Cost Of Living
Everyday cost of living expenses like goods and services, housing, groceries, transportation, health care and utilities are far below the national average.
Employment
With higher than average median household income, income per capita and lower unemployment rates, this area scores extremely well in the employment category.
Housing
Impressive scores in the housing category characterize this area, potentially attributed to the availability of affordable housing, strong appreciation rates and high home values.
Amenities
The majority of amenities will be difficult to reach within a short walk, often requiring residents to use a vehicle or public transportation for access.
Commute
Low commute scores could be due to limited access to public transit in this area, as well as longer-than-average work commute times for residents.
Silver Lake is a smaller city located in the state of North Carolina. The city has a population of 6,146 residents. According to the most recent Census, 81% of Silver Lake residents are White, 7% Black and 1% Asian. If you prefer shorter commutes, living in Silver Lake will be a delight. With an average one-way commute time of just 20 minutes, traveling to and from work is notably more convenient than the national average, which stands at 26 minutes.
Without the right tools, relocating to any new city can be very stressful and challenging. Living in Silver Lake, North Carolina could be a great experience for anyone who puts in the effort to do the research required. When searching for a new neighborhood, several key items should be considered. Safety is paramount, ensuring a secure environment for you and your family. Proximity to workplaces or schools reduces commuting time and enhances convenience. Access to amenities like parks, grocery stores and healthcare facilities contributes to a comfortable lifestyle. Reliable public transportation options promote easy mobility. A strong sense of community fosters social connections and a welcoming atmosphere. The best areas in Silver Lake and in surrounding cities are easier to find when you are able to make informed decisions. Using data from amenities, crime, cost of living, commute, housing, you will see a detailed breakdown of the most important information as well as comparisons to the North Carolina and national averages.
Silver Lake, NC receives 63 out of 100 for its livability score; this results in a ranking of #310 in North Carolina and #13,055 in the USA. If we consider each of the categories individually, we see that Silver Lake ranks well for cost of living (A+), employment (B) and housing (A). There are some categories that Silver Lake ranks poorly for, including: amenities (F). It might be worth taking a closer look to determine why.
The unemployment rate in Silver Lake has consistently declined over the years and currently stands well below the national average at 2.57%. This downward trend holds the potential to reduce poverty and inequality within the region, promote higher wage levels and stimulate greater economic growth. Such positive indicators signal the overall robust health of the local economy, offering a promising outlook for its residents and fostering an environment of financial well-being and prosperity.
A healthy real estate market serves as a key economic indicator. It could signify overall local economic strength, stability and reflects consumer confidence in the area. Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Silver Lake has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
Certain items on your wish list like shopping, restaurants, nightlife, parks and proximity to public transportation are all important things to look for. Having said that, perhaps the most important metric to consider when contemplating a move to Silver Lake is real estate affordability. Median real estate prices in Silver Lake come in at $173,700, which is 10.6% higher than the North Carolina average. The home price to income ratio compares the median home prices to the median household income. In Silver Lake, the home price to income ratio is 2.6, which is 21.2% lower than the North Carolina average.
| Statistic | Silver Lake | North Carolina | National |
| Average one way commute | 20min | 24min | 26min |
| Workers who drive to work | 87.5% | 81.1% | 76.4% |
| Workers who carpool | 6.3% | 9.8% | 9.3% |
| Workers who take public transit | 0.0% | 1.1% | 5.1% |
| Workers who bicycle | 0.0% | 0.2% | 0.6% |
| Workers who walk | 2.0% | 1.8% | 2.8% |
| Working from home | 4.2% | 4.8% | 4.6% |
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