Silver Bay

Population: 1,790
Median household income: $70,870
Median home value: $150,700

Located in Lake County, Minnesota, Silver Bay is a community with a population of 1,790. Its median household income of $70,870 runs below the Lake County figure of $75,621.

Between 2019 and 2023, Silver Bay's population grew 3.9% from 1,722 to 1,790, while its median home value rose 58.1% from $95,300 to $150,700.

Households average 1.87 people. The median gross rent is $1,044.

Demographics

ACS 2019–2023

Population: 1,790
Median age: 48.0 yrs
Median household income: $70,870
Median home value: $150,700
Median gross rent: $1,044
Housing units: 1,001
Homeownership rate: 80.8%
Bachelor's degree or higher: 19.6%
Unemployment rate: 2.3%

Trends

ACS 5-year · 2019–2023

Population

1,7221,790

Median household income

$47,639$70,870

Median home value

$95,300$150,700

Median gross rent

$777$1,044

Year	Population	Median household income	Median home value	Median gross rent
2019	1,722	$47,639	$95,300	$777
2020	1,610	$56,058	$94,900	$812
2021	1,603	$61,544	$100,200	$874
2022	1,690	$65,882	$129,100	$941
2023	1,790	$70,870	$150,700	$1,044

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 54.6%

5 to 1714.6%

18 to 245.9%

25 to 349.2%

35 to 4410.6%

45 to 5410.9%

55 to 6414.7%

65 to 7416.2%

75 and over13.2%

	Count	Share
Under 5	83	4.6%
5 to 17	262	14.6%
18 to 24	105	5.9%
25 to 34	165	9.2%
35 to 44	189	10.6%
45 to 54	196	10.9%
55 to 64	263	14.7%
65 to 74	290	16.2%
75 and over	237	13.2%

Race & ethnicity

	Count	Share
White (non-Hispanic)	1,612	90.1%
Black or African American	0	0.0%
American Indian & Alaska Native	0	0.0%
Asian	23	1.3%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	0	0.0%
Two or more races	98	5.5%
Hispanic or Latino (any race)	57	3.2%

Educational attainment (age 25+)

No high school diploma5.4%

High school graduate31.0%

Some college or associate's44.0%

Bachelor's degree15.0%

Graduate or professional degree4.6%

	Count	Share
No high school diploma	72	5.4%
High school graduate	415	31.0%
Some college or associate's	590	44.0%
Bachelor's degree	201	15.0%
Graduate or professional degree	62	4.6%

Commute to work

Mean travel time to work: 18 min

Drove alone83.4%

Carpooled4.7%

Public transit0.0%

Walked3.5%

Bicycle0.0%

Worked from home8.4%

Other means0.0%

How workers get to work

	Count	Share
Drove alone	637	83.4%
Carpooled	36	4.7%
Public transit	0	0.0%
Walked	27	3.5%
Bicycle	0	0.0%
Worked from home	64	8.4%
Other means	0	0.0%

Travel time

	Count	Share
Under 15 min	452	64.6%
15 to 29 min	33	4.7%
30 to 44 min	131	18.7%
45 to 59 min	12	1.7%
60+ min	72	10.3%

Households

Average household size: 1.87
Poverty rate: 8.9% (152 of 1,703)

	Count	Share
Family households	507	55.7%
Nonfamily households	403	44.3%

Housing

Median year structure built: 1958

Occupancy

	Count	Share
Occupied	910	90.9%
Vacant	91	9.1%

Tenure (of occupied units)

	Count	Share
Owner-occupied	735	80.8%
Renter-occupied	175	19.2%

1-unit, detached89.4%

1-unit, attached0.0%

2 to 4 units0.0%

5 to 19 units6.6%

20 or more units2.7%

Mobile home & other1.3%

Units in structure

	Count	Share
1-unit, detached	895	89.4%
1-unit, attached	0	0.0%
2 to 4 units	0	0.0%
5 to 19 units	66	6.6%
20 or more units	27	2.7%
Mobile home & other	13	1.3%

Geography

Place GEOID: 2760250
Type (LSAD): 25
Land area: 7.63 sq mi
Water area: 0.43 sq mi
Center point: 47.2933, -91.2768