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MN area data

Silver Bay, MN

Silver Bay, MN.

Population: 2,485 (Census ACS)

Home values & appreciation

Median home value
$190,157
1-year appreciation
+1.1%
3-year appreciation
+9.5%
5-year appreciation
+32.0%
10-year appreciation
+100.5%
All-time peak (2025-02)
$195,484
House Price Index
429.3 (+3.3% YoY)

Market activity

1-year forecast
+1.4%
New listings (monthly)
8

Affordability

Cost of living index (Average)
97.5 (100 = US avg)
Electricity rate (state-level)
15.8¢/kWh
Natural gas rate (state-level)
$11.00/MCF
30-year mortgage rate (national)
6.66%
15-year mortgage rate (national)
6.00%

Schools

Total schools
2
Elementary schools
1
Middle schools
0
High schools
1

Natural hazards & flood risk

Overall hazard risk
Very Low
Top hazards
strongWind, coldWave, lightning, winterWeather

Climate (30-year normals)

Average annual temperature
39.0°F
Average high
49.0°F
Average low
30.0°F
Annual precipitation
33.6 in

Air quality

Air quality rating
Good
Median AQI (annual)
36
Days with Good air quality
282

Amenities

National parks within ~60 mi
1
Nearest national park
Apostle Islands National Lakeshore (38 mi)
Nearest airport
Weideman International Airport (26 mi)
Nearest major airport
Ely Municipal Airport (LYU) (43 mi)
Hospitals nearby (~15 mi)
1,090
Avg hospital rating
3.1 / 5
Solar radiation rating
Fair (3.7 kWh/m²/day)

Migration

Net migration
+16 tax filers

Housing stock

Median year housing built
1,961
Median annual property tax
$1,421
Mean commute to work
19 min
Households with broadband internet
66.7%

Employment & development

Total county employment
2,953
Average weekly wage
$998
Top industries (by employment)
Accommodation & Food, Other Services, Arts & Entertainment
Annual residential building permits (county)
1

Area data compiled from public government, academic, and industry research feeds. Data sources →

Data last updated

Most recent source refresh: Aug 2026. See all data sources →

Data compiled by REAIGENT7 — AI listing platform for real estate agents