Silver Bay, MN
Full City Profile · Minnesota · Lake County County
Silver Bay, MN
At a Glance
How Silver Bay Compares to the U.S. Average
Each bar shows Silver Bay's value as a percentage of the national average (100% = U.S. avg)
Is Silver Bay a Good Place to Live?
Economy & Jobs
Silver Bay residents earn a median household income of $70,870 , which is 6% below the national average of $75,149. Per capita income is $42,557. The unemployment rate stands at 2.3% (36% below the U.S. rate of 3.6%). 3.2% of residents live below the poverty line. The area is home to 378 business establishments, including 71 restaurants.
Housing & Cost of Living
The median home value in Silver Bay is $150,700 , 47% below the national median of $281,900. Zillow estimates the typical home at $167,959. Median rent is $1,044/month, with 18.8% of renters spending more than 30% of income on housing. The cost of living index is 98.6 (100 = national average). The median home was built in 1958.
Safety & Crime
Silver Bay reports 167 violent crimes per 100,000 residents , which is 56% below the national average of 380/100K. Property crime is 167/100K.
Education
19.6% of adults in Silver Bay hold a bachelor's degree or higher (42% below the national average). 94.6% have completed high school. Local schools score 6.0/10 in standardized testing.
Climate & Weather
Silver Bay has an average annual temperature of 39°F (4°C). Winters average 10°F in January while summers reach 65°F in July. Annual precipitation totals 32.5 inches. Air quality is rated Good with a median AQI of 32.