Home prices
The median home in Silver Bay is valued at $95,300. It is about $23,200 (19%) lower in comparison to nearby areas.Compared to the US as a whole it is about $122,200 (56%) lower, and compared to the city of Duluth it is about $68,000 (41%) lower.
Rents
In Silver Bay the median monthly rent is $777. Compared to its nearby areas it is approximately $187 (31%) higher.In comparison to the nation as a whole it is approximately $285 (26%) lower, and in comparison to the city of Duluth is approximately $43 (5%) lower.
Nearby places
Two Harbors
Two Harbors is roughly 22 miles southwest from Silver Bay. Housing prices there are significantly more expensive. The price of the median home in Two Harbors is $149,900, which works out to $54,600 (36%) higher than Silver Bay. Its rents are somewhat less expensive. The median monthly rent in Two Harbors is $648, which comes out to $129 (19%) lower than Silver Bay.
Port Wing
Port Wing is roughly 31 miles south from Silver Bay. Real estate prices there are a bit more expensive. The median home in Port Wing is valued at $125,000, which works out to $29,700 (23%) higher than Silver Bay. Its rents are significantly less expensive. The median rent in Port Wing is $363 per month, which is $414 (114%) lower than Silver Bay.
Babbitt
Babbitt is approximately 33 miles northwest from Silver Bay. Real estate prices there are a little less expensive. The median home in Babbitt costs $75,300, which comes out to $20,000 (26%) lower than Silver Bay. The rent there is a bit less expensive. The median rent in Babbitt is $656 a month, which works out to $121 (18%) lower than Silver Bay.
Bayfield
Bayfield is approximately 34 miles southeast from Silver Bay. The real estate prices there are substantially more expensive. Bayfield's median home price is $172,700, which is $77,400 (44%) higher than Silver Bay. Rent there is somewhat less expensive. In Bayfield the median monthly rent is $668, which comes out to $109 (16%) lower than Silver Bay.
Hoyt Lakes
Hoyt Lakes is about 36 miles northwest of Silver Bay. The real estate prices there are a lot less expensive. The median home in Hoyt Lakes is valued at $69,600, which comes out to $25,700 (36%) lower than Silver Bay. The rent there is somewhat less expensive. In Hoyt Lakes the median rent is $615 per month, which is $162 (26%) lower than Silver Bay.
