Census tract · Hennepin County
Census Tract 1040.02, Hennepin County, Minnesota
Census Tract 1040.02, GEOID 27053104002, in Hennepin County, Minnesota, entirely within Minneapolis. 4,454 residents in the ACS 2020-2024 5-year estimates (±740); the 2020 Census counted 4,309.
Residents, 2020-2024
4,454
±740 (90% margin)
2020 Census count: 4,309
Median household income
$84,709
±$19,462 (90% margin)
Hennepin County: $97,653
Median home value
$352,200
±$72,383 (90% margin)
Hennepin County: $392,900
Median gross rent
$1,630
±$331 (90% margin)
Hennepin County: $1,487
Where is Census Tract 1040.02?
Census Tract 1040.02 is one of 329 census tracts in Hennepin County, Minnesota. It covers 1.48 square miles of land, 2,904 residents per square mile in 2020. Its GEOID, 27053104002, names it uniquely (how tract numbers and GEOIDs work).
| Place | Share of the tract |
|---|---|
| Minneapolis | 100% |
6 census tracts border Census Tract 1040.02: Tract 38.01 ($43,173), Tract 38.02 ($25,921), Tract 1026 ($79,167), Tract 1040.01 ($59,888), Tract 413.01 in Ramsey County ($85,817) and Tract 420.02 in Ramsey County ($78,684). The figure in brackets is each tract's median household income.
Whether a tract counts as low- or moderate-income for bank lending (the Community Reinvestment Act) is set by the FFIEC against its metro area's family income: look it up in the FFIEC census geocoder.
Source: 2024 Gazetteer and 2020 block assignment files, U.S. Census Bureau · Census reference files
How many people live in Census Tract 1040.02?
The 2020-2024 American Community Survey puts Census Tract 1040.02's population at 4,454 (±740) in 1,472 households; the 2020 Census counted 4,309 residents and 1,728 housing units.
| Measure | Tract 1040.02 | Minneapolis |
|---|---|---|
| Total population | 4,454 ±740 | 427,246 |
| Households | 1,472 ±173 | 192,734 |
| Average household size | 3.03 ±0.34 | 2.12 |
| Housing units | 1,636 ±160 | 209,080 |
Source: American Community Survey 2020-2024 5-year estimates, U.S. Census Bureau (released January 2026); 2020 Census P.L. 94-171 · Check it at data.census.gov
Who lives in Census Tract 1040.02?
The median resident of Census Tract 1040.02 is 23.4 years old; 6.1% are under 18 and 3.4% are 65 or older. The largest group is non-Hispanic white residents at 58.5%, then non-Hispanic Asian residents at 17.5%. 19.6% of residents were born outside the United States.
| Measure | Tract 1040.02 | Minneapolis |
|---|---|---|
| Median age | 23.4 ±1.8 | 33.4 |
| Under 18 years | 6.1% ±1.5 pts | 18.8% |
| 65 years and over | 3.4% ±1.6 pts | 11.4% |
| Hispanic or Latino (any race) | 5.7% ±3.0 pts | 10.1% |
| White alone, not Hispanic | 58.5% ±7.4 pts | 58.8% |
| Black or African American alone, not Hispanic | 10.1% ±2.1 pts | 18.5% |
| Asian alone, not Hispanic | 17.5% ±7.4 pts | 5.3% |
| American Indian and Alaska Native alone, not Hispanic | 1.9% ±1.7 pts | 0.7% |
| Native Hawaiian and Other Pacific Islander alone, not Hispanic | 0.0% ±0.5 pts | 0.0% |
| Two or more races, not Hispanic | 4.6% ±2.8 pts | 6.0% |
| Some other race alone, not Hispanic | 1.6% ±2.0 pts | 0.6% |
| Born outside the United States | 19.6% ±6.6 pts | 13.7% |
| Speak a language other than English at home (age 5+) | 29.2% ±6.8 pts | 20.1% |
| Civilian veterans (age 18+) | 2.1% ±1.5 pts | 3.4% |
| With a disability | 5.7% ±3.0 pts | 12.0% |
| No health insurance coverage | 2.3% ±1.6 pts | 5.6% |
| High school graduate or higher (age 25+) | 97.2% ±3.8 pts | 91.5% |
| Bachelor's degree or higher (age 25+) | 76.5% ±6.9 pts | 55.5% |
| Graduate or professional degree (age 25+) | 39.4% ±11.2 pts | 22.2% |
| Lived in the same house a year earlier | 55.3% ±9.9 pts | 78.5% |
Source: American Community Survey 2020-2024 5-year estimates, U.S. Census Bureau (released January 2026) (Data Profiles DP02, DP05) · Check it at data.census.gov
What do households in Census Tract 1040.02 earn?
Half of the 1,472 households in Census Tract 1040.02 earn less than $84,709 a year (±$19,462), against $97,653 across Hennepin County: 213th highest of the county's 324 tracts with a reliable estimate. 24.8% of residents live below the poverty line.
| Measure | Tract 1040.02 | Minneapolis |
|---|---|---|
| Median household income | $84,709 ±$19,462 | $80,846 |
| Mean household income | $98,550 ±$12,413 | $115,325 |
| Per capita income | $33,461 ±$3,427 | $52,692 |
| People below the poverty line | 24.8% ±6.7 pts | 16.0% |
| Children under 18 below the poverty line | 0.0% ±7.9 pts | 17.9% |
| Households receiving SNAP | 3.6% ±4.3 pts | 12.5% |
| Households with a computer | 99.5% ±0.9 pts | 96.8% |
| Households with a broadband subscription | 87.2% ±4.9 pts | 90.8% |
Source: American Community Survey 2020-2024 5-year estimates, U.S. Census Bureau (released January 2026) (Data Profile DP03) · Check it at data.census.gov
What does housing cost in Census Tract 1040.02?
Owners occupy 19.5% of Census Tract 1040.02's occupied homes and renters 80.5%. The median owner-occupied home is valued at $352,200 by its owner (±$72,383). The median renter pays $1,630 a month including utilities, and 27.8% of renters pay 35% or more of their income on rent.
| Measure | Tract 1040.02 | Minneapolis |
|---|---|---|
| Median home value (owner-occupied) | $352,200 ±$72,383 | $362,200 |
| Median gross rent | $1,630 ±$331 | $1,371 |
| Renters paying 35% or more of income on rent | 27.8% ±8.7 pts | 38.6% |
| Median monthly owner costs, with a mortgage | $1,983 ±$937 | $2,128 |
| Owner-occupied homes | 19.5% ±6.4 pts | 47.7% |
| Renter-occupied homes | 80.5% ±6.4 pts | 52.3% |
| Housing units | 1,636 ±160 | 209,080 |
| Single-family detached homes | 35.6% ±7.4 pts | 40.2% |
| Mobile homes | 0.0% ±1.4 pts | 0.3% |
| Built 2020 or later | 2.0% ±2.5 pts | 1.8% |
| Built 2010 to 2019 | 1.1% ±0.9 pts | 9.4% |
| Built 1939 or earlier | 42.7% ±7.4 pts | 42.8% |
| Households with no vehicle | 5.2% ±3.3 pts | 15.6% |
Source: American Community Survey 2020-2024 5-year estimates, U.S. Census Bureau (released January 2026) (Data Profile DP04) · Check it at data.census.gov
How do people in Census Tract 1040.02 get to work?
51.6% of Census Tract 1040.02's workers drive alone and 21.0% work from home. The average trip to work takes 20.3 minutes.
| Measure | Tract 1040.02 | Minneapolis |
|---|---|---|
| In the labor force (age 16+) | 83.3% ±5.1 pts | 73.0% |
| Unemployment rate | 3.7% ±2.7 pts | 5.9% |
| Drove alone to work | 51.6% ±7.0 pts | 51.9% |
| Carpooled | 3.9% ±2.5 pts | 5.9% |
| Public transportation | 15.6% ±7.5 pts | 6.8% |
| Walked | 1.6% ±1.2 pts | 5.8% |
| Worked from home | 21.0% ±7.7 pts | 26.2% |
| Mean travel time to work | 20.3 min ±2.6 | 22.0 min |
Source: American Community Survey 2020-2024 5-year estimates, U.S. Census Bureau (released January 2026) (Data Profile DP03) · Check it at data.census.gov
How does Census Tract 1040.02 compare with the other tracts in Hennepin County?
Among Hennepin County's tracts with a reliable estimate, Census Tract 1040.02 ranks as shown below (1 = highest).
| Measure | In Hennepin County | In Minneapolis |
|---|---|---|
| Population | 96th of 328 | 24th of 121 |
| Residents per square mile | 221st of 329 | 118th of 121 |
| Median household income | 213th of 324 | 52nd of 117 |
| Per capita income | 281st of 326 | 90th of 120 |
| Median home value | 190th of 322 | 50th of 116 |
| Median gross rent | 139th of 295 | 38th of 112 |
| Poverty rate | 28th of 198 | 25th of 89 |
| Bachelor's degree or higher | 31st of 326 | 17th of 119 |
| Median age | 321st of 328 | 114th of 121 |
| Owner-occupied share | 305th of 322 | 101st of 116 |
The tracts next to it on Hennepin County's income ladder
| Tract | Rank | Median household income |
|---|---|---|
| Tract 1.02 | 210th | $85,203±$6,046 · within the margin of this tract |
| Tract 210.02 | 211th | $84,886±$13,556 · within the margin of this tract |
| Tract 1007 | 212th | $84,821±$21,414 · within the margin of this tract |
| Tract 1040.02 | 213th | $84,709±$19,462 |
| Tract 1261.01 | 214th | $84,485±$9,480 · within the margin of this tract |
| Tract 246 | 215th | $84,167±$13,029 · within the margin of this tract |
| Tract 240.03 | 216th | $84,092±$7,621 · within the margin of this tract |
"Within the margin": the two incomes differ by less than their combined 90% margins, so the survey cannot say which is higher and the ranks between them are not firm.
Source: PlainCities ranks computed from the American Community Survey 2020-2024 5-year estimates, U.S. Census Bureau (released January 2026) · How ranks are computed
How reliable are the figures for Census Tract 1040.02?
Every figure for Census Tract 1040.02 on this page has a coefficient of variation under 40%, the Census Bureau's threshold for a usable estimate.
A census tract's figures rest on a few hundred sampled households over five years, so its margins are wider than a city's. Two tracts differ only when the gap between them is larger than their combined 90% margin (the square root of the sum of the two squared margins). How to read a margin of error.
Source: American Community Survey 2020-2024 5-year estimates, U.S. Census Bureau (released January 2026): margins of error as published · Check it at data.census.gov
How these figures are made: methodology and release checks · reading a margin of error · every state · corrections