Below Average CostVery SafeGLENCOE-SILVER LAKE SCHOOL DISTRICT
View of Silver Lake · Myotus / CC BY 4.0Faith Presbyterian Church, Silver Lake, Minnesota-02 · Myotus / CC BY 4.0Commerical buildings, Silver Lake, Minnesota · Myotus / CC BY 4.0City Hall, Silver Lake, Minnesota · Myotus / CC BY 4.0
Silver Lake is a small town of 822 in Minnesota, with a median household income of $70,547
and a 7.5% unemployment rate.
Its cost of living index is 94 (US average = 100), which is
6% below the national average.
Strengths:
Silver Lake stands out for an affordable cost of living, below-average home prices, solid school ratings (B-), short average commutes.
Trade-offs:
Potential downsides include an elevated unemployment rate. Whether Silver Lake is right for you depends on your priorities — the full breakdown is below.
All Silver Lake city data on this page comes from official government sources —
the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.
Cost of Living
Index: 93.8
Silver Lake's overall cost of living index is 93.8,
where 100 represents the US national average.
Living in Silver Lake costs roughly 6% less than the average American city.
Metric
Silver Lake, MN
National Avg
Median Home Value
$163,500
$244,900
Median Monthly Rent
$773
$1,163
Homeownership Rate
79.2%
65.9%
Median Household Income
$70,547
$74,755
Crime & Safety
Very Safe
Silver Lake's violent crime rate is 167.2 per 100,000 residents
— 56% lower than the national average of ~380 per 100,000.
Violent Crime
167.2 /100k
Property Crime
757.8 /100k
Vertical marker = national average. Source: FBI UCR Program.
Schools & Education
Silver Lake is served primarily by GLENCOE-SILVER LAKE SCHOOL DISTRICT.
The student-to-teacher ratio is 15.5:1
(better than the national average of ~16:1).
Metric
Silver Lake, MN
National Avg
School District
GLENCOE-SILVER LAKE SCHOOL DISTRICT
—
Elementary Schools
2
—
Middle Schools
1
—
High Schools
1
—
Student/Teacher Ratio
15.5:1
16:1
Bachelor's Degree or Higher
8.8%
35.4%
High School Diploma or Higher
85.6%
91.1%
Weather & Climate
Silver Lake sees average highs of 21.8°F in January
and 82.7°F in July,
with 31.3 inches of annual precipitation
and 41.1 inches of snow per year.
Silver Lake's cost of living index is 94, where 100 is the national average.
That makes Silver Lake roughly 6% less expensive than a typical US city — a meaningful affordability advantage.
The median home price is $163,500 and median rent is $773/month.
Silver Lake's violent crime rate is 167.2 per 100,000 residents — the national average is ~380 per 100,000. Property crime is 757.8 per 100,000 (national avg ~2,100). Data from the FBI Uniform Crime Reporting Program.
Public schools in Silver Lake are operated by GLENCOE-SILVER LAKE SCHOOL DISTRICT.
The district has 2 elementary, 1 middle, and 1 high schools.
The student-to-teacher ratio is 15.5:1. 8.8% of adults 25+ hold a bachelor's degree or higher.
Silver Lake, MN has a population of 822, a median household income of $70,547, and an unemployment rate of 7.5%.
It offers below-average costs of living, which stretches take-home pay further than in most American cities. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Silver Lake averages 21.8°F in January and 82.7°F in July. Annual rainfall is 31.3 inches
with about 41.1 inches of snow per year.
Based on NOAA 30-year climate normals (1991–2020).
Silver Lake, MN is covered by 1 ZIP code: 55381.
The population of Silver Lake, Minnesota is 822 with a median age of 42.1. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Silver Lake: cost of living index 94 (100 = US average), median home $163,500, median household income $70,547, crime index 41 (100 = US average, lower is safer), schools rated B-. Whether these are benefits or drawbacks depends on where you're coming from — compare Silver Lake side by side with your current city to see the trade-offs.
