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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 Type0%
One Bedroom3.70%
Two Bedrooms27.90%
Three Bedrooms56.20%
Four Bedrooms9.20%
Five Bedrooms or more3.10%
As % of Housing Units
         

Owned Homes, Apartments and Condos

Average Household Size2.46
Median year structure was built1957
Median Value of occupied units$47,500
Median Price asked for vacant units$50,000

Rented Homes, Apartments and Condos

Average Household Size1.76
Median year structure was built1959
Median Monthly Rent asked for vacant units$488

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage4.10%
Home Equity Loan3.60%
Simple Mortgage46%
Debt Free46.40%
As % of Housing Units
       
Median part of Monthly Household Income dedicated to covering home ownership costs12.8%