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Demographic Analysis of Zip Code 55340: Increasing Racial Diversity in a White Majority Area
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
The zip code 55340 in Corcoran, Minnesota, is classified as having "Low Diversity" with a White Majority as of 2022. The area has a population of 9,565 and a median household income of $151,851. The demographic composition has been changing over the past decade, showing signs of increasing diversity.
From 2013 to 2022, the white population percentage decreased from 94% to 79%. The Asian population increased from 1% to 14% during this period. The Black population grew to 3% by 2022, and those identifying as two or more races increased from 1% to 4%. The Hispanic population remained relatively stable at 1-2% throughout the decade.
The median household income increased from $142,264 in 2013 to $164,146 in 2021, before decreasing slightly to $151,851 in 2022. The population grew by 46% from 6,537 in 2013 to 9,565 in 2022. The increase in diversity coincides with population growth and rising median incomes.
The demographic shifts in this zip code reflect trends seen in many affluent suburbs across the United States. While less diverse than Minnesota as a whole, this community is showing a faster rate of diversification than the state average, particularly in its Asian population growth. The median household income is significantly higher than both the state and national averages.
The zip code 55340 in Corcoran, Minnesota, is showing signs of transitioning towards greater diversity while categorized as having "Low Diversity" with a White Majority. This shift is occurring alongside economic growth and population increase. If current trends continue, the area may be categorized as having "Moderate Diversity," with the Asian population playing a significant role in this transformation.
