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Silver Lake city, MN

ZIP 55381 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55381

Median Home Value
$233,400
Median Rent
$710
Affordability Snapshot
$64,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,499/mo PITI).

10%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

27.4 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 55381 in Silver Lake city, MN, a household would need roughly $64,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,499. That sits below the local median household income ($87,011), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
88.0%+35% vs US avg
x
Vacancy Rate
9.9%-4% vs US avg
x
Broadband Access
88.9%+2% vs US avg
x
4+ Bedrooms
3.7%-75% vs US avg
x
Built Pre-1939
8.7%-32% vs US avg
x
Built Post-2014
0.9%-87% vs US avg
x
Rent Burden >30%
0.0%
x
Mortgage-Free
48.5%+27% vs US avg
x
$233,400
Home Value
$710
Rent
1965
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached86.8%
  • 1-unit attached0.3%
  • 2-9 units8.0%
  • 10+ units2.9%
  • Mobile home & other2.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$233,400
Median rent$710
Owner-occupied88.0%
Vacant9.9%
Price-to-income2.7x
Est. income to buy$64,000