ZIP Code 55601 — Beaver Bay city, MN Demographics & Data

ZIP code 55601 covers Beaver Bay, MN in Lake County with a population of about 135.

At a glance, the area shows median age of 58.7 versus a U.S. median of about 38.9.

It sits in telephone area code 218; U.S. House district MN-8; the DULUTH - SUPERIOR media market.

Beaver Bay, MN fits a retirement-oriented profile (high share of residents 65+ (37.0%)). Residents and relocators commonly research healthcare access, everyday amenities (dining, personal services), and housing costs rather than tech or campus life.

Median household income in ZIP 55601 is about $54,375 — about 28% below the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 13.3%; unemployment rate near 0.0%; 19.3% of adults with a bachelor’s degree or higher (about 14.4 points below the national share (33.7%)).

Labor and commute patterns include leading industry context around Retail trade, Construction, and Public administration; about 5.7% of workers reporting work-from-home (about 9.5 points below the U.S. share (15.2%)); a mean commute of about 66.0 minutes (U.S. average near 26.8).

Median home value is about $232,700 — about 33% below the U.S. median home value ($348,079).

Housing tenure and rents show owner-occupancy near 88.7% (about 23.3 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 55601 in Beaver Bay, MN, a household would need roughly $64,000 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 $1,495. That is about 18% above the local median household income ($54,375), so the median earner would likely stretch or need a larger down payment. 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 Beaver Bay city, MN as Very Low (composite score 33.9), which is relatively lower than many U.S. communities. The strongest component scores on US5 are wildfire (62.3) and flood (29.8). 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 Beaver Bay city, MN show little to no average snow and around 32.5 inches of annual precipitation.

IRS migration statistics show a net inflow of about 10 for ZIP 55601 (Beaver Bay 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.