All Countries
Silver Bay, MN
Full City Profile · Minnesota · Lake County County
4.0
/5.0
A
Great
1,790
Population
235/sq mi density
$70,870
Median Income
$42,557 per capita
$150,700
Home Value
$162,839 Zillow
$1,044
Median Rent
18.8% income on rent
39°F
Avg Temperature
249 sunny days/yr
A
Overall
4.0 / 5.0
Strong
A
Economy
4.4 / 5.0
$70,870 median income, 1.2% unemployment
A+
Affordability
5.0 / 5.0
$150,700 home value, $1,044/mo rent
C+
Education
2.6 / 5.0
19.6% bachelor's degree or higher
Income Overview
Median Household Income
$70,870
6% below
US avg: $75,149
Per Capita Income
$42,557
9% above
US avg: $39,052
Unemployment Rate
1.2%
67% below
US avg: 3.6%
Poverty Rate
3.2%
74% below
US avg: 12.4%
Income Comparison: Silver Bay vs. U.S. Average
Each bar shows Silver Bay’s value as a percentage of the national average (100% line = U.S. avg)
Median Household
US: $75,149
$70,870
94%
Per Capita
US: $39,052
$42,557
109%
IRS Avg AGI
US: $72,000
$69,182
96%
Avg Weekly Wage
US: $1,432
$1,047
73%
Thin line = U.S. average (100%)
Employment & Commute
Avg Weekly Wage
$1,047
27% below US avg ($1,432)
Mean Commute Time
18 min
35% below US avg (28 min)
Work From Home
8.4%
45% below US avg (15.2%)
Drive Alone
83.4%
14% above US avg (73.2%)
Public Transit
0.0%
100% below US avg (5.0%)
County GDP
$565M
County-level GDP (BEA 2024)
How Residents Get to Work
Drive Alone
83.4%
Public Transit
0%
Work From Home
8.4%
Other
8.2%
Average commute time
18 minutes
US avg: 28 min
Business Landscape
Total Establishments
378
Restaurants
71
Healthcare
32
Retail
53
Manufacturing
19
Tax & Financial
IRS Avg Adjusted Gross Income
$69,182
4% below US avg ($72,000)
Avg Property Tax
$4,145
18% above US avg ($3,500)
Cost of Living Index
98.6
Below national average (100 = US avg)
Complete Economy Data
Income & Wages
| Median Household Income | $70,870 |
| Per Capita Income | $42,557 |
| IRS Avg Adjusted Gross Income | $69,182 |
| Avg Weekly Wage | $1,047 |
| County GDP | $565M |
Hardship Indicators
| Unemployment Rate | 1.2% |
| Poverty Rate | 3.2% |
| Gini Coefficient | 0.397 |
| Cost of Living Index | 98.6 |
Commute
| Mean Commute | 18 minutes |
| Drive Alone | 83.4% |
| Public Transit | 0.0% |
| Work From Home | 8.4% |
Businesses
| Total Establishments | 378 |
| Restaurants | 71 |
| Healthcare | 32 |
| Retail | 53 |
| Manufacturing | 19 |
Tax
| IRS Avg AGI | $69,182 |
| Avg Property Tax | $4,145 |