ZIP Code 55614 — Silver Bay city, MN Demographics & Data

ZIP code 55614 covers Silver Bay, MN in Lake County with a population of about 2,450.

At a glance, the area shows median age of 53.9 versus a U.S. median of about 38.9.

It sits in telephone area code 218; U.S. House district MN-8; the DULUTH - SUPERIOR media market.

Median household income in ZIP 55614 is about $74,313 — about even with the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 9.4%; unemployment rate near 1.7%; 22.9% of adults with a bachelor’s degree or higher (about 10.8 points below the national share (33.7%)).

Labor and commute patterns include leading industry context around Healthcare, Retail trade, and Construction; about 9.1% of workers reporting work-from-home (about 6.1 points below the U.S. share (15.2%)); a mean commute of about 180.0 minutes (U.S. average near 26.8).

Median home value is about $172,900 — about 50% below the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $781 (about 33% below the U.S. median rent ($1,163)), and owner-occupancy near 85.2% (about 19.8 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 55614 in Silver Bay, MN, a household would need roughly $48,000 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 $1,111. That sits below the local median household income ($74,313), 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.

FEMA’s National Risk Index rates natural-hazard risk for Silver Bay city, MN as Very Low (composite score 33.9), which is relatively lower than many U.S. communities. The strongest component scores on US5 are wildfire (62.3) and flood (29.8). These scores are county-linked NRI values published for planning context — all ZIP codes in the same county share the same composite score on US5. Useful when comparing insurance and disaster exposure across areas, not a substitute for a parcel-level flood or fire determination.

Climate normals for Silver Bay city, MN show little to no average snow and around 32.5 inches of annual precipitation.

IRS migration statistics show a net inflow of about 174 for ZIP 55614 (Silver Bay city, MN) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.