Relative Price in 55420
With a median income of $48,312 and an average price of $176.5 per month for a storage unit, renting storage for a year in 55420 Minneapolis would require 4.4% of a median earner's annual income. This ratio of storage price to median income is very high compared to other ZIP codes nationally, ranking in at the 93rd percentile, which can allow us to conclude that storage in the 55420 is relatively expensive for most of its residents. When it comes to other ZIP codes in Minnesota, storage as a percent of median income is very expensive in comparison, ranking in at the 94th percentile.
Storage Coverage In 55420
There are 9,112 households in 55420 Minneapolis and approximately 48 storage units, meaning there are 0.00527 units per household. When compared to the ratio of units-to-households in other ZIP codes nationwide, 55420 has moderately low coverage, ranking in at the 39th percentile, which could make it less easy to find a unit here than elsewhere. 55420 has a moderately high number of storage units per household compared to other ZIP codes in Minnesota, ranking at the 50th percentile.
In terms of the number of people living in 55420, the ZIP code has a population of 21,216. With a total of 5,675 square feet of storage space in the ZIP, there are 0.27sqft of storage per person. This is a moderately-low number of square feet per person compared to other ZIP codes nationwide, placing in the 37th percentile. In terms of other ZIP codes in Minnesota, 55420 ranks at the 47th percentile, meaning it has somewhat-low coverage compared to other ZIP codes in the state.