Silver Bay, MN Profile: Facts & Data

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Silver Bay, Minnesota - Basic Facts

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The City of Silver Bay had a population of 1,851 as of July 1, 2018. Silver Bay ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Silver Bay is located at latitude 47.2933 and longitude -91.2768 in Lake County. The formal boundaries for the City of Silver Bay (see map below) encompass a land area of 7.89 sq. miles and a water area of 0.47 sq. miles. Lake County is in the Central time zone (GMT -6). The elevation is 764 feet.

The City of Silver Bay (GNIS ID: 2395886) has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Beneath the boundary map are tables with Silver Bay population, income and housing data, five-year growth projections and peer comparisons for key demographic data. The estimates are for July 1, 2018.

Alternate Unofficial Names for Silver Bay: City of Silver Bay, Silver Bay Harbor.


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Silver Bay, MN Data & Demographics (As of July 1, 2018)

POPULATION

Total Population 1,851
Population in Households 1,775
Population in Familes 1,396
Population in Group Qrtrs 76
Population Density1 235
Diversity Index2 9
 

INCOME

Median Household Income $53,071
Average Household Income $64,891
Per Capita Income $29,362

HOUSING

Total Housing Units 990 (100%)
Owner Occupied HU 707 (71.4%)
Renter Occupied HU 109 (11.0%)
Vacant Housing Units 174 (17.6%)
Median Home Value $104,839
Average Home Value $166,419
 

HOUSEHOLDS

Total Households 816
Average Household Size 2.18
Family Households 516
Average Family Size 3
NOTES
  1. Population Density = Total Population per square mile.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different race or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.

GROWTH RATE / YEAR

2010-2017 2017-2022
Population -0.23% -0.13%
Households -0.29% -0.17%
Families -0.59% -0.27%
Median Household Income   0.75%
Per Capita Income   1.61%

Silver Bay, MN - Peer Comparisons by Rank and Percentile

The table below compares Silver Bay to the other 905 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2018 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 271 70th
Population Density # 674 26th
Diversity Index # 712 22nd
Median Household Income # 550 39th
Per Capita Income # 459 49th

Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.

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