HomeMinnesotaLake CountySilver Bay city
Silver Bay city, Minnesota: commercial real estate data.
Silver Bay city is a Census city of 1,769 people across 7.63 square miles of land, in Lake County. Median household income is $69,489, 80.1 percent of occupied homes are owned, and the SBA record carries 2 7(a) approvals to borrowers here worth $4.0 m.
76 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Silver Bay
What Silver Bay is
- Census place typecity
- Land area7.63 sq mi
- Water area0.43 sq mi
- Population per square mile of land232
- County holding the largest share of its areaLake County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Silver Bay
How many people live in Silver Bay
- Population1,769
- Median age47.6
- Population under 18361 plus or minus 88
- Share under 1820.4 percent plus or minus 4.6
- Population 65 and over532
- Share 65 and over30.1 percent
- Households869
- Family households490
- Share of households that are families56.4 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Silver Bay
Income and work in Silver Bay
- Median household income$69,489 plus or minus $14,321
- Per capita income$41,711
- Civilian labor force746
- Employed725
- Unemployed21 plus or minus 18
- Unemployment rate2.8 percent plus or minus 2.4
- Adults 25 and over1,312
- Adults 25 and over with a high school diploma or higher96.6 percent
- Adults 25 and over with a bachelor degree or higher21.8 percent plus or minus 4.9
- Adults 25 and over with a graduate degree5.0 percent plus or minus 2.4
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Silver Bay
Housing in Silver Bay
- Housing units979
- Occupied units869
- Vacant units110 plus or minus 70
- Vacancy rate11.2 percent plus or minus 7.1
- Owner occupied696
- Renter occupied173 plus or minus 60
- Ownership rate80.1 percent
- Median owner-occupied home value$158,900
- Median gross rent, monthly$1,140
- Annual rent as a share of median income19.7 percent plus or minus 4.5
- Single family units897
- Share single family91.6 percent
- Units in buildings of two or more82 plus or minus 44
- Share in buildings of two or more8.4 percent plus or minus 4.4
- Mobile homes0
- Median year structure built1957
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Silver Bay
How Silver Bay gets to work
- Workers 16 and over who commute628
- Commuting under 15 minutes369 plus or minus 85
- Share commuting under 15 minutes58.8 percent
- Commuting 30 minutes or more231 plus or minus 82
- Share commuting 30 minutes or more36.8 percent plus or minus 11.5
- Drove alone78.4 percent
- Carpooled4.9 percent plus or minus 3.3
- Public transport0.0 percent
- Walked4.2 percent plus or minus 3.4
- Worked from home12.5 percent plus or minus 4.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Silver Bay
SBA loans in Silver Bay (7(a))
- Approvals2
- Gross approval$4,000,000
- Average approval$2,000,000
- Median approval$2,000,000
- Ninetieth percentile approval$2,000,000
- Largest approval$2,000,000
- Jobs supported30
- Jobs per approval15.0
- Loans with a final outcome0
- Paid in full0
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises0.0 percent
- Distinct lenders1
- Distinct industries by NAICS2
A charge-off rate is not published here. only 0 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Silver Bay
SBA loans in Silver Bay (504)
- Approvals1
- Gross approval$983,000
- Average approval$983,000
- Median approval$983,000
- Largest approval$983,000
- Jobs supported8
- Loans with a final outcome1
- Charged off0
- Median term240 months
- Distinct CDCs1
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Lake County, not Silver Bay
Lake County context, not Silver Bay figures
These are Lake County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Silver Bay measurements.
- Establishments in Lake County340
- Employment at those establishments, Lake County3,213
- Covered employment, Lake County3,902
- Average annual pay, Lake County$54,467
- Average weekly wage, Lake County$1,047
- Housing units permitted, Lake County75
- Of those, single family, Lake County75
- County product, 2024, Lake County$564,711,000
- County product change over the prior year, Lake County-15.4 percent
- Average income of an arriving household, Lake County$67,278
Every figure in this section is published for Lake County as a whole and is not a measurement of Silver Bay. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Silver Bay questions, answered from the record.
How many people live in Silver Bay, Minnesota?
1,769, in 869 households. Silver Bay city covers 7.63 square miles of land, which is 232 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Silver Bay in?
Lake County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Silver Bay?
$69,489. The median owner-occupied home is valued at $158,900. Median gross rent is $1,140 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Silver Bay businesses?
2 7(a) approvals totalling $4.0 m, across 1 lenders, median approval $2,000,000, plus 1 504 approvals worth $983,000. These count approvals to borrowers whose address is in Silver Bay, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Silver Bay borrowers get paid back?
No rate is published for Silver Bay. only 0 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Silver Bay figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Lake County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Silver Bay.
Is zoning published for Silver Bay?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.
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