Relative Price in 55416
With a median income of $74,462 and an average price of $115.26 per month for a storage unit, renting storage for a year in 55416 Minneapolis would require 1.9% of a median earner's annual income. In comparison to the ratio of storage price to median income of ZIP codes nationwide, 55416 ranks in the 27th percentile, making it moderately inexpensive. When compared to other ZIP codes in Minnesota, storage as a fraction of median income is relatively inexpensive, ranking in at the 29th percentile.
Storage Coverage In 55416
There are 14,837 households in 55416 Minneapolis and approximately 635 storage units, meaning there are 0.0428 units per household. On a national scale, 55416 ranks in at the 57th percentile of units-per-household in every ZIP code, which means it should be relatively easy to find a storage unit here. 55416 has a very high number of storage units per household comapred to other Minnesota ZIP codes, ranking in at the 91st percentile.
In terms of the number of people living in 55416, the ZIP code has a population of 27,099. With a total of 79,175 square feet of storage space in the ZIP, there are 2.92sqft of storage per person. This is a moderately high number of square feet per population compared to other ZIP codes nationwide, ranking in the 61st percentile. In terms of other ZIP codes in Minnesota, 55416 ranks at the 94th percentile, meaning it has very high coverage compared to other ZIP codes in the state.