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55940 Income Statistics

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Comparison to Surrounding Areas

55940 Median Household Income

The median household income ($79,310) for 55940 is less than the median household income for 55927 ($91,449), 55973 ($86,875), 55976 ($94,107), 55920 ($127,566), 55944 ($92,342), Olmsted County ($90,420), and Dodge County ($92,890). But it's more than 55917 ($70,536), 55982 ($-1), Mower County ($66,972), and Hayfield city ($68,125).

55940$79,310
Hayfield city$68,125
Dodge County$92,890
Mower County$66,972
Olmsted County$90,420

55940 Average Household Income

The average household income ($94,818) for 55940 is less than the average household income for 55982 ($233,407), 55973 ($99,813), 55976 ($106,321), 55920 ($147,451), 55927 ($108,927), 55944 ($113,488), Olmsted County ($122,239), and Dodge County ($112,345). But it's more than 55917 ($89,493), Mower County ($86,370), and Hayfield city ($74,336).

55940$94,818
Hayfield city$74,336
Dodge County$112,345
Mower County$86,370
Olmsted County$122,239

55940 Per-Capita Income

The per-capita income for 55940 is $38,653. The per capita income ($38,653) for 55940 is less than the per capita income for 55982 ($57,260), 55973 ($42,669), 55976 ($41,314), 55920 ($53,331), 55927 ($42,323), 55944 ($42,262), Olmsted County ($49,799), and Dodge County ($42,838). But it's more than 55917 ($34,614), Mower County ($33,921), and Hayfield city ($31,966).

55940$38,653
Hayfield city$31,966
Dodge County$42,838
Mower County$33,921
Olmsted County$49,799

55940 High Income Households

7.1% of households make over $200,000 a year. The percent high income households (7.1%) for 55940 is more than 55982 (35.8%), 55927 (11.3%), 55944 (7.7%), 55973 (9.5%), 55976 (8.1%), 55917 (5.8%), 55920 (18.9%), Mower County (5.5%), Olmsted County (13.9%), Dodge County (9.9%), and Hayfield city (1.0%).

559407.1%
Hayfield city1.0%
Dodge County9.9%
Mower County5.5%
Olmsted County13.9%

55940 Median Household Income by Age of Householder

under 25 years 25 to 44 years 45 to 64 years 65 years and over
55940$33,026$105,682$95,417$50,375
Hayfield city$-1$93,571$70,000$-1
Dodge County$57,824$104,577$115,625$54,858
Mower County$51,793$77,895$77,368$53,858
Olmsted County$53,890$99,909$117,516$60,684

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About the Data

Sources & Margins of Error

All income statistics above are the most current, comparable income statistics available from the US Census Bureau and are from the American Community Survey 2022 5-year estimates. You can find this information and other demographics for 55940 on the US Census Bureau’s website. These values are in 2022 inflation-adjusted dollars and were downloaded on 7 December 2023.

The following data tables were used:

  • B19001 Household Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • B19013 Median Household Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • B19301 Per Capita Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • S1902 Mean Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • B19049 Median Household Income in the Past 12 Months (in 2022 inflation-adjusted dollars) By Age Of Householder

Margins of error for the above income data are:

Median Household Income Average Household Income Per Capita Income High Income Households Median Household Income by Age of Householder
under 25 25 to 44 45 to 64 65+
55940+/-$10,171+/-$5,590+/-$2,664+/-1.9%+/-$7,753+/-$10,120+/-$15,521+/-$13,911
Hayfield city+/-$7,016+/-$6,867+/-$2,990+/-1.0%+/-$-1+/-$9,776+/-$13,042+/-$-1
Dodge County+/-$3,766+/-$6,301+/-$2,245+/-1.6%+/-$18,763+/-$6,452+/-$7,598+/-$8,884
Mower County+/-$3,831+/-$3,533+/-$972+/-1.0%+/-$15,675+/-$4,270+/-$6,697+/-$4,174
Olmsted County+/-$3,217+/-$2,670+/-$1,055+/-0.9%+/-$3,320+/-$5,589+/-$4,454+/-$4,727