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Home Insurance in 55404

Our rates are very competitive for homeowners living in the 55404 zip code. Many homeowners based out of Minneapolis, MN have found it very easy to shop with GetHomeInsuranceQuotes.com. For example, we clearly showcase the carriers that we will shop for you. Plus, our home insurance quotes are free and our MN licensed agents can provide a free consultation service to you that allows you to ask questions about the rates and coverage options. To start a free home insurance quote, simply click the "Get Multiple Quotes Now" button. Your 55404 should appear in the zip code field ready to go.

55404 Average Home Insurance Rates

Are you looking for a standard HO-3 homeowners policy for your single family home in the Minneapolis area? The average homeowners premium in 55404 is high in comparison to other states. For example, the national average is $1,249 per year for home insurance coverage for a basic home insurance policy. For homeowners living in the 55404, you can expect to pay around $1155 per year for homeowners coverage. If you want to see which company has the best rates and coverage options, than easily compare rates with us. You can review each premium and we can help explain any question that you may have about different types of coverages and what is best for you and your family.

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Get Home Insurance Quotes in 55404

We can shop up to 12 home insurance quotes for you easily online. You can find out more by exploring one of the three links below to review average homeowners insurance rates in the great state of Minnesota. Start your 55404 home insurance shopping today!

  1. Minneapolis, MN Home Insurance Quotes

55404 Home Insurance Average Premiums

Local 55404 homeowners insurance quotes comparison

$905 /yr.

Shows Zip Code: 55404 lowest rates with discounts applied on average.

For the 55404, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$905 /yr.
Average Coverage:$1155 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1455 /yr.

What is the average home insurance cost for a home in 55404?

  • • The average homeowners insurance premium paid annually for a home in 55404 is around $1155 per year.

What does it cost on average per month for home insurance in 55404?

  • • Homeowners in 55404 pay a monthly average cost per month around $96.00.

What kind of discount could I get if I combine my home and auto insurance together in 55404?

  • • Autoowners in 55404 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Minneapolis area, check out other zip codes nearby 55404.
Review average rates in another zip code:
55417 homeowners insurance rates
55449 homeowners insurance rates
55413 homeowners insurance rates
55445 homeowners insurance rates
55420 homeowners insurance rates
55442 homeowners insurance rates
55412 homeowners insurance rates
55405 homeowners insurance rates
55429 homeowners insurance rates
55408 homeowners insurance rates

Home Replacement Cost Coverage in 55404

Average Building Cost Per Square Foot in 55404: $188

Location: Minneapolis, Minnesota (Hennepin County)

Average Square Footage in 55404: 1,401 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 55404 before you start any project. Minneapolis homeowners pay on average around $188 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 55404 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 55404 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 1,401 sq. ft. and the average cost to rebuild the home in this area is around $188 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Minneapolis area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$1881,401$263,300
Additional Upgrades & Added Features$2351,401$329,125
Major Home Updates or Advancements$2821,401$394,950

It's important to understand that when you estimate your replacement cost of your home in the 55404 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 55404

Best Home & Auto Insurance Agencies in 55404

Housing Demographics for 55404

Population Review for 55404 Zip Code

For the city of Minneapolis, the population within 55404 has increased to over 28,449 residents in population size. The current population total is 29,322. We have broken down the population based on race below. In 55404, there are over 15748 in male population and 13574 females.

PopulationValues
Total Population29,322
White Population10823
Black Population10788
Hispanic Population4359
Asian Population1060
Hawaiian Population21
Indian Population1796
Other Population2637
Male Population15748
Female Population13574
Population Estimate28449

Household Data for 55404

The average number of homes in 55404 is around 13,206, there are an average of 1.96 per household. The average house value according to local real estate values is around $263,300. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode13,206
Persons Per Household1.96
Average House Value$263,300
Income Per Household$37029
Median Age32.0
Median Age Male33.7
Median Age Female30.2
55404 DetailsValues
StateMN
State Full NameMinnesota
City TypeP
City Alias Abbreviation
Area Code612/952/763/651
CityMinneapolis
City Alias NameMINNEAPOLIS
CountyHennepin
County FIPS053
State FIPS27
Time Zone6
Day Light SavingY
MSA5120
PMSA
CSA378
CBSA33460
CBSA_DIV
CBSA_TypeMetro
CBSA_NameMinneapolis-St. Paul-Bloomington, MN-WI
MSA_NameMinneapolis-St. Paul, MN-WI MSA
PMSA_Name
RegionMidwest
DivisionWest North Central
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses692
Number Of Employees20118
Business First Quarter Payroll269068
Business Annual Payroll1182805
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population3279833
CBSA Division Population0
Congressional District05
Congressional LandArea135.66
Delivery Residential14515
Delivery Business795
Delivery Total15426
Preferred Last Line KeyY25845
Classification Code
Multi-County
CSA NameMinneapolis-St. Paul, MN-WI
CBSA_DIV_Name
City State KeyY25845
Land Area1.806000
Water Area0.000000
City Alias Code
City Mixed CaseMinneapolis
City Alias Mixed CaseMinneapolis
Box Count0
SFDU1946
MFDU12429
State ANSI27
County ANSI053
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number266360
Unique ZIP Name
SSA State County Code24260
Medicare CBSA Code33460
Medicare CBSA NameMinneapolis-St. Paul-Bloomington, MN-WI
Medicare CBSA TypeMetro
Market Rating Area ID8
County Mixed CaseHennepin

Minnesota Homeowners Insurance News & Information

  • 2025 – Study Shows Home Insurance Market Stabilizing Posted on Wednesday 11th December, 2024

    According to a new report from Matic, the homeowner’s insurance market has shown signs of stabilizing roughly two years after major premium hikes and coverage challenges.  Even though premiums are high, trends in the insurance industry show that a slowdown in premium growth may be coming. Here is a brief overview of the report and […]

  • What’s the average home insurance rate for a $300K home in 2024? Posted on Monday 9th December, 2024

    A recent report from Insurance.com found that the average homeowners insurance rate for a $300,000 in homeowners coverage hit $2,777 per year which breaks down to $231 monthly.  The cost of homeowners insurance in some states can be extremely expensive, for years Florida has been know to have the highest premiums in the nation. When […]

  • $4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024

    According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]