ZIP Code 55340 — Corcoran city, MN Demographics & Data

ZIP code 55340 covers Corcoran, MN in Hennepin County with a population of about 9,776.

At a glance, the area shows median age of 38.4 (near the U.S. median).

It sits in telephone area code 763; U.S. House district MN-3; the MINNEAPOLIS - ST. PAUL media market.

Corcoran, MN aligns with a tech / corporate-campus profile (high remote-work / education / income profile or known campus context). Broadband quality, remote-work share, and nearby employer campuses often matter as much as classic residential stats.

Median household income in ZIP 55340 is about $174,120 — about 132% above the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 1.2%; unemployment rate near 2.2%; 61.3% of adults with a bachelor’s degree or higher (about 27.6 points above the national share (33.7%)).

Labor and commute patterns include leading industry context around Manufacturing, Finance and insurance, and Retail trade; about 36.0% of workers reporting work-from-home (about 20.8 points above the U.S. share (15.2%)); a mean commute of about 180.0 minutes (U.S. average near 26.8).

Median home value is about $607,600 — about 75% above the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $1,181 (about even with the U.S. median rent ($1,163)), and owner-occupancy near 93.0% (about 27.6 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 55340 in Corcoran, MN, a household would need roughly $167,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,903. That is roughly in line with the local median household income ($174,120). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

FEMA’s National Risk Index rates natural-hazard risk for Corcoran city, MN as Relatively High (composite score 98.3), which is among the highest nationally. The strongest component scores on US5 are flood (98.0) and wildfire (74.9). These scores are county-linked NRI values published for planning context — all ZIP codes in the same county share the same composite score on US5. Useful when comparing insurance and disaster exposure across areas, not a substitute for a parcel-level flood or fire determination.

Climate normals for Corcoran city, MN show little to no average snow.

IRS migration statistics show a net inflow of about 694 for ZIP 55340 (Corcoran city, MN) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.