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The total population of Silver Bay is estimated to be 1,690 with 799 males (47.28%) and 891 females (52.72%). There are 92 more females than males in Silver Bay.
The median household income in Silver Bay was $66,524 in 2021, which marked an an increase of 3,002(4.73%) from $63,522 in 2020. This income is 89.17% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Silver Bay sees its highest median household income among householders in the age group of 25 to 44 years old, at $102,369. Overall, the median household income for the city of Silver Bay stands at $66,524.
In Silver Bay, the median income for all workers aged 15 years and older, regardless of work hours, was $48,304 for males and $28,712 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $63,597 for males and $52,598 for females.
In Silver Bay, there are just two different racial groups among households. Among these, Two or More Races households report a median household income of $74,189, while White households have a median household income of $65,094.
In 2022, the population of Silver Bay was 1,841, a 1.39% decrease year-by-year from 2021. Previously, in 2021, Silver Bay's population was 1,867, an increase of 0.27% compared to a population of 1,862 in 2020.
The median age in Silver Bay, MN is 47.8, as per 2021 ACS 5-Year Estimates. Of the total population, 16.34% were under the age of 15, 11.98% aged 15 to 29, 45.29% aged 30 to 64, 20.27% aged 65 to 84, and 6.11% were 85 years of age and older.
Racial distribution of Silver Bay population: 90.46% are White, 0.25% are American Indian and Alaska Native, 1.12% are Asian, 0.50% are some other race and 7.67% are multiracial.