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 6,355 inhabitants. If we take a look at the last Census, the vast majority of the population falls within one racial group (81% White). Given that fact, Silver Lake could be considered less diverse than other cities. Not a fan of sitting in traffic during your commute to work? Silver Lake offers shorter work commutes, with an average one-way commute time taking only 20 minutes, far lower than the national average of 26 minutes.
If you’re considering moving to any new city, it could be a very daunting task. However, it could also be a fulfilling experience if you are willing to get to know the area before actually living in Silver Lake, North Carolina. When searching for a new neighborhood, several key items should be considered. Safety is of utmost importance, ensuring a secure environment with low crime. Proximity to your workplace or school helps reduce commuting time and offers convenience. Access to amenities such as parks, grocery stores, and healthcare facilities enhances your daily life. Public transportation options contribute to easy mobility. A sense of community fosters a supportive and engaging environment. Lastly, the overall atmosphere should align with your desired lifestyle, ensuring a fulfilling living experience. Considering these items will guide you towards finding the perfect neighborhood that fits all your needs. With useful information like amenities, crime, education, employment, housing and other key data points, finding the best places to live in Silver Lake and in the areas around Silver Lake is a much easier task.
Silver Lake, NC receives 64/100 for its livability score; this results in a ranking of #324 in North Carolina and #13,249 in the USA. If we dig a little deeper into each category within the livability score, we see that Silver Lake has higher than average grades for the following: cost of living (A+), employment (B+) and housing (A+). There is at least one category that did not score well in Silver Lake. The following was graded with a disappointing score: amenities (F) and education (D).
The Silver Lake unemployment rate of 2.7% has continued to decrease over the years and is now well below the national average. The result could lead to reduced poverty and inequality in the area, higher wages and increased economic growth. This is a positive sign in the overall health of the local economy.
For home buyers, real estate will be the largest purchase they will ever make and it will also be their most valuable asset. For renters, the monthly rent paid on their Silver Lake apartments will most likely be their largest expense. Based on tangible metrics like home and rental affordability and appreciation rates, housing in this area has received a score that is well above the average of every other US city. A thriving real estate market can also generate strong local economic activity and job creation.
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. The median home price for Silver Lake homes is $314,588, which is 8.7% higher than the North Carolina average. If we take a closer look at the affordability of homes in Silver Lake, we’ll see that the home price to income ratio is 3.1, which is 24.4% 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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