Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 53.9 yrs |
|---|---|
| Avg HH Size | 1.85 |
| Below Poverty | 9.0% ▼ 10% below avg |
| College Grads | 38.5% ≈ Avg |
| Unemployment | 1.7% ▼ 65% below avg |
| HS Graduate | 511 (27.5%) |
| Some College | 304 (16.4%) |
| Associates | 328 (17.6%) |
| Bachelors | 278 (15%) |
| Graduate Degree | 438 (23.6%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $74,313 ≈ Avg |
|---|---|
| Median Home Value | $172,900 ▼ 38% below avg |
| Home/Income Ratio | 2.3x (nat avg ~3.5x) |
| Median Rent | $1,035/mo |
| Total Housing Units | 1,529 |
| Vacant Units | 254 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Silver Bay is a city in Minnesota, located in Lake County. The city spans 1 ZIP code and is home to approximately 2,450 residents. It is a mature city, with a median age of 53.9 years.
Economically, Silver Bay is a solidly middle-class community. The median household income of $74,313 is near the national average. Approximately 9.0% of residents live below the poverty line. The unemployment rate is 1.7%, well below the national average.
The real estate market in Silver Bay is an affordable housing market. Median home values stand at $172,900, which is below the national average. Renters typically pay around $1,035 per month. Homeownership is high at 85.2%, typical of suburban and family-oriented communities.
The population of Silver Bay is moderately educated. 38.5% of adults hold a bachelor's degree or higher — near the national average. The community is primarily White (91.39%).
Silver Bay, MN offers residents a cost-conscious lifestyle within Minnesota.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 55614 | 2,450 | $74,313 | $172,900 | $1,035 | 1.7% | 38.5% | 85.2% |