2.7% for AGIs $50k-75k, 5.0% for AGIs $75k-100k, 3.7% for AGIs $100k-200k, 1.6% for AGIs over 200k)

Self-employment retirement plans: $34,163 (reported on 2.6% of returns)
55340:

$34,163
Minnesota:

$17,874

Total itemized deductions: $55,919 (18% of AGI, reported on 56.0% of returns)
Here:

$55,919
State:

$24,665

Here:

17.8% of AGI
State:

19.6% of AGI
(% of AGI for various income ranges: 19.4% for AGIs below $25k, 15.6% for AGIs $25k-50k, 18.5% for AGIs $50k-75k, 18.3% for AGIs $75k-100k, 18.9% for AGIs $100k-200k, 16.0% for AGIs over 200k)

Charity contributions: $8,302 (reported on 51.1% of returns)
Here:

$8,302
State:

$3,948
(% of AGI for various income ranges: 1.8% for AGIs below $25k, 1.3% for AGIs $25k-50k, 2.1% for AGIs $50k-75k, 2.4% for AGIs $75k-100k, 2.4% for AGIs $100k-200k, 2.3% for AGIs over 200k)

Taxes paid: $27,842 (reported on 56.0% of returns)
55340:

$27,842
State:

$10,589
(% of AGI for various income ranges: 4.2% for AGIs below $25k, 4.7% for AGIs $25k-50k, 6.7% for AGIs $50k-75k, 7.7% for AGIs $75k-100k, 8.7% for AGIs $100k-200k, 8.5% for AGIs over 200k)

Earned income credit: $1,761 (reported on 5.8% of returns)
Here:

$1,761
State:

$2,037
(% of AGI for various income ranges: 2.5% for AGIs below $25k, 0.5% for AGIs $25k-50k)

Averages for the 2004 tax year for zip code 55340, filed in 2005:

Average Adjusted Gross Income (AGI) in 2004: $122,161 (Individual Income Tax Returns)
Here:

$122,161
State:

$53,560

Salary/wage: $96,008 (reported on 85.4% of returns)
Here:

$96,008
State:

$46,177
(% of AGI for various income ranges: 300.8% for AGIs below $10k, 68.8% for AGIs $10k-25k, 74.4% for AGIs $25k-50k, 78.1% for AGIs $50k-75k, 78.4% for AGIs $75k-100k, 64.1% for AGIs over 100k)

Taxable interest for individuals: $4,430 (reported on 60.4% of returns)
This zip code:

$4,430
Minnesota:

$1,796
(% of AGI for various income ranges: 7.0% for AGIs below $10k, 3.1% for AGIs $10k-25k, 1.9% for AGIs $25k-50k, 1.3% for AGIs $50k-75k, 1.5% for AGIs $75k-100k, 2.3% for AGIs over 100k)

Taxable dividends: $5,233 (reported on 45.1% of returns)
Here:

$5,233
State:

$3,096
(% of AGI for various income ranges: 21.0% for AGIs below $10k, 3.2% for AGIs $10k-25k, 1.1% for AGIs $25k-50k, 1.1% for AGIs $50k-75k, 1.6% for AGIs $75k-100k, 2.0% for AGIs over 100k)

Net capital gain/loss: +$18,622 (reported on 40.1% of returns)
Here:

+$18,622
State:

+$10,864
(% of AGI for various income ranges: -13.7% for AGIs below $10k, 2.1% for AGIs $10k-25k, 1.1% for AGIs $25k-50k, 1.3% for AGIs $50k-75k, 0.6% for AGIs $75k-100k, 7.4% for AGIs over 100k)

Profit/loss from business: +$18,949 (reported on 18.2% of returns)
Here:

+$18,949
State:

+$10,442
(% of AGI for various income ranges: -6.9% for AGIs below $10k, 7.9% for AGIs $10k-25k, 5.7% for AGIs $25k-50k, 5.7% for AGIs $50k-75k, 3.7% for AGIs $75k-100k, 2.3% for AGIs over 100k)

IRA payment deduction: $3,444 (reported on 3.0% of returns)
55340:

$3,444
Minnesota:

$2,955
(% of AGI for various income ranges: 0.7% for AGIs $25k-50k, 0.2% for AGIs $50k-75k, 0.2% for AGIs $75k-100k, 0.0% for AGIs over 100k)

Self-employed pension: $18,061 (reported on 2.4% of returns)
Here:

$18,061
Minnesota:

$12,099

Total itemized deductions: $36,502 (18% of AGI, reported on 54.5% of returns)
Here:

$36,502
State:

$20,035

Here:

17.5% of AGI
State:

21.3% of AGI
(% of AGI for various income ranges: 21.2% for AGIs below $10k, 22.1% for AGIs $10k-25k, 17.4% for AGIs $25k-50k, 21.9% for AGIs $50k-75k, 23.1% for AGIs $75k-100k, 15.1% for AGIs over 100k)

Charity contributions deductions: $5,506 (3% of AGI, reported on 51.3% of returns)
Here:

$5,506
State:

$3,333

Here:

2.5% of AGI
State:

3.4% of AGI
(% of AGI for various income ranges: 1.0% for AGIs below $10k, 2.0% for AGIs $10k-25k, 1.8% for AGIs $25k-50k, 2.8% for AGIs $50k-75k, 2.9% for AGIs $75k-100k, 2.3% for AGIs over 100k)

Total tax: $29,122 (reported on 81.5% of returns)
55340:

$29,122
State:

$8,485
(% of AGI for various income ranges: 7.5% for AGIs below $10k, 5.4% for AGIs $10k-25k, 7.7% for AGIs $25k-50k, 8.3% for AGIs $50k-75k, 9.3% for AGIs $75k-100k, 22.2% for AGIs over 100k)

Earned income credit: $1,617 (reported on 4.9% of returns)
Here:

$1,617
State:

$1,523

Percentage of individuals using paid preparers for their 2004 taxes: 60.8%
Here:

61%
State:

59%
(% for various income ranges: 48.5% for AGIs below $10k, 55.5% for AGIs $10k-25k, 62.5% for AGIs $25k-50k, 66.0% for AGIs $50k-75k, 64.3% for AGIs $75k-100k, 68.2% for AGIs over 100k)

Estimated median household income in 2013:
This zip code:

$112,196
Minnesota:

$60,702
Corcoran, MN (55340) map Nearest zip codes: 55311, 55356, 55446, 55374, 55357, 55447.
Percentage of family households:
This zip code:

68.3%
Minnesota:

50.8%
Percentage of households with unmarried partners:
This zip code:

3.6%
Minnesota:

6.7%
No gay or lesbian households reported

Household received Food Stamps/SNAP in the past 12 months: 50
Household did not receive Food Stamps/SNAP in the past 12 months: 2,019


Women who had a birth in the past 12 months: 76 (76 now married, 0 unmarried)
Women who did not have a birth in the past 12 months: 1,514 (885 now married, 629 unmarried)


Housing units in zip code 55340 with a mortgage: 1,346 (66 second mortgage, 269 home equity loan, 70 both second mortgage and home equity loan)
Houses without a mortgage: 594

Median monthly owner costs for units with a mortgage: $2,156
Median monthly owner costs for units without a mortgage: S686

Residents with income below the poverty level in 2013:
This zip code:

4.0%
Whole state:

11.2%
Residents with income below 50% of the poverty level in 2013:
This zip code:

2.8%
Whole state:

6.3%
Median number of rooms in houses and condos:
Here:

8.0
State:

7.0
Median number of rooms in apartments:
Here:

7.1
State:

4.0
  • Notable locations in this zip code not listed on our city pages

  • Click to draw/clear zip code borders
  • Notable locations in zip code 55340: Baker National Golf Course (A), Hennepin County Fairgrounds (B), Shamrock Golf Course (C), Rolling Green Country Club (D), Hamel Volunteer Fire Department (E), Corcoran City Hall (F). Display/hide their locations on the map

    Cemeteries: Saint John's Evangelical Lutheran Cemetery (1), Saint Thomas Cemetery (2), Old Saint Thomas Cemetery (3), Saint Janes Cemetery (4), Saints Peter and Paul Cemetery (5), Saint Anne's Cemetery (6). Display/hide their locations on the map

    Lakes: Lake Medina (A), Thomas Lake (B), Winterhalter Lake (C), Morin Lake (D), Scott Lake (E), Spurzem Lake (F), School Lake (G), Peter Lake (H). Display/hide their locations on the map

    Park in zip code 55340: Corcoran Community Park (1). Display/hide its location on the map

Year house built

  • 462010 or later
  • 6672000 to 2009
  • 3251990 to 1999
  • 2791980 to 1989
  • 4411970 to 1979
  • 981960 to 1969
  • 561950 to 1959
  • 361940 to 1949
  • 1511939 or earlier

Zip code 55340 satellite photo by USGS

Owner-occupied Renter-occupied

Bedrooms in owner-occupied houses and condos in Corcoran, MN (55340)

  • 0no bedroom
  • 201 bedroom
  • 2882 bedrooms
  • 7253 bedrooms
  • 5714 bedrooms
  • 3365+ bedrooms

Bedrooms in renter-occupied apartments in Corcoran, MN (55340)

  • 0no bedroom
  • 91 bedroom
  • 72 bedrooms
  • 453 bedrooms
  • 404 bedrooms
  • 285+ bedrooms
Owner-occupied Renter-occupied

Cars and other vehicles available in Corcoran, MN (55340) in owner-occupied houses/condos

  • 56no vehicle
  • 2371 vehicle
  • 8112 vehicles
  • 5113 vehicles
  • 2224 vehicles
  • 1035+ vehicles

Cars and other vehicles available in Corcoran, MN (55340) in renter-occupied apartments

  • 0no vehicle
  • 171 vehicle
  • 442 vehicles
  • 403 vehicles
  • 284 vehicles
  • 05+ vehicles

Median gross rent in 2013: $1,434.

Estimated median house (or condo) value in 2013 for:


Estimated median house or condo value in 2013: $325,900
55340:

$325,900
Minnesota:

$180,100
Lower value quartile - upper value quartile: $222,300 - $635,500

Mean price in 2013:

Detached houses: $576,699
Here:

$576,699
State:

$229,257

Townhouses or other attached units: $497,338
Here:

$497,338
State:

$168,477

In 5-or-more-unit structures: $232,153
Here:

$232,153
State:

$160,166

Mobile homes: $15,422
Here:

$15,422
State:

$45,753

Owners and renters by unit type in %

Breakdown of mean house values by ages of householders

Housing units in structures:


Unemployment: 9.7%

Percentage of zip code residents living and working in this county: 90.6%

Household type by relationship:

Households: 6,453

Size of family households: 613 2-persons, 365 3-persons, 292 4-persons, 282 5-persons, 95 6-persons, 34 7-or-more-persons

Size of nonfamily households: 303 1-person, 50 2-persons, 35 3-persons

1,639 married couples with children.
72 single-parent households (72 women).

94.1% of residents of 55340 zip code speak English at home.
3.0% of residents speak Spanish at home (56% very well, 27% well, 16% not well).
1.3% of residents speak other Indo-European language at home (100% very well).
1.7% of residents speak Asian or Pacific Island language at home (95% very well, 5% well).

Foreign born population: 318 (4.9%)
(33.6% of them are naturalized citizens)
This zip code:

4.9%
Whole state:

7.4%

Most common places of birth for the foreign-born residents

  • 45%Mexico
  • 15%Laos
  • 6%England
  • 4%Israel
  • 4%United Kingdom, excluding England and Scotland
  • 4%Sweden
  • 3%Indonesia

Most common first ancestries reported in 55340 (%)

  • 26%German
  • 10%Norwegian
  • 10%Other groups
  • 7%Irish
  • 6%Swedish
  • 4%Scandinavian
  • 3%English

Year of entry for the foreign-born population

  • 02010 or later
  • 1042000 to 2009
  • 681990 to 1999
  • 160Before 1990

Zip code 55340 topographic map

Major facilities with environmental interests located in this zip code:


Zip code 55340 marital status for males
Zip code 55340 marital status for females

Most commonly used house heating fuel

  • 70%Utility gas
  • 16%Bottled, tank, or LP gas
  • 9%Electricity
  • 4%Fuel oil, kerosene, etc.
  • 1%Wood

Population in 1990: 4,930. Population change in the 1990s: +906 (+18.4%).

Place of birth for U.S.-born residents:


68% of the 55340 zip code residents lived in the same house 5 years ago.
   Out of people who lived in different houses, 60% lived in this county.
   Out of people who lived in different counties, 50% lived in Minnesota.

93% of the 55340 zip code residents lived in the same house 1 year ago.
   Out of people who lived in different houses, 70% moved from this county.
   Out of people who lived in different houses, 10% moved from different county within same state.
   Out of people who lived in different houses, 20% moved from different state.

Year Householders Moved Into Unit

Private vs. public school enrollment:

Students in private schools in grades 1 to 8 (elementary and middle school): 232
Here:

32.2%
Minnesota:

11.3%
Students in private schools in grades 9 to 12 (high school): 88
Here:

13.3%
Minnesota:

8.3%
Students in private undergraduate colleges: 61
Here:

30.8%
Minnesota:

23.1%

Educational Attainment (%)

School Enrollment by Level of School (%)

Class of Workers (%)

Occupation by median earnings in the past 12 months ($)

  • 173,611Computer and mathematical occupations
  • 108,864Management occupations
  • 100,714Architecture and engineering occupations
  • 68,000Health diagnosing and treating practitioners and other technical occupations
  • 60,729Sales and related occupations
  • 60,536Business and financial operations occupations

Companies with federal contracts located in this zip code:

Top industries in this zip code by the number of employees in 2005:


Age and Sex of Sensory-Disabled Residents (Noninstitutionalized)

Age and Sex of Physically-Disabled Residents (Noninstitutionalized)

Age and Sex of Mentally-Disabled Residents (Noninstitutionalized)

Age and Sex of Self-Care Disabled Residents (Noninstitutionalized)

Age and Sex of Go-Outside-Home Disabled Residents (Noninstitutionalized)

Age and Sex of Residents with Employment Disability (Noninstitutionalized)

Fatal accident statistics in 2011:

  • Fatal accident count: 2
  • Vehicles involved in fatal accidents: 3
  • Fatal accidents caused by drunken drivers: 1
  • Fatalities: 3
  • Persons involved in fatal accidents: 5
  • Pedestrians involved in fatal accidents: 0
Home Mortgage Disclosure Act Aggregated Statistics For Year 2009
(Based on 4 partial tracts)
A) FHA, FSA/RHS & VA
Home Purchase Loans
B) Conventional
Home Purchase Loans
C) Refinancings
D) Home Improvement Loans
E) Loans on Dwellings For 5+ Families
F) Non-occupant Loans on
< 5 Family Dwellings (A B C & D)
G) Loans On Manufactured
Home Dwelling (A B C & D)
NumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage Value
LOANS ORIGINATED26$244,19171$338,874444$289,49010$130,5621$470,31017$294,9460$0
APPLICATIONS APPROVED, NOT ACCEPTED0$05$480,10237$338,4895$60,9120$00$00$0
APPLICATIONS DENIED3$281,37717$382,355107$320,3463$47,8000$06$242,4251$45,840
APPLICATIONS WITHDRAWN1$217,7207$456,39770$318,5958$164,7510$00$00$0
FILES CLOSED FOR INCOMPLETENESS0$03$525,40718$540,8762$33,0250$00$00$0

Detailed HMDA statistics for the following Tracts: 0271.01 , 0271.02

Private Mortgage Insurance Companies Aggregated Statistics For Year 2009
(Based on 4 partial tracts)
A) Conventional
Home Purchase Loans
B) Refinancings
NumberAverage ValueNumberAverage Value
LOANS ORIGINATED9$278,1704$232,678
APPLICATIONS APPROVED, NOT ACCEPTED0$02$342,985
APPLICATIONS DENIED2$182,4053$204,987
APPLICATIONS WITHDRAWN1$167,4700$0
FILES CLOSED FOR INCOMPLETENESS0$00$0

Detailed PMIC statistics for the following Tracts: 0271.01 , 0271.02

Conventional Home Purchase Loans

Conventional Home Purchase Loans - Value

Most common first names in zip code 55340 among deceased individuals
NameCountLived (average)
Mary1382.8 years
William1177.1 years
John1176.2 years
Joseph877.5 years
Rose879.1 years
Robert864.6 years
Anna785.4 years
George771.0 years
Donald773.3 years
Harry673.7 years
Most common last names in zip code 55340 among deceased individuals
Last nameCountLived (average)
Johnson871.8 years
Dorweiler590.6 years
Olson578.0 years
Fortin488.8 years
Cain480.5 years
Gleason487.0 years
Laurent475.7 years
Nelson479.0 years
Pepin479.0 years
Theis462.2 years
Businesses in zip code 55340
NameCountNameCount
Caribou Coffee1Penske1
Dairy Queen1Starbucks1
FedEx1T-Mobile1
McDonald's1Target1
OfficeMax1

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