USA.com / Minnesota / Lake County / Silver Bay, MN / Housing

Silver Bay, MN Housing

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As of 2010-2014, median price of a house in Silver Bay is $92,300, which is much lower than the state average of $185,200 and is much lower than the national average of $175,700. The Silver Bay median house value has grown by 94.32% since 2000. The growth rate for the price of a house in Silver Bay is much higher than the state average rate of 51.31% and is much higher than the national average rate of 46.91%. The median year that a house in Silver Bay was built is 0, which is older than the median year for a house built in the state which is 1975 and is older than the median year for a house built in the USA which is 1976.

Topics:House Value Housing Occupancy Year Structure Built Mortgage Status Mortgage Owner's Costs None-Mortgage Owner's Costs Units in Structure Rooms Bedrooms House Heating Fuel Gross Rent Vehicle Available

House Value

Median Value of a Total of 723 Owner Occupied Houses in Silver Bay, MN, #503

Silver Bay, MN	92,300 USD
Minnesota	185,200 USD
U.S.	175,700 USD

Median House Price Growth Since 2000, #128

Silver Bay, MN	94.32%
Minnesota	51.31%
U.S.	46.91%

Ranks: $50K or Less, $50-100K, $100-150K, $150-200K, $200-300K, $300-500K, $500-1M, $1M or More

*Based on 2010-2014 data. View historical house value data.

Housing Occupancy

	Silver Bay, MN	Minnesota	U.S.
Total Housing Units	1,086, see rank, 100%	2,364,149	132,741,033
Occupied Housing Units	845, 77.81%, see rank	89.48%	87.55%
Owner Occupied	723, 66.57%, see rank	64.51%	56.34%
Renter Occupied	122, 11.23%, see rank	24.96%	31.21%
Vacant Housing Units	241, 22.19%, see rank	10.52%	12.45%
For Rent	0, 0.00%, see rank	1.22%	2.34%
For Sale Only	35, 3.22%, see rank	0.96%	1.20%
Rented or Sold, Not Occupied	0, 0.00%, see rank	0.68%	0.92%
For Seasonal, Recreational, or Occasional Use	167, 15.38%, see rank	5.29%	3.97%
For Migrant Workers	0, 0.00%, see rank	0.01%	0.03%
Other Vacant	39, 3.59%, see rank	2.36%	4.00%

*Based on 2010-2014 data. View historical housing occupancy data.

Year Structure Built

Ranks: 1995 or earlier, 1960-1969, 1970-1979, 1980-1989, 1990-2000, 2000-2010

*Based on 2010-2014 data. View historical year structure built data.

Mortgage Status

	Silver Bay, MN	%	Minnesota	U.S.
Owner-Occupied Units	723	100%	1,525,201	74,787,460
With a Mortgage	416	57.54%, see rank	68.78%	65.58%
Without a Mortgage	307	42.46%, see rank	31.22%	34.42%

*Based on 2010-2014 data. View historical mortgage status data.

Monthly Owner Costs for Housing Units with a Mortgage

Median Owner Costs, see rank

Silver Bay, MN	934 USD
Minnesota	1,526 USD
U.S.	1,522 USD

Owner Costs Distribution

Monthly Owner Costs	Silver Bay, MN	%	Minnesota	U.S.
$299 or Less	0	0.00%, see rank	0.18%	0.20%
$300 to $499	11	2.64%, see rank	1.30%	1.59%
$500 to $699	61	14.66%, see rank	4.08%	5.01%
$700 to $999	186	44.71%, see rank	12.50%	14.32%
$1,000 to $1,499	137	32.93%, see rank	30.43%	27.90%
$1,500 to $1,999	15	3.61%, see rank	25.36%	20.35%
$2,000 to $2,999	6	1.44%, see rank	19.32%	19.52%
$3,000 or More	0	0.00%, see rank	6.84%	11.12%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank

Silver Bay, MN	22.10% of the Total Income
Minnesota	22.50% of the Total Income
U.S.	23.70% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution

	Silver Bay, MN	%	Minnesota	U.S.
10% or Less	41	9.86%, see rank	6.13%	5.86%
10% to 20%	145	34.86%, see rank	35.03%	31.95%
20% to 30%	78	18.75%, see rank	30.01%	27.64%
30% to 40%	23	5.53%, see rank	12.88%	13.74%
40% or More	129	31.01%, see rank	15.67%	20.29%

*Based on 2010-2014 data. View historical monthly owner costs for housing units with a mortgage data.

Monthly Owner Costs for Housing Units without a Mortgage

Median Owner Costs, see rank

Silver Bay, MN	351 USD
Minnesota	475 USD
U.S.	457 USD

Owner Costs Distribution

Monthly Owner Costs	Silver Bay, MN	%	Minnesota	U.S.
$199 or Less	4	1.30%, see rank	4.45%	7.76%
$200 to $299	79	25.73%, see rank	10.96%	14.70%
$300 to $499	178	57.98%, see rank	39.99%	34.63%
$500 to $699	29	9.45%, see rank	27.38%	21.16%
$700 or More	17	5.54%, see rank	17.23%	21.75%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank

Silver Bay, MN	13.00% of the Total Income
Minnesota	11.50% of the Total Income
U.S.	12.30% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution

	Silver Bay, MN	%	Minnesota	U.S.
10% or Less	96	31.27%, see rank	43.57%	40.19%
10% to 20%	116	37.79%, see rank	31.28%	31.47%
20% to 30%	67	21.82%, see rank	11.58%	12.24%
30% to 40%	12	3.91%, see rank	5.05%	5.64%
40% or More	12	3.91%, see rank	7.69%	9.16%

*Based on 2010-2014 data. View historical monthly owner costs for housing units without a mortgage data.

Units in Structure

	Silver Bay, MN	Minnesota	U.S.
Total Housing Units	1,086, 100%	2,364,149	132,741,033
1-unit, Detached	996, 91.71%, see rank	67.25%	61.65%
1-unit, Attached	0, 0.00%, see rank	7.45%	5.82%
2 Units	0, 0.00%, see rank	2.34%	3.75%
3 or 4 Units	0, 0.00%, see rank	2.08%	4.43%
5 to 9 Units	0, 0.00%, see rank	2.23%	4.78%
10 or More Units	87, 8.01%, see rank	15.14%	13.08%
Mobile Home, Boat, RV, Van, etc.	3, 0.28%, see rank	3.52%	6.49%

*Based on 2010-2014 data. View historical units in structure data.

Rooms

	Silver Bay, MN	Minnesota	U.S.
Total Housing Units	1,086, 100%	2,364,149	132,741,033
1 Room	7, 0.64%, see rank	1.54%	1.95%
2 Rooms	0, 0.00%, see rank	2.83%	2.48%
3 Rooms	32, 2.95%, see rank	9.20%	9.13%
4 Rooms	269, 24.77%, see rank	14.05%	16.60%
5 Rooms	384, 35.36%, see rank	15.52%	20.41%
6 Rooms	131, 12.06%, see rank	14.98%	18.06%
7 Rooms	126, 11.60%, see rank	12.86%	12.27%
8 Rooms	57, 5.25%, see rank	11.01%	8.48%
9 Rooms or More	80, 7.37%, see rank	18.01%	10.60%
Median Rooms	5.10, see rank	6.00	5.50

*Based on 2010-2014 data. View historical rooms data.

Bedrooms

	Silver Bay, MN	Minnesota	U.S.
Total Housing Units	1,086, 100%	2,364,149	132,741,033
No Bedroom	7, 0.64%, see rank	1.76%	2.17%
1 Bedroom	50, 4.60%, see rank	11.71%	11.16%
2 Bedrooms	367, 33.79%, see rank	26.64%	26.69%
3 Bedrooms	496, 45.67%, see rank	34.15%	39.70%
4 Bedrooms	136, 12.52%, see rank	19.81%	16.05%
5 or More Bedrooms	30, 2.76%, see rank	5.94%	4.22%

*Based on 2010-2014 data. View historical bedrooms data.

House Heating Fuel

	Silver Bay, MN	Minnesota	U.S.
Total Housing Units	845, 100%	2,115,337	116,211,092
Utility Gas	688, 81.42%, see rank	66.78%	48.85%
Bottled, Tank, or LP Gas	26, 3.08%, see rank	10.05%	4.86%
Electricity	75, 8.88%, see rank	16.13%	36.68%
Fuel Oil, Kerosene, etc.	39, 4.62%, see rank	2.62%	5.86%
Coal or Coke	0, 0.00%, see rank	0.03%	0.12%
Wood	17, 2.01%, see rank	2.55%	2.12%
Solar Energy	0, 0.00%, see rank	0.02%	0.05%
Other Fuel	0, 0.00%, see rank	1.17%	0.47%
No Fuel Used	0, 0.00%, see rank	0.65%	1.00%

*Based on 2010-2014 data. View historical house heating fuel data.

Gross Rent

Monthly Rental	Silver Bay, MN	Minnesota	U.S.
Occupied Units Paying Rent	109, 100%	562,198	39,201,928
$199 or Less	0, 0.00%, see rank	2.46%	1.50%
$200 to $299	6, 5.50%, see rank	4.66%	3.18%
$300 to $499	11, 10.09%, see rank	9.32%	7.37%
$500 to $699	57, 52.29%, see rank	17.06%	16.01%
$700 to $999	35, 32.11%, see rank	33.30%	29.17%
$1,000 to $1,499	0, 0.00%, see rank	23.49%	26.88%
$1,500 to $1,999	0, 0.00%, see rank	7.02%	9.79%
$2,000 or More	0, 0.00%, see rank	2.69%	6.10%
Median	$666, see rank	$835	$920

*Based on 2010-2014 data. View historical gross rent data.

Vehicle Available

	Silver Bay, MN	Minnesota	U.S.
Occupied Housing Units	845, 100%	2,115,337	116,211,092
No Vehicles Available	49, 5.80%, see rank	7.25%	9.12%
1 Vehicles Available	303, 35.86%, see rank	30.11%	33.80%
2 Vehicles Available	334, 39.53%, see rank	40.67%	37.48%
3 or More Vehicles Available	159, 18.82%, see rank	21.97%	19.61%

*Based on 2010-2014 data. View historical vehicle available data.