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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
Housing Overview
Median Home Value
$150,700
47% below
US avg: $281,900
Median Rent
$1,044/mo
10% below
US avg: $1,163/mo
Homeownership Rate
80.8%
24% above US avg (65.4%)
Total Housing Units
960
Median year built: 1958
Home Value by Source
Census Median
$150,700
Zillow (ZHVI)
$162,839
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
80.8%
Owner-Occupied
19.2%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Census median rent:
$1,044/mo
Affordability & Housing Stock
Rent Burden
18.8%
of renters spending 30%+ of income on housing
39% below US avg (31.0%)
Median Year Built
1958
Average age of housing stock: 68 years
Homeownership Rate
80.8%
Complete Housing Data
Home Values
| Census Median Value | $150,700 |
| Zillow Home Value (ZHVI) | $162,839 |
Rent
| Census Median Rent | $1,044 |
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
Ownership & Stock
| Owner-Occupied | 80.8% |
| Renter-Occupied | 19.2% |
| Homeownership Rate | 80.8% |
| Total Housing Units | 960 |
| Median Year Built | 1958 |
| Rent Burden | 18.8% |