What percentage of people rent in Silver Bay, MN?

Name: Renters and owners in Silver Bay, MN, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

19.9% (±6.4 points) of the occupied homes in Silver Bay, MN are rented (2020–2024 American Community Survey).

That is 173 renting households against 696 that own their home.

In Silver Bay, the share of households that rent went from 15.4% in 2015–2019 to 19.9% in 2020–2024 (+4.5 percentage points), not a measurable change.

Figures last updated on November 12, 2026.

Households that rent: 19.9% (±6.4 points)
Renting households: 173 (±60)
Median renter income: $92,917 (±$45,585)

Who rents and who owns in Silver Bay

Tenure, estimate (90% margin of error)
	Silver Bay	Lake County	Minnesota	United States
Renter-occupied share	19.9% (±6.4 points)	16.5% (±2.7 points)	27.8% (±0.2 points)	34.8%
Renting households	173 (±60)	817 (±148)	641,268 (±4,528)	45,017,354
Owning households	696 (±82)	4,125 (±167)	1,666,687 (±7,556)	84,210,142
Average renter household size	2.5 (±0.5)	2.0 (±0.3)	2.0 (±0.0)	2.3
Average owner household size	1.8 (±0.1)	2.2 (±0.1)	2.6 (±0.0)	2.6
Median renter household income	$92,917 (±$45,585)	$50,750 (±$20,368)	$51,080 (±$531)	$52,966
Median owner household income	$68,068 (±$15,779)	$79,988 (±$4,175)	$108,214 (±$476)	$100,009

In Silver Bay, the renter share is not measurably different from Lake County (16.5%).

It is also lower than in Minnesota (27.8%).

It is lower than the national figure (34.8%).

In Lake County, Silver Bay ranks 2 of 8 places with a published estimate, from highest to lowest renter share.

Statewide, it ranks 583 of 2,628.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How renting in Silver Bay has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Households that rent	15.4% (±5.4 points)	19.9% (±6.4 points)	+4.5 percentage points	Not a measurable change
Median gross rent	$777 (±$92)	$1,140 (±$109)	+46.7%	Up after inflation
Median household income	$47,639 (±$6,461)	$69,489 (±$14,321)	+45.9%	No measurable change after inflation

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Households that rent in places near Silver Bay

Nearest places with a published estimate, compared with Silver Bay
Place	Distance	Households that rent	Compared with this place
Silver Bay	—	19.9% (±6.4 points)	—
Beaver Bay	2.9 mi	4.2% (±6.6 points)	Lower
Beaver Bay Township	6.1 mi	3.5% (±3.1 points)	Lower
Silver Creek Township (Lake County)	15 mi	4.7% (±3.0 points)	Lower
Crystal Bay Township	23 mi	10.3% (±8.2 points)	Not measurably different
Two Harbors	26 mi	31.8% (±6.9 points)	Higher
Pequaywan Township	28 mi	0.0% (±26.9 points)	Not measurably different
Stony River Township	28 mi	6.7% (±5.9 points)	Lower
Fairbanks Township	31 mi	0.0% (±27.9 points)	Not measurably different

Nearby places with a measurably lower figure: Beaver Bay, MN (4.2%), Beaver Bay Township, MN (3.5%), Silver Creek Township (Lake County), MN (4.7%).

Nearby places with a measurably higher figure: Two Harbors, MN (31.8%).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Households that rent across Lake County, place by place

Rank	Place	Households that rent
1	Two Harbors	31.8% (±6.9 points)
2	Silver Bay	19.9% (±6.4 points)
3	Crystal Bay Township	10.3% (±8.2 points)
4	Stony River Township	6.7% (±5.9 points)
5	Fall Lake Township	5.2% (±3.5 points)
6	Silver Creek Township (Lake County)	4.7% (±3.0 points)
7	Beaver Bay	4.2% (±6.6 points)
8	Beaver Bay Township	3.5% (±3.1 points)

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Silver Bay

How many renters are there in Silver Bay?

Silver Bay has an estimated 173 (±60) renting households, 19.9% of its occupied homes (2020–2024 American Community Survey).

Is renting growing in Silver Bay?

In Silver Bay, the share of households that rent went from 15.4% in 2015–2019 to 19.9% in 2020–2024 (+4.5 percentage points), not a measurable change.

How big are renting households in Silver Bay?

A renting household in Silver Bay has 2.5 people on average, against 1.8 in an owned home.

How much do renters earn in Silver Bay?

The median renting household in Silver Bay, MN has an income of $92,917 (±$45,585) a year, against $68,068 for households that own their home.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Silver Bay city, Minnesota (place:60250, in state:27).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are DP04_0047PE, DP04_0047PM, B25064_001E, B25064_001M, B19013_001E, B19013_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0047PE, DP04_0047PM, DP04_0047E, DP04_0047M, DP04_0046E, DP04_0046M, DP04_0049E, DP04_0049M, DP04_0048E, DP04_0048M, B25119_003E, B25119_003M, B25119_002E, B25119_002M

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.