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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
Change Over Time (2013–2023)
Population Change
-0.7%
1,827 → 1,815
over 10 years
Annual Pop. Growth
-0.07%
Compound annual growth rate
Median Income Change
+74.6%
$40,600 → $70,870
nominal, not inflation-adjusted
Annual Income Growth
+5.73%
Compound annual growth rate
Population Over Time
Total population for Silver Bay across each available Census ACS release.
Median Household Income Over Time
Median household income reported by U.S. Census ACS. Values are nominal (not adjusted for inflation).
Projected 2030
Simple projections extrapolating the 2013–2023 compound annual growth rate forward. These are mathematical extensions of recent trends, not forecasts — real outcomes depend on migration, policy and economic shifts.
Projected Population 2030
1,806
-9 from 2023 (1,815)
Projected Median Income 2030
$104,677
+$33,807 from 2023 ($70,870)
Year-by-Year Detail
| Year | Population | YoY % | Median Income | YoY % |
|---|---|---|---|---|
| 2013 | 1,827 | — | $40,600 | — |
| 2015 | 1,785 | -2.3% | $41,439 | +2.1% |
| 2017 | 1,756 | -1.6% | $44,583 | +7.6% |
| 2019 | 1,760 | +0.2% | $47,639 | +6.9% |
| 2021 | 1,858 | +5.6% | $61,544 | +29.2% |
| 2023 | 1,815 | -2.3% | $70,870 | +15.2% |
Source: U.S. Census ACS 5-Year Estimates (Data Commons). Home value and rent are not yet available historically.