Housing data for Silver Lake, MN
Silver Lake, MN has an estimated 815 residents and 373 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a city in McLeod County.
19.8% of households rent.
The median gross rent is $844 a month.
Figures last updated on .
- Residents
- 815 (±214)
- Housing units
- 373 (±93)
- Households that rent
- 19.8%
- Median gross rent
- $844
- Residents since 2015–2019
- −13.8%
What stands out in Silver Lake
Renters paying 30% or more of income: 14.5% (±14.5 points) in Silver Lake, lower than in McLeod County (39.7%).
Homes built before 1980: 74.2% (±21.7 points) in Silver Lake, higher than in McLeod County (52.0%).
Working from home: 4.8% (±3.2 points) in Silver Lake, lower than in McLeod County (8.8%).
Median home value: $202,600 (±$27,063) in Silver Lake, lower than in McLeod County ($246,100).
Housing in Silver Lake at a glance
- Median rent: $844 median gross rent a month (Small sample: wide margin of error)
- Rent by bedrooms: $932 median gross rent, 2 bedrooms (Small sample: wide margin of error)
- Rent burden: 14.5% of renters pay 30% or more of income (Small sample: wide margin of error)
- Renters and owners: 19.8% of households rent (Small sample: wide margin of error)
- Income and affordability: $74,432 median household income
- Home values: $202,600 median home value
- Homeowner costs: $1,402 median monthly cost with a mortgage
- Property taxes: $2,853 median real estate taxes a year
- Types of homes: 9.1% of homes are in buildings of 5 or more units
- Bedrooms: 58.7% of homes have 3 or more bedrooms
- Age of homes: 74.2% of homes were built before 1980
- Vacancy rate: 6.7% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 83.0% heat with utility gas
- Commute and cars: 25.0 minutes average trip to work
- Growth: −13.8% residents since 2015–2019 (Small sample: wide margin of error)
- How long people stay: 18.7% moved in since 2020
- Crowding and facilities: 0.0% of homes have more than 1 person per room (Small sample: wide margin of error)
Silver Lake against McLeod County, its state and the nation
| Silver Lake | McLeod County | Minnesota | United States | |
|---|---|---|---|---|
| Residents | 815 (±214) | 36,798 (exact) | 5,739,445 (exact) | 334,922,499 |
| Housing units | 373 (±93) | 15,972 (±71) | 2,545,030 (±1,535) | 143,775,355 |
| Households that rent | 19.8% (±13.8 points) | 22.6% (±2.1 points) | 27.8% (±0.2 points) | 34.8% |
| Median gross rent | $844 (±$41) | $941 (±$58) | $1,280 (±$7) | $1,413 |
| Median household income | $74,432 (±$17,063) | $80,084 (±$3,795) | $89,062 (±$409) | $80,734 |
| Median home value | $202,600 (±$27,063) | $246,100 (±$6,149) | $329,300 (±$903) | $332,700 |
| Median real estate taxes (a year) | $2,853 (±$250) | $2,840 (±$89) | $3,357 (±$10) | $3,119 |
| Built before 1980 | 74.2% (±21.7 points) | 52.0% (±3.2 points) | 52.1% (±0.3 points) | 49.7% |
| Average commute | 25.0 minutes (±4.8) | 23.0 minutes (±1.3) | 22.7 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 92.1% (±5.5 points) | 88.5% (±1.7 points) | 91.6% (±0.1 points) | 91.0% |
| Median age of residents | 43.7 years (±11.9) | 41.6 years (±0.5) | 38.8 years (±0.1) | 38.9 years |
Silver Lake covers 0.4 square miles of land, about 1,983 residents per square mile (Census Bureau Gazetteer).
How Silver Lake has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 945 (±196) | 815 (±214) | −13.8% | Not a measurable change |
| Housing units | 421 (±63) | 373 (±93) | −11.4% | Not a measurable change |
| Median gross rent | $525 (±$211) | $844 (±$41) | +60.8% | No measurable change after inflation |
| Median home value | $140,700 (±$10,049) | $202,600 (±$27,063) | +44.0% | Up after inflation |
| Median household income | $64,479 (±$11,088) | $74,432 (±$17,063) | +15.4% | No measurable change after inflation |
| Median owner cost with a mortgage | $1,185 (±$77) | $1,402 (±$352) | +18.3% | No measurable change after inflation |
| Median real estate taxes | $2,120 (±$265) | $2,853 (±$250) | +34.6% | No measurable change after inflation |
| Households that rent | 19.1% (±5.1 points) | 19.8% (±13.8 points) | +0.7 percentage points | Not a measurable change |
| Rental vacancy rate | 0.0% (±20.9 points) | 6.7% (±15.5 points) | +6.7 percentage points | Not a measurable change |
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.
Crime reported to police in McLeod County
Silver Lake has no police department of its own in the FBI’s figures, so this is the figure for McLeod County as a whole.
In 2025, the police departments that report for McLeod County recorded 100 violent and 686 property crimes per 100,000 residents.
A county-wide figure describes the whole county, not this place; crime varies from one community to the next.
Places near Silver Lake
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Hale Township | 1.9 mi | $1,047 | $302,300 | 6.1% |
| Rich Valley Township | 3.3 mi | — | $305,500 | 4.6% |
| Hutchinson Township | 5.8 mi | — | $403,200 | 2.4% |
| Winsted Township | 6.4 mi | $1,714 | $428,600 | 4.0% |
| Biscay | 6.5 mi | — | $188,900 | 2.8% |
| Hassan Valley Township | 7.0 mi | — | $319,300 | 4.0% |
| Bergen Township | 7.8 mi | $1,344 | $389,200 | 8.2% |
| Lester Prairie | 8.0 mi | $688 | $237,400 | 14.2% |
Places in Minnesota most like Silver Lake
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Waterville | $884 | $236,000 | $76,406 | 23.7% |
| Winthrop | $776 | $169,600 | $69,219 | 18.7% |
| Mapleton | $782 | $181,900 | $80,909 | 24.0% |
| Lake Crystal | $825 | $204,400 | $83,317 | 16.7% |
| Madelia | $833 | $165,400 | $76,548 | 21.2% |
| Caledonia | $839 | $157,900 | $76,477 | 25.6% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across Minnesota.
HUD Fair Market Rent for Silver Lake, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $882 | $951 | $1,073 | $1,278 | $1,593 |
HUD income limits for Silver Lake, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $22,550 | $37,600 | $60,100 |
| 2 people | $25,800 | $42,950 | $68,700 |
| 3 people | $29,000 | $48,300 | $77,300 |
| 4 people | $33,000 | $53,650 | $85,850 |
| 5 people | $38,680 | $57,950 | $92,750 |
| 6 people | $44,360 | $62,250 | $99,600 |
| 7 people | $50,040 | $66,550 | $106,500 |
| 8 people | $55,720 | $70,850 | $113,350 |
These are the limits HUD sets for its housing programs in the McLeod County, MN, where HUD’s median family income for fiscal year 2026 is $107,300.
A program can use its own limits; tax-credit and local programs often do.
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 Lake
What is the median household income in Silver Lake?
The median household income in Silver Lake is $74,432 (±$17,063) a year (2020–2024 American Community Survey).
What is the average home value in Silver Lake, MN?
The Census Bureau publishes the median: $202,600 (±$27,063) for owner-occupied homes in Silver Lake (2020–2024 American Community Survey).
What is the average mortgage payment in Silver Lake?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Silver Lake, MN is $1,402 (±$352) a month, including taxes, insurance and utilities.
How much are property taxes in Silver Lake?
The median real estate tax paid by homeowners in Silver Lake, MN is $2,853 (±$250) a year (2020–2024 American Community Survey).
How many homes are in Silver Lake?
Silver Lake, MN has an estimated 373 (±93) housing units, occupied and vacant (2020–2024 American Community Survey).
What is the most common home size in Silver Lake?
The most common size is 3 bedrooms, 39.9% of homes in Silver Lake, MN.
Is Silver Lake growing?
In Silver Lake, the number of residents went from 945 in 2015–2019 to 815 in 2020–2024 (−13.8%), not a measurable change.
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Silver Lake city, Minnesota
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Silver Lake city, Minnesota
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Silver Lake city, Minnesota
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Silver Lake city, Minnesota
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Silver Lake city, Minnesota
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Silver Lake city, Minnesota
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Silver Lake city, Minnesota
- HUD Fair Market Rents, fiscal year 2027: McLeod County, MN
- HUD Income Limits, fiscal year 2026: McLeod County, MN
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
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) for Silver Lake city, Minnesota (place:60376, in state:27).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
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.
Figures last updated on .