Housing costs in Silver Bay?
A typical home costs
$134,600, which is 60.2% less expensive than the national average of
$338,100 and 56.5% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Silver Bay costs
$1,150 per month, which is 19.6% cheaper than the national average of
$1,430 and 7.8% cheaper than the state average of
$1,240.
Can I afford Silver Bay?
To live comfortably in Silver Bay, Minnesota, a minimum annual income of
$25,920 for a family, and
$38,000 for a single person is recommended.
What does A.I. say about Silver Bay?
The cost of living in Silver Bay, MN is generally quite reasonable. The overall cost of living index is around the national average, with housing costs being one of the primary factors keeping it below the national average. Housing costs are quite reasonable, with median home prices hovering around $100,000. Groceries and transportation costs tend to be lower than the national average as well, while healthcare is slightly higher than average. All in all, Silver Bay is a great place to live with an affordable cost of living.