Silver Lake is located in McLeod, Minnesota, with an estimated municipal population of 814 residents. All of the best foreclosed homes for sale in Silver Lake are located in the following zip code areas on Foreclosure.com: 55381. The estimated population per square kilometer (.62 miles) in Silver Lake is 776.
So, about how much do homes cost in Silver Lake? The most recent median value of resident-owned homes in Silver Lake is 140,718. An estimated 80.9 percent of households in Silver Lake own their homes, with an average family size of 3.24. The median household income in Silver Lake is 64,479, with24.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Silver Lake, the median commute time of resident workers (in minutes) is 27.7. And last, but certainly not least, are you looking for homes to rent in Silver Lake? If so, the average rent price paid by renters in Silver Lake is 525, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Silver Lake, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Silver Lake is 36.4, split between 48.5 percent male versus 51.5 female. The percentage of residents who report being married in Silver Lake is 54, with an average family size of 3.24.
The percentage of residents who report their race in Silver Lake is as follows:
| White | 95.4% |
| Black / African American | 0% |
| Asian | 0% |
| American Indian / Alaskan Native | 0% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 4.6% |
| Other | 0% |
Looking for family-friendly neighborhoods in and/or near Silver Lake? Or maybe you are searching for 55+ active adult communities in and/or near Silver Lake?
The percentage of residents who report their age in Silver Lake is as follows:
| Under 10 | 16.7% |
| Aged 10-19 | 16.1% |
| 20s | 6.2% |
| 30s | 18% |
| 40s | 11.9% |
| 50s | 9.2% |
| 60s | 12% |
| 70s | 4.1% |
| 80+ | 5.8% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Silver Lake with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Silver Lake.
How do you know that living in -- or moving to -- Silver Lake is right where you need to be? Perhaps you grew up in Silver Lake or already live nearby; therefore, the decision to buy a home in Silver Lake is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Silver Lake for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Silver Lake:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Silver Lake.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Silver Lake can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Silver Lake, meanwhile, can field multiple offers from more qualified buyers.
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