Silver Bay, MN Real Estate
According to census data in the year 2000 there were 915 housing units in Silver Bay.
This represents a 3.4% decline from 947 in 1990.
Of those housing units, none were located in either urbanized areas or urban clusters, and 915 were located in what is classified as a rural area.
Homeownership rate in Silver Bay is about 89.3%.
Silver Bay's vacancy rate, including seasonal lodging, is about 7.4%.
Average household size is 2.39 people.
The majority of houses, apartments or condos in Silver Bay were built after 1957.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0% |
| One Bedroom | 3.70% |
| Two Bedrooms | 27.90% |
| Three Bedrooms | 56.20% |
| Four Bedrooms | 9.20% |
| Five Bedrooms or more | 3.10% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.46 |
| Median year structure was built | 1957 |
| Median Value of occupied units | $47,500 |
| Median Price asked for vacant units | $50,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.76 |
| Median year structure was built | 1959 |
| Median Monthly Rent asked for vacant units | $488 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 4.10% |
| Home Equity Loan | 3.60% |
| Simple Mortgage | 46% |
| Debt Free | 46.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 12.8% |
