Income & Economy in Babbitt city, MN (55706)
Median Income
$60,096
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+130
Wealth inflow
Population
1,827
Unemployment
3.7%
0.0pp below US avg
IRS migration statistics show a net inflow of about 130 for ZIP 55706 (Babbitt 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.
Historical Trends in 55706 (2020–Present)
Since 2020, population grew 13.1%, median income rose 8.9% (inflation-adjusted), home values increased 17.6%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $60,096 |
| Unemployment | 3.7% |
| Establishments | 39 |
| Employees | 545 |