Silver Bay is a city located in Lake County Minnesota. With a 2020 population of 1,748, it is the 278th largest city in Minnesota and the 8129th largest city in the United States . Silver Bay is currently declining at a rate of -0.40% annually and its population has decreased by -7.37% since the most recent census, which recorded a population of 1,887 in 2010. Silver Bay reached it's highest population of 1,874 in 2010. Spanning over 8 miles, Silver Bay has a population density of 229 people per square mile.
The average household income in Silver Bay is $65,234 with a poverty rate of 5.11%. The median rental costs in recent years comes to $777 per month, and the median house value is $95,300. The median age in Silver Bay is 51.6 years, 49.9 years for males, and 53.3 years for females.