HomeMinnesotaLake CountySilver Bay
Silver Bay, Minnesota: commercial real estate data.
Silver Bay 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 since FY2020.
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
- 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
Counted by borrower city: approvals to borrowers whose address is in Silver Bay, in any county, FY2020 to FY2026. Only 0 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
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
Counted by borrower city: approvals to borrowers whose address is in Silver Bay, in any county, FY2010 to FY2026. Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Silver Bay
Flood risk in Silver Bay
- NFIP communityCity of Silver Bay
- NFIP community number270603
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date(NSFHA)
The City of Silver Bay participates in the National Flood Insurance Program as community 270603 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Lake County, not Silver Bay
Lake County context, not Silver Bay figures
- Establishments in Lake County340
- Covered employment, Lake County3,902
- Average annual pay, Lake County$54,467
- Housing units permitted, Lake County75
Every figure in this section is published for Lake County as a whole and is not a measurement of Silver Bay.
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.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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 totaling $4.0 m since FY2020, across 1 lenders, median approval $2,000,000, plus 1 504 approvals worth $983,000 since FY2010. 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 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Silver Bay in the National Flood Insurance Program?
Yes. Silver Bay appears in the FEMA Community Status Book as Silver Bay, city of, community 270603, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Silver Bay figures?
No, and they are labeled 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?
No. Nothing on this page presents parcel level zoning.
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