Silver Bay, MN
Comprehensive Demographic, Economic, and Housing Data Profile
Living in Silver Bay, MN: Quick Facts & Overview
- Population: 1,769 residents (90 people per sq. mi.)
- Average House Price: $158,871
- Average Household Income: $69,489
Silver Bay, MN is located in the state of Minnesota. It is home to about 1,769 people, with around 90 residents living in every square mile.
If you want to buy a house in Silver Bay, the average price is around $158,871. That makes local housing 39% lower than the Minnesota average of $260,056, and 49% lower than the national average of $308,592.
The average household in Silver Bay earns about $69,489 a year. This income is 15% lower than the average family in Minnesota ($82,068), and 12% lower than the national average ($78,686).
Population
1,769
Median Household Income
$69,489
Median Home Value
$158,871
Median Age
47.6 yrs
Household Income Brackets
Racial & Ethnic Demographics
Age Distribution
Educational Attainment
Economic & Labor Indicators
| Individual Median Income | $42,898 |
| Labor Force Participation | 51.6% |
| Unemployment Rate | 2.8% |
| Average Commute Time | 20.4 mins |
Housing & Community Metrics
| Home Ownership Rate | 80.1% |
| Median Rent | $1,140 |
| Rent Burdened (>30% Income) | 14.7% |
| Total Housing Units | 869 |
Additional Census & Housing Profile
Geographic Overview
| County | Lake |
| County FIPS | 27075 |
| Metro Area (CBSA) | - |
| Population Density | 89.5/sq mi |
| Coordinates (lat/lng) | 47.2941, -91.2780 |
| Timezone | America/Chicago |
| National Ranking | 3 |
| Incorporated | Yes |
Household Structure
| Average Family Size | 2.47 |
| Dual Income Families | 39.8% |
Marital Status
| Married | 45.1% |
| Never Married | 30.6% |
| Divorced | 15.3% |
| Widowed | 9.1% |
Gender
| Male | 49.2% |
| Female | 50.8% |
Health & Poverty
| Uninsured Rate (Health) | 1.8% |
| Poverty Rate | 9.9% |
Key Population Groups
| Veterans | 6.1% |
| Disabled Population | 13.7% |
| Limited English Proficiency | 0.5% |
All ZIP Codes in Silver Bay
| ZIP Code | Population | Median Household Income | Median Home Value |
|---|---|---|---|
| 55614 | 2,485 | $72,981 | $181,985 |
Nearby Cities
| City | Distance | Population |
|---|---|---|
| Finland, MN | 9.3 miles | 257 |
| Two Harbors, MN | 26.1 miles | 3,567 |
| Cornucopia, WI | 31.3 miles | 108 |
| Knife River, MN | 33.6 miles | 131 |
| Port Wing, WI | 36.1 miles | 148 |
| Lutsen, MN | 37.9 miles | 222 |
| Babbitt, MN | 39.5 miles | 1,393 |
| Bayfield, WI | 39.5 miles | 565 |
| Hoyt Lakes, MN | 43.3 miles | 2,064 |
| Washburn, WI | 46.2 miles | 1,884 |
| Rice Lake, MN | 47.9 miles | 4,153 |
| Aurora, MN | 47.9 miles | 1,792 |
| Ely, MN | 50 miles | 3,240 |
| Winton, MN | 50.1 miles | 124 |