Silver Lake, MN housing market
The typical Silver Lake home is worth about $310,000, up 0.8% in a year, 12% below the Minnesota typical home.
Home values, sales, trends and how Silver Lake compares with the towns next door — updated as new data is published.
Silver Lake at a glance
Only 3 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Silver Lake | Minnesota |
|---|---|---|
| 2017 | $164,000 | $217,000 |
| 2018 | $173,000 | $232,000 |
| 2019 | $184,000 | $246,000 |
| 2020 | $206,000 | $259,000 |
| 2021 | $225,000 | $282,000 |
| 2022 | $262,000 | $313,000 |
| 2023 | $274,000 | $325,000 |
| 2024 | $287,000 | $331,000 |
| 2025 | $299,000 | $341,000 |
| 2026 | $311,000 | $349,000 |
| August 2026 | $310,000 | $351,000 |
No new homes permitted in 2025
No permits for new homes were issued in Silver Lake in 2025. The last year with any was 2021 (2 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Silver Lake gained 29 residents while 2 new homes were permitted: about 15 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 2 | 2 | 0 | $481,000 |
| 2020 | 2 | 2 | 0 | $481,000 |
| 2019 | 1 | 1 | 0 | $156,000 |
| 2018 | 1 | 1 | 0 | $183,000 |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 1 | 1 | 0 | $234,000 |
| 2007 | 2 | 2 | 0 | $299,000 |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 8 | 8 | 0 | $1.1 million |
| 2004 | 2 | 2 | 0 | $222,000 |
| 2003 | 10 | 10 | 0 | $881,000 |
| 2002 | 5 | 5 | 0 | $492,000 |
| 2001 | 4 | 4 | 0 | $397,000 |
| 2000 | 6 | 6 | 0 | $591,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,520
HUD's Fair Market Rent for a two-bedroom in Silver Lake is $1,520 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Silver Lake pay a median of $844, so moving in tends to cost more than staying put.
Studio $1,100 · 4 bedrooms $2,270
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55381; Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.