Silver Bay, MN Employment - Median Household Income, Unemployment Rate

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B-

15%

Income/capita NAT. AVG.

4%

Household income NAT. AVG.

65%

Unemployment NAT. AVG.

Index	Silver Bay	Minnesota	National
Income per capita	$51,678	$49,588	$44,883
Median household income	$84,612	$92,370	$81,333
Median income owner occupied	$86,278	$117,544	$106,172
Median income renter occupied	$0	$52,026	$52,080
Median earnings male	$81,461	$60,747	$54,343
Median earnings female	$49,418	$42,223	$38,439
Unemployment rate	1.7%	3.6%	4.9%
Poverty level	6.1%	10.8%	15.1%

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Homes For Sale In Silver Bay, MN

4155 Liberty Rd

Two Harbors, MN

24 Horn Blvd

Silver Bay, MN

4155 Liberty RD

Beaver Bay, MN

26 Gibson Rd

Silver Bay, MN

Key findings

The income per capita in Silver Bay is 15% higher than the national average
The median household income in Silver Bay is 4% higher than the national average
Male median earnings are 41% higher than female median earnings
The unemployment rate in Silver Bay is 65% lower than the national average
The poverty level in Silver Bay is 60% lower than the national average

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am i middle class

$56,402 $84,612 $169,224

City

$61,573 $92,370 $184,740

State

$54,216 $81,333 $162,666

Nation

According to the PEW research center, the middle class is defined as a range from two thirds (2/3) of the median household income to a multiple of two (2) times the median household income. Displayed above are the city, state and national median household income averages. Simply enter your median household income to determine if your income falls into the middle class or if your household income is considered upper or lower class.

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Silver Bay median earnings by income bracket

Silver Bay employment by industry

Labour Type	Male	Female
Construction industry	6.3%	6.3%
Manufacturing sector	18.1%	18.1%
Financial & insurance services	3.4%	3.4%
Wholesale & retail services	15.5%	15.5%
Public administration	4.3%	4.3%
Transportation, warehousing & utilities	5.7%	5.7%
Education, health & social services	8.9%	8.9%
Other	34.8%	34.8%

Nearby cities with high median household income

City	Population	Household Income	National Avg.
Beaver Bay, MN	65	$98,183	20.7%
Finland, MN	216	$69,088	15.1%
Silver Bay, MN	1,669	$84,612	4.0%

Cities with similar population

City	Population	Household Income	National Avg.
Estancia, NM	1,669	$50,831	37.5%
Plymouth, OH	1,669	$78,948	2.9%
Westwood, PA	1,669	$64,692	20.5%
La Guadeloupe, QC	1,669	n/a
Saint-Albert, QC	1,669	n/a
Silver Bay, MN	1,669	$84,612	4.0%

Source: The Silver Bay, MN employment data displayed above is derived from the United States Census Bureau American Community Survey (ACS) and include 2026 modeled data developed using proprietary methodologies.