Everything You Should Know Before Moving to Silver Bay, MN
Thinking of moving to Silver Bay, MN? With a close-knit population of 1,724, this lakeside community offers affordable living—median home prices are around $186,500 and average rents just $845. Residents enjoy a low violent crime rate of 88 per 100K, short commutes averaging 12 minutes, and easy access to outdoor recreation along Lake Superior. The area boasts solid schools, high rates of high school graduation, and a cool northern climate with 58% sunny days, making it a great choice for those seeking safety, natural beauty, and a relaxed pace of life.
Demographics - Silver Bay, MN
Demographics - Silver Bay, MN
Silver Bay is a small, close-knit community of 1,724 residents, with a median age of 52.3 and a population density of 195 people per square mile. The city is predominantly White, and only about 4% of residents speak a language other than English at home.
Population:
1,724
Density:
195 per sq mi
Median Age:
52.3
Gender Ratio:
97 males per 100 females
Non-English Speakers Percentage:
4.2%
Ethnic Composition
White:
93.1%
Black:
0.3%
Asian:
0.6%
Others:
6.0%
Cost Of Living
What is the average cost of living in Silver Bay, MN?
Living in Silver Bay is affordable, with a median home value of $186,500 and average rents of $845 per month. The cost of living index is below the national average, making housing and everyday expenses especially budget-friendly for newcomers.
Median House Value:
$186,500
Gross Rent:
$845
Monthly Electricity Charges:
$120
Auto Insurance:
$1,140
House Owner Cost With Mortgage:
$1,070
House Owner Cost Without Mortgage:
$420
State Taxes:
Low:
5.35%
|
High:
9.85%
Cost Of Living Index:
91.8
Grocery:
96.1
Housing:
78.3
Utilities:
98.5
Transportation:
87.2
Health Care:
95.4
Miscellaneous:
90.2
Crime
Is Silver Bay, MN a safe place to live?
Silver Bay offers a low crime environment, with a violent crime rate of just 88 per 100,000 residents and a property crime rate of 1,015 per 100,000. Residents enjoy peace of mind thanks to safer-than-average odds of encountering crime compared to many U.S. communities.
Violent Crimes Per 100k:
88
Property Crimes Per 100k:
1,015
Crime Index:
1,103
Chance Of Violent Crime:
1 in 1,140
Chance Of Property Crime:
1 in 98
Weather
What is the weather like in Silver Bay, MN year-round?
Residents experience a cool northern climate, with summer highs reaching the mid-70s and winter lows around 0°F. The city receives about 29.8 inches of annual rainfall and enjoys 58% sunny days, making it ideal for those who love distinct seasons and outdoor activities.
Winter
Min:
0°F
Max:
20°F
Spring
Min:
28°F
Max:
55°F
Summer
Min:
52°F
Max:
75°F
Fall
Min:
33°F
Max:
57°F
Average Rainfall Inches:
29.8 inches
Sunny Days Percentage:
58%
Neighbors
The community features a median household income of $61,200 and a low unemployment rate of 4.2%. Most neighbors have at least a high school diploma, and commute times are short, averaging just over 12 minutes, contributing to a relaxed pace of life.
Median Income:
$38,500
Household Income:
$61,200
Family Income:
$73,900
Per Capita Income:
$28,600
Income Male:
$44,100
Income Female:
$34,200
Poverty Rate:
8.9%
Non English Speakers:
4.2%
Rent:
$845
Unemployment Rate:
4.2%
Public Transport Usage:
0.7%
Commute Time:
12.4 minutes
Education
High School or Higher:
93.8%
Bachelors or More:
23.6%
Education
How are the schools in Silver Bay, MN?
Silver Bay offers strong educational options, highlighted by William Kelley School with small class sizes and a student-teacher ratio of 12.5. While there are no private schools in town, residents benefit from nearby higher education opportunities like Lake Superior College, just 55 miles away.
Public Schools
Name:
William Kelley School
Street:
137 Banks Blvd
Phone:
218-226-4437
Students:
415
Student Teacher Ratio:
12.5
Colleges
Name:
Lake Superior College
City:
Duluth
State:
MN
Distance:
55 miles
Students:
5,200
Healthcare
Silver Bay residents have access to quality healthcare, with Lake View Hospital located nearby and a strong health insurance coverage rate of 95.9%. The area maintains a solid physician-to-resident ratio and a healthcare index that supports general wellness.
Major Hospitals
Name:
Lake View Hospital
Address:
325 11th Ave, Two Harbors, MN 55616
Phone:
(218) 834-7300
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
1.7
Health Insurance Coverage:
95.9%
Health Care Index:
78.3
Housing Market
What is the housing market like in Silver Bay, MN?
The local housing market is stable, with a median home price of $186,500 and over three-quarters of residents owning their homes. Moderate home appreciation and a vacancy rate under 6% indicate a balanced market suitable for both buyers and renters.
Median Home Price:
$186,500
Average Rent For 2 Bedroom:
$845
Owner Occupied Rate:
77.5%
Rental Vacancy Rate:
5.9%
Home Appreciation Rate (1yr):
4.1%
New Construction Rate:
0.7%
Foreclosure Rate:
0.4%
DMV Information
Driver and vehicle services for Silver Bay are provided by Minnesota Driver and Vehicle Services, with the nearest office located in Grand Rapids. Residents can access DMV resources online or by phone for licensing, registration, and other transportation needs.
State:
Minnesota
Department:
Minnesota Driver and Vehicle Services
Address:
1600 W Highway 2, Grand Rapids, MN 55744
Phone:
651-297-2126
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.