Silver Lake, Martin County, Minnesota Population and Demographics
In this article, we'll explore the population statistics for Silver Lake, Minnesota, including popular demographics data like median age, number of households, household income, gender, employment and unemployment rates, occupations, religion, and more.
We are using the latest American Community Survey (ACS) 5-Year survey data from the US Census Bureau, which is accurate up to 2021.
Table of Contents
Population
There is a lot of data that lets us see how many people live in Silver Lake, Minnesota. The most basic data is the total population, which is the total number of people living in Silver Lake, Minnesota. The estimated population of Silver Lake, Minnesota is 389 people, with a median age of 54.
We can look at the total population in Silver Lake over the last 5 years to see how much it has changed.
| Year | Population | Change | 5-Year Change |
|---|---|---|---|
| 2021 |
389
|
-1.27% | -15.98% |
| 2020 |
394
|
-13.97% | - |
| 2019 |
458
|
-4.98% | - |
| 2018 |
482
|
+4.1%
|
- |
| 2017 |
463
|
- | - |
Population of Silver Lake, Minnesota by Race and Ethnicity
We can also look at how the population has changed over the last 5 years by each of the race/ethnicity types as defined by the US Census Bureau.
| Race | 2021 | 2017 | Change |
|---|---|---|---|
| White | +0.40% | ||
| Black/African American | 0.00% | ||
| Native | 0.00% | ||
| Hispanic | 0.00% | ||
| Asian | 0.00% | ||
| Hawaiian/Pacific Islander | 0.00% | ||
| Two Or More Races | -100.00% | ||
| Other | 0.00% |
This data can be very important for a number of reasons, including social and economic research, planning and development, and marketing to a multi-cultural population.
Note that the Native group includes both Native American and Alaskan Native people.
Population of Silver Lake, Minnesota by Age and Gender
The age and gender of a population is another interesting demographic statistic because it lets us track trends in the population over time. For example, we can see how the population has changed over the last 5 years by median age as a total, and also by male and female.
| Year | Total | Male | Female |
|---|---|---|---|
| 2021 | 54 -0.55% | 48.6 -9.83% | 55 +1.1% |
| 2020 | 54.3 +0.74% | 53.9 +0.94% | 54.4 +0.18% |
| 2019 | 53.9 +0.37% | 53.4 -2.02% | 54.3 +4.62% |
| 2018 | 53.7 +1.32% | 54.5 +2.06% | 51.9 -0.76% |
| 2017 | 53 - | 53.4 - | 52.3 - |
The median age of Silver Lake, Minnesota gives you an idea of the age distribution, with half of the population being older than the median age and half being younger.
This can then be used to infer and compare against birth rates, parent ages, and more metrics to understand the population. For example, an increasing median age indicates an aging population, which can be a sign of a declining population in terms of birth rates and workforce participation.
| Age | 2021 | 2017 | ||
|---|---|---|---|---|
| (Years) | Male | Female | Male | Female |
| 0 to 9 | 24 +44.21% | 21 -93.83% | 32 | 6 |
| 10 to 19 | 12 +27.59% | 25 7.08% | 13 | 25 |
| 20 to 29 | 22 2.87% | 28 -22.23% | 22 | 22 |
| 30 to 39 | 11 +38.02% | 13 0.98% | 14 | 10 |
| 40 to 49 | 28 10.52% | 15 -23.33% | 27 | 11 |
| 50 to 59 | 57 -104.47% | 52 -57.51% | 16 | 27 |
| 60 to 69 | 40 +10.29% | 40 +42.18% | 44 | 59 |
| 70+ | 43 -15.17% | 32 -11.79% | 36 | 25 |
Median Household Income
The latest median household income of Silver Lake, Minnesota is $87,917.00.
In simple terms, the median income is the middle income of a group of people. Half of the people in the group make more than the median income, and half make less. The median income is a good indicator of the overall income of a group of people, and can be used to compare against other metrics such as the average income, per capita income, and more.
Median Income by Age
We can also look at the median income by age to see how the median income varies by age, and how it compares to the overall median income for Silver Lake.
Average Household Income
Whenever we ask what is the average household income in Silver Lake, we are actually talking about the mean household income.
This is calculated by adding up all the incomes of all the households in Silver Lake, and then dividing that number by the total number of households. This is a good way to get a general idea of the average income of a group of people, but it can be skewed by a very high or very low incomes.
The average household income of Silver Lake, Minnesota is currently $123,922.00.
In terms of accurately summarizing income at a geographic level, the median income is a better metric than the average income because it isn't affected by a small number of very high or very low incomes.
If you had an area where the average income was greater than the median, it can mean that there is significant income inequality, with income being concentrated in a small number of wealthy households.
10.86% of households in Silver Lake are classed as high income households (making $200,000+ per year).
Household Income Tiers
The US Census Bureau divides households into income tiers based on the median income for the area. This is a good way to compare the income of Silver Lake against other areas.
Per Capita Income
The per capita income in Silver Lake is $54,400.00.
Per capita income is the average income of a person in a given area. It is calculated by dividing the total income of Silver Lake by the total population of Silver Lake.
This is different from the average or mean income because it includes and accounts for all people in Silver Lake, Minnesota, including people like children, the elderly, unemployed people, retired people, and more.
Education Levels
We can also look at the education levels in Silver Lake to see how many people have a high school degree, a bachelor's degree, or a graduate degree.
Educational attainment is a good indicator of the overall education level of a population, and can be used to compare against other metrics such as the average income, per capita income, and more to see how education levels affect income, unemployment rates, and more.
Employment
Employment rates are all based around the total population in Silver Lake that are over the age of 16.
The total population of Silver Lake over the age of 16 is 326.
Of those people, a total of 62.30% are working or actively looking for work. This is called the labor force participation rate.
The participation rate is a useful market measure because it shows the relative amount of labor resources available to the economy.
The employment to total population rate in Silver Lake is 62.30%.
Employment by Age
We can look at the employment rates by age to see how it compares to the overall employment rate.
| Age | Population | Participation | Unemployment Rate |
|---|---|---|---|
| 16 to 19 years | 13 | 100.00% | 0.00% |
| 20 to 24 years | 11 | 100.00% | 0.00% |
| 25 to 29 years | 33 | 100.00% | 0.00% |
| 30 to 34 years | 10 | 90.00% | 0.00% |
| 35 to 44 years | 25 | 84.00% | 0.00% |
| 45 to 54 years | 52 | 92.30% | 0.00% |
| 55 to 59 years | 18 | 66.70% | 0.00% |
| 60 to 64 years | 60 | 83.30% | 0.00% |
| 65 to 74 years | 84 | 7.10% | 0.00% |
| 75 years and over | 20 | 0.00% | 0.00% |
Employment by Race
Another very interesting employment statistic we can look at is the employment and unemployment rates by race in Silver Lake. The table below shows the rates for each of the ethnicity groups types defined by the US Census Bureau.
| Age | Population | Participation | Unemployment Rate |
|---|---|---|---|
| White | 326 | 62.30% | 0.00% |
| Black or African American | 0 | 0.00% | 0.00% |
| American Indian and Alaska Native | 0 | 0.00% | 0.00% |
| Asian | 0 | 0.00% | 0.00% |
| Native Hawaiian and Other Pacific Islander | 0 | 0.00% | 0.00% |
| Other | 0 | 0.00% | 0.00% |
| Two or more races | 0 | 0.00% | 0.00% |
| Hispanic or Latino | 0 | 0.00% | 0.00% |
| Not Hispanic or Latino | 326 | 62.30% | 0.00% |
Occupations
In this section we can look at the most common occupations in Silver Lake as well as the gender breakdown and earnings of them.
The total population of civilian employees that are 16 years old or older in Silver Lake is 203, with median earnings of $44,327.00.
Women in Silver Lake, Minnesota earning approximately 59.50% of the men's earnings.
| Population | Earnings | |
|---|---|---|
| Total | 203 | $44,327.00 |
| Male | 106 | $61,667.00 |
| Female | 97 | $36,719.00 |
Occupations by Category
In the table below, we can break down the population and earnings even further by occupation. The list of occupation categories below will show you how many people are employed in each category and the median earnings of each profession.
| Occupation | Employed | Earnings |
|---|---|---|
| Management | 25 | $112,321.00 |
| Business and Financial | 17 | $40,417.00 |
| Computer and Mathematical | 1 | $0.00 |
| Architecture and Engineering | 7 | $0.00 |
| Life, Physical, and Social Science | 3 | $0.00 |
| Community and Social Service | 0 | $0.00 |
| Legal | 0 | $0.00 |
| Educational and Library | 22 | $48,333.00 |
| Arts, Design, Entertainment, Sports, and Media | 1 | $0.00 |
| Healthcare Practitioners | 13 | $250,001.00 |
| Healthcare Support | 5 | $0.00 |
| Firefighters and Protective Service | 0 | $0.00 |
| Law Enforcement | 1 | $0.00 |
| Food Preparation and Serving | 4 | $0.00 |
| Building and Grounds Cleaning | 1 | $0.00 |
| Personal Care and Service | 2 | $0.00 |
| Sales | 16 | $46,250.00 |
| Office and Administrative Support | 28 | $23,750.00 |
| Farming, Fishing, and Forestry | 20 | $21,429.00 |
| Construction and Extraction | 4 | $0.00 |
| Installation, Maintenance, and Repair | 5 | $0.00 |
| Production | 18 | $35,000.00 |
| Transportation and Material Moving | 5 | $32,083.00 |
Occupations by Gender
The table below shows the same occupations from the list above, but we have split them by male and female to see how many male and females work in each occupation, the median earnings, and the male to female ratio of earnings.
That last metric is important because it can be used to look at the gender pay gap between men and women.
| Occupation | Male | Female | ||
|---|---|---|---|---|
| Population | Earnings | Population | Earnings | |
| Management | 25 | $112,321.00 | 0 | $0.00 |
| Business and Financial | 8 | $73,750.00 | 9 | $37,250.00 |
| Computer and Mathematical | 1 | $0.00 | 0 | $0.00 |
| Architecture and Engineering | 7 | $0.00 | 0 | $0.00 |
| Life, Physical, and Social Science | 3 | $0.00 | 0 | $0.00 |
| Community and Social Service | 0 | $0.00 | 0 | $0.00 |
| Legal | 0 | $0.00 | 0 | $0.00 |
| Educational and Library | 0 | $0.00 | 22 | $48,333.00 |
| Arts, Design, Entertainment, Sports, and Media | 0 | $0.00 | 1 | $0.00 |
| Healthcare Practitioners | 4 | $77,500.00 | 9 | $250,001.00 |
| Healthcare Support | 0 | $0.00 | 5 | $0.00 |
| Firefighters and Protective Service | 0 | $0.00 | 0 | $0.00 |
| Law Enforcement | 1 | $0.00 | 0 | $0.00 |
| Food Preparation and Serving | 0 | $0.00 | 4 | $0.00 |
| Building and Grounds Cleaning | 1 | $0.00 | 0 | $0.00 |
| Personal Care and Service | 0 | $0.00 | 2 | $0.00 |
| Sales | 8 | $66,250.00 | 8 | $40,000.00 |
| Office and Administrative Support | 7 | $0.00 | 21 | $26,042.00 |
| Farming, Fishing, and Forestry | 16 | $22,143.00 | 4 | $0.00 |
| Construction and Extraction | 4 | $0.00 | 0 | $0.00 |
| Installation, Maintenance, and Repair | 5 | $0.00 | 0 | $0.00 |
| Production | 11 | $42,813.00 | 7 | $31,750.00 |
| Transportation and Material Moving | 2 | $0.00 | 3 | $0.00 |
Households and Family Size
A household defined bu the US Census Bureau is a group of people who occupy a housing unit. A housing unit is a house, apartment, mobile home, group of rooms, or single room occupied as separate living quarters.
There are currently 175 households in Silver Lake, with an average household size of 2.22 people.
A family is defined as a group of two or more people related by birth, marriage, or adoption who live together in the same household.
There are 142 families in Silver Lake with an average family size of 2.51 people.
Households by Marital Status
The four categories of household by marital status are:
- Married-couple family
- Male householder with no spouse present
- Female household with no spouse present
- Nonfamily household
The table below shows the total number of households and families, with the average sizes of each.
| Married | Male | Female | Nonfamily | |
|---|---|---|---|---|
| Total Households | 125 | 14 | 3 | 33 |
| Average Household Size | 2.52 | 2.21 | 3.33 | 0 |
| Total Families | 125 | 14 | 3 | 0 |
| Average Household Size | 2.52 | 2.21 | 3.33 | 0 |
Poverty
Of the 142 families in Silver Lake, 0.00% are considered to be below the poverty threshold.
The table below shows the latest poverty thresholds in Silver Lake:
| Household Size | Poverty Threshold |
|---|---|
| 1 Person | $14,580.00 |
| 2 People | $19,720.00 |
| 3 People | $24,860.00 |
| 4 People | $30,000.00 |
| 5 People | $35,140.00 |
| 6 People | $40,280.00 |
| 7 People | $45,420.00 |
| 8 People | $50,560.00 |
Housing
There are 183 housing units in Silver Lake, Minnesota.
The table below shows the split between occupied and vacant units:
| Total | Percentage | |
|---|---|---|
| Occupied | 175 | 95.63% |
| Vacant | 8 | 4.37% |
1.09% of the total 183 housing units in Silver Lake are rental units. This is approximately 2 properties.
For owner-occupied housing units, a total of 159 are occupied by the owner - or 86.89% of the total.
Rental Rates
The median rent for a property in Silver Lake is $0.00.
In the chart below, we can look at the number of rental properties in Silver Lake that fall into a particular rent range. These can then be used to compare with other areas, or to see how they have changed over time.
Property Value
The median value of a property in Silver Lake is $257,800.00.
Just like with rental rates, we can look at the number of properties in Silver Lake that fall into a particular value range.
Property Age
We can also look at the age of properties in Silver Lake. The chart below shows the number of properties in Silver Lake that fall into a particular age range.
Vehicles per Household
The number of vehicles available per household can be a good indicator of the level of affluence in an area. The chart below shows the number of households in Silver Lake that have a particular number of vehicles available.
Commuting to Work
In this section, we can also look at how people in Silver Lake get to work. The chart below shows the number of people in Silver Lake that commute to work in a particular way.
20.9 minutes is the average travel time to work for people in Silver Lake.
These commute times can be compared to other date like income and educational levels to see how they relate to each other and if there are any trends in the data that might suggest a correlation.
Summary
We've covered a LOT of demographic and population data for Silver Lake, Minnesota in this article! Hopefully you have found it very useful in your research of the area.
If you use any of the data found on this page, please consider linking back to USPopulation.org as the source and if you have any feedback or data requests, click here to contact us.