Silver Bay is a city located in Lake County Minnesota. Silver Bay has a 2024 population of 1,820. Silver Bay is currently declining at a rate of -0.55% annually and its population has decreased by -2.26% since the most recent census, which recorded a population of 1,862 in 2020.
The average household income in Silver Bay is $79,234 with a poverty rate of 8.67%. The median rental costs in recent years comes to - per month, and the median house value is -. The median age in Silver Bay is 48.7 years, 43.4 years for males, and 54.2 years for females.
According to the most recent ACS, the racial composition of Silver Bay was:
White
Two or more races
Asian
Black or African American
Native American
Native Hawaiian or Pacific Islander
Other race
Household Type | Count | Average Size | Owner | Renter |
|---|---|---|---|---|
| All | 826 | 1.94 | 81.6 | 18.4 |
| Non Family | 346 | 1.07 | 75.7 | 24.3 |
| Married | 340 | 2.54 | 92.4 | 7.6 |
| Female | 126 | 2.71 | 66.7 | 33.3 |
| Male | 14 | 2.07 | 100 | 0 |
2.52
Average Family Size
1.94
Average Household Size
81.6%
Rate of Home Ownership
Married
Male
Female
NonFamily
owner
renter
Male
Female
Less Than 9th Grade
9th to 12th Grade
High School Graduate
Some College
Associates Degree
Bachelors Degree
Graduate Degree
High School Graduation Rate
Bachelors Rate
The highest rate of high school graduation is among asian people with a rate of 100%.
The highest rate of bachelors degrees is among hispanic people with a rate of 100%.
All
Male
Female
$45,802
Average Earnings
$59,167
Average Male
$39,205
Average Female
Only English
Spanish
Other Indo-European Languages
Asian and Pacific Island Languages
Other Languages
97.72% of Silver Bay residents speak only English, while 2.28% speak other languages. The non-English language spoken by the largest group is Other languages, which is spoken by 0.95% of the population.
rate
8.67%
Overall Poverty Rate
7.26%
Male Poverty Rate
10.01%
Female Poverty Rate
The race most likely to be in poverty in Silver Bay is White, with 9.3% below the poverty level.
The race least likely to be in poverty in Silver Bay is Multiple, with 1.87% below the poverty level.
The poverty rate among those that worked full-time for the past 12 months was 0.43%. Among those working part-time, it was 5.92%, and for those that did not work, the poverty rate was 21.4%.
Married
Widowed
Divorced
Separated
NeverMarried
52.1%
Overall Marriage Rate
56.2%
Male Marriage Rate
48.5%
Female Marriage Rate
male
female
The age group where males are most likely to be married is 45-54, while the female age group most likely to be married is 35-44.
Married
Widowed
Divorced
Separated
NeverMarried
Less Than 9th Grade
High School Graduate
Some College
Bachelors or Greater
18.63%
Veteran Poverty Rate
45.1%
Veteran Disability Rate
LaborForceParticipation
53.4%
Labor Force Participation
51.3%
Employment Rate
3.9%
Unemployment Rate
LaborForceParticipation
LaborForceParticipation
Europe
Asia
Africa
Oceania
Latin America
North America
Non citizens include legal permanent residents (green card holders), international students, temporary workers, humanitarian migrants, and illegal immigrants.
Europe
Asia
Africa
Oceania
Latin America
North America
81.01%
Born in Silver Bay
99.29%
Native Born
0.71%
Foreign Born
0.3%
Non Citizen
0.41%
Naturalized
99.29% of Silver Bay residents were born in the United States, with 81.01% having been born in Minnesota. 0.3% of residents are not US citizens. Of those not born in the United States, the largest percentage are from Asia.
Year | Population | Growth | Growth Rate |
|---|---|---|---|
| 2029 | 1,767 | -11 | -0.62% |
| 2028 | 1,778 | -10 | -0.56% |
| 2027 | 1,788 | -11 | -0.61% |
| 2026 | 1,799 | -10 | -0.55% |
| 2025 | 1,809 | -11 | -0.6% |
| 2024 | 1,820 | -10 | -0.55% |
| 2023 | 1,830 | -11 | -0.6% |
| 2022 | 1,841 | -26 | -1.39% |
| 2021 | 1,867 | 5 | 0.27% |
| 2020 | 1,862 | 102 | 5.8% |
| 2019 | 1,760 | -9 | -0.51% |
| 2018 | 1,769 | 13 | 0.74% |
| 2017 | 1,756 | -14 | -0.79% |
| 2016 | 1,770 | -15 | -0.84% |
| 2015 | 1,785 | -19 | -1.05% |
| 2014 | 1,804 | -23 | -1.26% |
| 2013 | 1,827 | -23 | -1.24% |
| 2012 | 1,850 | -4 | -0.22% |
| 2011 | 1,854 | -20 | -1.07% |
| 2010 | 1,874 | 0 | 0% |