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CITY

Silver Lake

Minnesota · 849 residents (2025 est.) · 0.411 sq mi
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The short version

Silver Lake has roughly average household income, with a median household income of $74,432. Population has held roughly steady since 2000. 11% of adults hold a bachelor's degree or higher, below the national rate of 36%. Median home value has more than doubled since 2000, reaching $202,600. Poverty is rare here, at 3.3% of residents.

At a glance
Lower income
below the US median
US median: $82,259
Older
median age 43.7
US median: 38.9
Less educated
11% hold a bachelor's degree
US average: 36%
Less affordable
home values up 37%, inflation adjusted
US median home: $376,019
Section 01

Population & growth

Total population
815
+7%since 2000
from 761 in 2000
1990 – 2025
Population density
1,983 / sq mi
+7%since 2000
from 1,852 / sq mi in 2000
US average: 281
Median age
43.7
+25%since 2000
from 35.0 in 2000
US average: 38.9

PEP 2025 EST:849 residents (Census Bureau Vintage 2025, released March 2026)

Population, 1990 – 2024
6847608379139901990201020202024Silver Lake
2024815
1990201020202024
Section 02

Income & economy

Median household income
$74,432
+11%inflation adjusted, since 2000
from $36,833 in 2000
US average: $82,259
1990 – 2024
Per capita income
$40,169
+122%since 2000
from $18,126 in 2000
US average: $44,673
Households earning $100K+
49.3%
+34.2 ptssince 2009
from 15.1% in 2009
US average: 53.3%
Poverty rate
3.3%
−4.0 ptssince 2000
from 7.3% in 2000
US average: 12.5%
Income inequality (Gini)
0.306
−20%since 2010
from 0.380 in 2010
US average: 0.476
Workforce by industry, 2024
Retail trade28.1%
US avg: 9.9%
Finance & insurance13%
US avg: 5.9%
Wholesale trade12.1%
US avg: 6.9%
Professional, scientific, technical12.1%
US avg: 5.1%
Information4.8%
US avg: 10.8%
Arts, entertainment, food2.4%
US avg: 1.9%
Transportation & warehousing1.5%
US avg: 2.2%
Other services1.1%
US avg: 6.7%
Education & health services0.9%
US avg: 0.9%
Public administration0.6%
US avg: 4.8%
Agriculture, forestry, fishing0.2%
US avg: 1.6%
Construction0.2%
US avg: 1.2%
Manufacturing0%
US avg: 0.4%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$202,600
+37%inflation adjusted, since 2000
from $81,400 in 2000
US average: $376,019
1990 – 2024
Median gross rent
$844
+29%inflation adjusted, since 2000
from $360 in 2000
US average: $1,442
Owner-occupied
80.2%
+4.1 ptssince 2000
from 76.1% in 2000
19.8% rent
Vacancy rate
5.4%
+1.2 ptssince 2009
from 4.1% in 2009
US average: 10.0%
Owner cost-burdened
14.5%
−13.3 ptssince 2009
from 27.8% in 2009
US average: 22.9%
Renter cost-burdened
14.3%
−56.8 ptssince 2009
from 71.1% in 2009
US average: 47.4%
Afford Score
2.7
+23%since 2000
from 2.2 in 2000
1990 – 2024
Gentrification Score
40
RELATED:See current rent listings in Silver Lake on RentDataNow
Section 04

Race & ethnicity

2000
White, non-Hispanic98.9%(753)
Black0.1%(1)
Hispanic / Latino0.7%(5)
Asian0%(0)
Other0%
Diversity Score2%(15)
2024
White, non-Hispanic93.3%(760)
Black0.5%(4)
Hispanic / Latino2.5%(20)
Asian0%(0)
Other3.8%(31)
Diversity Score16%(131)
Diversity Score
16
+717%since 2000
from 2 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
10.8%
+2.1 ptssince 2000
from 8.7% in 2000
US average: 35.6%
High school or higher
84.9%
+4.3 ptssince 2000
from 80.6% in 2000
US average: 89.6%
Graduate degree
3.6%
+1.1 ptssince 2000
from 2.5% in 2000
US average: 14.0%
Section 06

Commute & transportation

Average commute
25.0 min
+41%since 2000
from 17.8 min in 2000
US average: 26.5
Drive alone to work
88.3%
+0.6 ptssince 2009
from 87.8% in 2009
US average: 68.9%
Carpooled to work
4.0%
−2.1 ptssince 2009
from 6.1% in 2009
US average: 8.5%
Public transit
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 3.2%
Worked from home
4.8%
+0.7 ptssince 2009
from 4.2% in 2009
US average: 15.0%
Walked to work
1.8%
−0.2 ptssince 2009
from 2.0% in 2009
US average: 2.4%
Biked to work
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 0.4%
No vehicle available
3.4%
−0.3 ptssince 2009
from 3.7% in 2009
US average: 8.3%
Section 07

Work & employment

Unemployment rate
5.3%
−2.8 ptssince 2011
from 8.1% in 2011
US average: 5.2%
Labor force participation
70.5%
+2.5 ptssince 2011
from 68.0% in 2011
US average: 63.5%
Self-employed
6.9%
+1.6 ptssince 2009
from 5.3% in 2009
US average: 13.1%
Management & professional
27.4%
−27.5 ptssince 2009
from 54.9% in 2009
US average: 42.5%
Section 08

People & community

Male
57.2%
+7.4 ptssince 2009
from 49.8% in 2009
Female
42.8%
−7.4 ptssince 2009
from 50.2% in 2009
Foreign born
0.4%
−0.6 ptssince 2009
from 1.0% in 2009
US average: 14.1%
Veterans
6.3%
−47.0 ptssince 2009
from 53.3% in 2009
US average: 6.2%
With a disability
16.1%
+4.0 ptssince 2012
from 12.1% in 2012
US average: 13.3%
Uninsured
2.7%
−87.2 ptssince 2013
from 89.9% in 2013
US average: 8.4%
Broadband at home
92.1%
+22.7 ptssince 2017
from 69.4% in 2017
US average: 91.0%
English only at home
97.7%
+1.0 ptssince 2016
from 96.7% in 2016
US average: 77.7%
Spanish at home
1.9%
+0.9 ptssince 2016
from 0.9% in 2016
US average: 13.6%
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Compare Silver Lake to nearby cities

SILVER LAKE VS
Hutchinson
Income$72,836−2%
Home value$229,600+13%
Population14,655+1626%
SEE FULL COMPARISON →
SILVER LAKE VS
Waconia
Income$111,031+49%
Home value$431,000+113%
Population14,113+1562%
SEE FULL COMPARISON →
SILVER LAKE VS
Minnetrista
Income$163,051+119%
Home value$658,300+225%
Population9,458+1014%
SEE FULL COMPARISON →
SILVER LAKE VS
Buffalo
Income$88,820+19%
Home value$314,400+55%
Population16,878+1888%
SEE FULL COMPARISON →
Frequently asked

How many people live in Silver Lake, Minnesota?

Silver Lake, Minnesota has about 815 residents according to the 2024 American Community Survey.

What is the median household income in Silver Lake, Minnesota?

The typical household in Silver Lake, Minnesota earns about $74,432 a year. Half of households make more than that, and half make less.

Is Silver Lake, Minnesota expensive?

In Silver Lake, Minnesota, the median home is worth about $202,600, and the typical rent is about $844 a month.

How educated are people in Silver Lake, Minnesota?

About 10.8% of adults age 25 and over in Silver Lake, Minnesota hold a bachelor's degree or higher.

What is the poverty rate in Silver Lake, Minnesota?

About 3.3% of people in Silver Lake, Minnesota live below the federal poverty line.

Has Silver Lake, Minnesota grown since 1990?

Yes, Silver Lake, Minnesota has grown since 1990. The population has added about 38 residents, a change of about 5 percent over that period.

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DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

How we source and harmonize this data →

Silver Lake, Minnesota: demographics, income & housing data · CensusEasy