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CITY · 2020 ACS

Silver Lake

Minnesota · 866 residents · 0.411 sq mi
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The short version

Silver Lake has roughly average household income, with a median household income of $59,792. Population has held roughly steady since 2000. 8% of adults hold a bachelor's degree or higher, below the national rate of 33%. Median home value has risen by half since 2000, reaching $134,600.

At a glance
Lower income
below the US median
US median: $66,278
Older
median age 43.3
US median: 38.8
Less educated
8% hold a bachelor's degree
US average: 33%
Stable housing
home values roughly flat, inflation adjusted
US median home: $265,253
Section 01

Population & growth

Total population
866
+14%since 2000
from 761 in 2000
1990 – 2025
Population density
2,107 / sq mi
+14%since 2000
from 1,852 / sq mi in 2000
US average: 280
Median age
43.3
+24%since 2000
from 35.0 in 2000
US average: 38.8
Population, 1990 – 2024
6847608379139901990201020202024Silver Lake
2024815
1990201020202024
Section 02

Income & economy

Median household income
$59,792
+8%inflation adjusted, since 2000
from $36,833 in 2000
US average: $66,278
1990 – 2024
Per capita income
$32,382
+79%since 2000
from $18,126 in 2000
US average: $35,364
Households earning $100K+
38.2%
+23.1 ptssince 2009
from 15.1% in 2009
US average: 43.9%
Poverty rate
6.7%
−0.6 ptssince 2000
from 7.3% in 2000
US average: 12.8%
Workforce by industry, 2020
Retail trade30.5%
US avg: 10%
Information12.4%
US avg: 11.1%
Wholesale trade11.1%
US avg: 6.7%
Finance & insurance7.7%
US avg: 5.5%
Professional, scientific, technical6.6%
US avg: 4.7%
Transportation & warehousing3%
US avg: 2.5%
Other services1.3%
US avg: 6.6%
Public administration1.3%
US avg: 4.7%
Education & health services1.1%
US avg: 0.8%
Agriculture, forestry, fishing0.2%
US avg: 1.7%
Construction0.2%
US avg: 1.2%
Manufacturing0%
US avg: 0.5%
Arts, entertainment, food0%
US avg: 2%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$134,600
+10%inflation adjusted, since 2000
from $81,400 in 2000
US average: $265,253
1990 – 2024
Median gross rent
$636
+18%inflation adjusted, since 2000
from $360 in 2000
US average: $1,124
Owner-occupied
80.0%
+3.9 ptssince 2000
from 76.1% in 2000
20.0% rent
Afford Score
2.3
+2%since 2000
from 2.2 in 2000
1990 – 2024
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)
2020
White, non-Hispanic93.3%(808)
Black0.5%(4)
Hispanic / Latino2.7%(23)
Asian0.5%(4)
Other6%(52)
Diversity Score21.6%(187)
Diversity Score
22
+1001%since 2000
from 2 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
7.7%
−1.0 ptssince 2000
from 8.7% in 2000
US average: 32.9%
High school or higher
88.5%
+7.9 ptssince 2000
from 80.6% in 2000
US average: 88.5%
Graduate degree
3.5%
+1.0 ptssince 2000
from 2.5% in 2000
US average: 12.7%
Section 06

Commute & transportation

Average commute
23.3 min
+31%since 2000
from 17.8 min in 2000
US average: 26.9
Drive alone to work
82.9%
−4.9 ptssince 2009
from 87.8% in 2009
US average: 75.1%
No vehicle available
2.5%
−1.2 ptssince 2009
from 3.7% in 2009
US average: 8.4%
Section 07

Work & employment

Unemployment rate
2.0%
−6.1 ptssince 2011
from 8.1% in 2011
US average: 5.4%
Labor force participation
73.5%
+5.5 ptssince 2011
from 68.0% in 2011
US average: 63.4%
Management & professional
23.5%
−31.4 ptssince 2009
from 54.9% in 2009
US average: 39.3%
Section 08

People & community

Male
53.1%
+3.3 ptssince 2009
from 49.8% in 2009
Female
46.9%
−3.3 ptssince 2009
from 50.2% in 2009
Foreign born
1.1%
+0.1 ptssince 2009
from 1.0% in 2009
US average: 13.5%
Uninsured
1.7%
−88.2 ptssince 2013
from 89.9% in 2013
US average: 8.8%
Drill deeper

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Head to head

Compare Silver Lake to nearby cities

SILVER LAKE VS
Hutchinson
Income$72,836+22%
Home value$229,600+71%
Population14,655+1626%
SEE FULL COMPARISON →
SILVER LAKE VS
Waconia
Income$111,031+86%
Home value$431,000+220%
Population14,113+1562%
SEE FULL COMPARISON →
SILVER LAKE VS
Minnetrista
Income$163,051+173%
Home value$658,300+389%
Population9,458+1014%
SEE FULL COMPARISON →
SILVER LAKE VS
Buffalo
Income$88,820+49%
Home value$314,400+134%
Population16,878+1888%
SEE FULL COMPARISON →
Frequently asked

How many people live in Silver Lake, Minnesota?

Silver Lake, Minnesota has about 866 residents according to the 2020 American Community Survey.

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

The typical household in Silver Lake, Minnesota earns about $59,792 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 $134,600, and the typical rent is about $636 a month.

How educated are people in Silver Lake, Minnesota?

About 7.7% 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 6.7% 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 89 residents, a change of about 11 percent over that period.

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

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