Silver Bay, MN demographics:
population, income, and more

Total population
1,769
-1.2% year-over-year change
Median household income
$69,489/yr
-1.9% year-over-year change
Housing units
979
-2.2% year-over-year change

Silver Bay population

How many people live in Silver Bay

Silver Bay is home to 1,769 residents, according to the most recent Census data. Gender-wise, 49.2% of Silver Bay locals are male, and 50.8% are female.

Total population
1,769
-1.2% year-over-year change
Gender ratio
Male
49.2%
870
Female
50.8%
899
Value Percent YoY change
Male 870 49.2% -0.6%
Female 899 50.8% -1.8%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Silver Bay is 48, with the population distributed as follows: about 17% are children under 15, then 8.8% are in the 15 to 24 age group. Adults between 25 and 44 make up 20.2% of the population, while another 23.9% fall into the 45 to 64 bracket. Finally, around 30.1% are 65 or older.

Median age
47.6
Age breakdown
Under 15
17%
15 to 24
8.8%
25 to 44
20.2%
45 to 64
23.9%
Over 65
30.1%
Value Percent YoY change
Under 15 301 17% -1.9%
15 to 24 156 8.8% 9.1%
25 to 44 357 20.2% 0.8%
45 to 64 423 23.9% -7.8%
Over 65 532 30.1% 0.9%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Silver Bay, 97.3% of the population are US-born citizens, while 2.3% have gained naturalized citizenship. At the same time, 0.3% of residents are non-citizens. There’s also a share of 8.1% that includes residents with two or more races.

Citizenship
U.S.-born citizens
97.3%
Non-U.S.-born citizens
2.3%
Non-citizens
0.3%
Value Percent YoY change
U.S.-born citizens 1,722 97.3% -2.4%
Non-U.S.-born citizens 41 2.3% 78.3%
Non-citizens 6 0.3% 100.0%
Racial breakdown
White
89.9%
Black or African American
0%
American Indian and Alaska Native
0%
Asian
1.4%
Native Hawaiian and other Pacific Islander
0%
Two or more races
8.1%
Other
0.6%
Value Percent
White 1,591 89.9%
Asian 25 1.4%
Two or more races 143 8.1%
Other 10 0.6%

Households in Silver Bay

A peek inside Silver Bay households

Silver Bay has 869 households, with an average of 2 members in each. Of these, 56.4% are families, while the remaining 43.6% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
869
-4.5% year-over-year change
Average people per household
2
Non-family households
379
Family households
490
Value Percent YoY change
Non-family households 379 43.6% -6.0%
Family households 490 56.4% -3.4%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Silver Bay

The housing landscape of Silver Bay

Silver Bay's housing consists of 979 units, with 91.6% being detached single-family homes ideal for those wanting space.

Housing units
979
-2.2% year-over-year change
Housing types
Value Percent
1 unit, detached 897 91.6%
10 to 19 units 51 5.2%
20 to 49 units 31 3.2%
Homes built since 2020
0
% year-over-year change

The age of buildings in Silver Bay

In Silver Bay, the median construction year is 1957. About 1.5% of homes were built before the 1940s, with another 0.9% going up by 1949. Most development happened in the second half of the 20th century.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 15 1.5% 36.4%
Built between 1940 and 1949 9 0.9% -35.7%
Built between 1950 and 1959 621 63.4% 0.7%
Built between 1960 and 1969 122 12.5% 8.0%
Built between 1970 and 1979 137 14% -1.4%
Built between 1980 and 1989 17 1.7% 112.5%
Built between 1990 and 1999 16 1.6% -27.3%
Built between 2000 and 2009 35 3.6% -49.3%
Built between 2010 and 2019 7 0.7% -12.5%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Silver Bay occupancy rates

Out of the 869 occupied housing units in Silver Bay, 80.1% are owner-occupied, while 19.9% are lived in by tenants. Meanwhile, 11.2% of all homes on the local market sit vacant.

Occupied housing units
869
-4.5% year-over-year change
Occupancy breakdown
Renter occupied
173
Owner occupied
696
Value Percent YoY
change
Renter occupied 173 19.9% -1.1%
Owner occupied 696 80.1% -5.3%
Unoccupied housing units
11.2%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Silver Bay housing costs

Housing costs in Silver Bay come to a median of $754 per month, while tenants specifically pay a median gross rent of $1,140.

Median housing costs per month
$754/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Silver Bay
$1,140/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Silver Bay

Silver Bay education at a glance

About 36% of the population in Silver Bay went to high school, while 28.6% pursued college studies. Another 14.1% earned an associate degree and 16% hold a bachelor’s. Meanwhile, 4.6% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 9 0.6% -10.0%
High school diploma 507 36% 1.0%
College diploma 403 28.6% -13.7%
Associate degree 198 14.1% 0.0%
Bachelor's degree 226 16% 9.7%
Graduate degree 65 4.6% 4.8%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Silver Bay

How much people earn in Silver Bay

The average annual household income in Silver Bay was $84,099 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +4.4% change from the previous year. At the same time, the median income stood at $69,489, reflecting a -2% shift over the same period.

Average household income in Silver Bay
$84,099/year
4.4% year-over-year change
Median household income in Silver Bay
$69,489/year
-1.9% year-over-year change

Silver Bay income by age

In Silver Bay, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $94,491. Those with someone between 45 and 64 in charge, often well established professionally, earn $60,625 overall. Younger households, where the main provider is under 25 and just starting out, report a median income of $140,337, while those led by someone over 65, many of whom may be retired, have about $46,691 in earnings. Overall, 90.1% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
Under 25 $140,337 N/A
25 - 44 $94,491 3.5%
45 - 64 $60,625 -15.7%
Over 65 $46,691 9.2%
Above poverty level
1,513
Below poverty level
166
Value Percent YoY
change
Above poverty level 1,513 90.1% -2.3%
Below poverty level 166 9.9% 9.2%

Employment in Silver Bay

Workforce and job types in Silver Bay

The job market in Silver Bay is powered by 725 working residents, spread across a range of industries and roles. 73.9% of the working population are employed in professional or administrative positions, while 26.1% are in hands-on or service-based jobs. Also, 14.2% run their own businesses, 50.2% are employed by private companies, and 31.4% work in the public sector.

Workforce demographics

Working population
725
-5.1% year-over-year change
White collar
536
Blue collar
189
Value Percent YoY change
White collar 536 73.9% -5.5%
Blue collar 189 26.1% -4.1%
Employer type
Self employees
14.2%
Private companies
50.2%
Governmental workers
31.4%
Not for profit companies
4.1%
Value Percent YoY change
Self employees 103 14.2% 17.1%
Private companies 364 50.2% -8.8%
Governmental workers 228 31.4% -7.7%
Not for profit companies 30 4.1% 0.0%
Unemployment rate
2.8%
16.7% year-over-year change

Available workforce

The unemployment rate in Silver Bay stands at 2.8%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Silver Bay

How people get around in Silver Bay

Commuting methods vary: 83.3% of residents travel by personal vehicle and 4.2% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Means of transportation
Value Percent YoY change
Car 598 83.3% -11.1%
Walk 30 4.2% 11.1%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Silver Bay by zipcode?

Zipcode Population Number of households Median income Average income
55614 2,485 1,240 $72,981 $90,584

Explore more communities

FAQs about Silver Bay demographics 

What is the total population of Silver Bay?

Silver Bay has a total population of 1,769 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by -1.2% compared to a year ago.

What is the gender ratio in Silver Bay?

The gender ratio in Silver Bay is as follows:
  • 49.2% males (870 residents)
  • 50.8% females (899 residents)

What is the median age in Silver Bay?

The median age in Silver Bay is 47.6.

What is the age distribution of the population in Silver Bay?

The age distribution in Silver Bay is as follows:
  • Under 15: 17% (301 residents)
  • Ages 15-24: 8.8% (156 residents)
  • Ages 25-44: 20.2% (357 residents)
  • Ages 45-64: 23.9% (423 residents)
  • Over 65: 30.1% (532 residents)

What is the racial and ethnic makeup of Silver Bay?

The racial and ethnic makeup of Silver Bay is as follows:
  • White: 89.9% (1,591 residents)
  • Black or African American: 0% (0 residents)
  • American Indian and Alaska Native: 0% (0 residents)
  • Asian: 1.4% (25 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 8.1% (143 residents)
  • Other: 0.6% (10 residents)

What percentage of the population in Silver Bay are U.S.-born citizens?

U.S.-born citizens represent 97.3% of the population in Silver Bay.

How many housing units are there in Silver Bay?

There are 979 housing units in Silver Bay, reflecting a -2.2% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Silver Bay and what is the average household size?

Silver Bay has a total of 869 households, with an average of 2 people in each.

What is the median household income in Silver Bay?

Silver Bay has a median household income of $69,489, representing a -1.9% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Silver Bay?

The employment rate is 97.2% in Silver Bay, with a workforce of 725 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 73.9% (536 residents)
  • Blue-collar workers: 26.1% (189 residents)

Places of employment:
  • Self-employed: 14.2% (103 residents)
  • Private companies: 50.2% (364 residents)
  • Governmental workers: 31.4% (228 residents)
  • Not-for-profit companies: 4.1% (30 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025