Silver Lake, MN vs St. Martin, MN

St. Martin is moderately more affordable than Silver Lake, with a 11.9% lower cost of living index. Silver Lake scores 72 compared to 64 for St. Martin, where the US average is 100. This difference means residents of Silver Lake can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Silver Lake is $769/month compared to $525/month in St. Martin — a 47% difference. Interestingly, home values tell a different story: while St. Martin has cheaper rent, Silver Lake actually has lower median home values ($184,800 vs $210,500).

Median household income in Silver Lake is $75,000 compared to $71,250 in St. Martin (+5.3%). Silver Lake does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Silver Lake spend roughly 12.3% of their income on rent, more than the 8.8% in St. Martin.

Climate-wise, Silver Lake is notably warmer with an average of 46.7°F compared to 42.9°F in St. Martin. Silver Lake receives more rainfall at 30.6" per year compared to 28.5" in St. Martin.