Barrett, MN vs Silver Lake, MN

Silver Lake is moderately more affordable than Barrett, with a 11.3% lower cost of living index. Barrett scores 80 compared to 72 for Silver Lake, where the US average is 100. This difference means residents of Barrett can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Barrett is $1,284/month compared to $769/month in Silver Lake — a 67% difference. Interestingly, home values tell a different story: while Silver Lake has cheaper rent, Barrett actually has lower median home values ($94,000 vs $184,800).

Median household income in Barrett is $58,125 compared to $75,000 in Silver Lake (-22.5%). Silver Lake offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Barrett spend roughly 26.5% of their income on rent, more than the 12.3% in Silver Lake.