Silver Lake, MN—55381
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Silver Lake, MN
As of Oct '25, the median home price in Silver Lake, MN is $303,000, with a year-over-year change of 4.3%. This indicates that home prices in Silver Lake, MN are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $303,000 | 4.3% |
| Single Family | $303,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $236,000 | 2.6% |
3 Bed | $281,000 | 3.7% |
4 Bed | $325,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Silver Lake, MN
As of July '25, Rentcast reports the average rent in Silver Lake, MN is $750, with a year-over-year rent change of -16.7%. Per bedroom, the median rent as of July '25 in Silver Lake, MN is 1-bedrooms: $750. The most common rental property sizes in Silver Lake, MN are 3-bedroom and 1-bedroom, accounting for 47.9% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $750 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $750 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Silver Lake, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Silver Lake, MN is 45. This is a decrease of -31.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $349,000 | -26.0% |
Listing Count | 11 | 35.0% |
| Listings as % of Homes | 0.2% | 35.0% |
Days on Market | 45 | -31.0% |
Demographics — Silver Lake, MN
As of the latest ACS Survey released in 2023, Silver Lake, MN has a population of 2,000, which has remained stable by -0.1% over the past 5 years. Silver Lake, MN is a moderately popular place for families, as children make up 19.9% of the population. The area has a poorly educated workforce, with 13.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,000 | -0.1% |
% Under 18 | 19.9% | -13.1% |
% Seniors | 21.4% | 37.2% |
% WFH | 6.6% | 20.0% |
% w/ College Degree | 13.9% | 9.4% |
As of the latest ACS Survey released in 2023, Silver Lake, MN is a predominantly white area, with 92.3% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Silver Lake, MN is hispanic, making up 2.7% of the population. Foreign-born residents account for 0.6% of the population in Silver Lake, MN, and this percentage has decreased by 53.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.3% | -5.2% |
% Black | 0.3% | -57.1% |
% Hispanic | 2.7% | 1,250.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.6% | -53.8% |
Mortgage and Risk — Silver Lake, MN
Silver Lake, MN lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Silver Lake, MN
Silver Lake, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $750 | $1,200 |
| 2 Bedroom | N/A | N/A | $1,460 |
| 3 Bedroom | N/A | N/A | $1,970 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Silver Lake, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $303,000 |
| Median Household Income | $87,000 |