Minnesota Lake, MN vs Silver Bay, MN

Minnesota Lake is moderately more affordable than Silver Bay, with a 10% lower cost of living index. Minnesota Lake scores 70 compared to 78 for Silver Bay, where the US average is 100. This difference means residents of Silver Bay can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Minnesota Lake is $950/month compared to $1,044/month in Silver Bay — a 9% difference. Home values follow the same pattern: Minnesota Lake is more affordable at $126,600 median vs $150,700.

Median household income in Minnesota Lake is $62,875 compared to $70,870 in Silver Bay (-11.3%). While Silver Bay is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Minnesota Lake spend roughly 18.1% of their income on rent, more than the 17.7% in Silver Bay.

Climate-wise, Minnesota Lake is notably warmer with an average of 45.6°F compared to 39.5°F in Silver Bay. Minnesota Lake receives more rainfall at 36.3" per year compared to 25.9" in Silver Bay.