The Most Affordable Neighborhoods in Silver Lake, OR by Home Value

These days, finding an affordable place to live in the Silver Lake area can be challenging. Home prices in Silver Lake are now at a median cost of $220,539, lower than the Oregon average of $502,078.

The average cost of rent is $821/mo in Silver Lake, primarily driven by the current value of real estate in the Silver Lake area. In Silver Lake, 26.81% of households rent, and 67.38% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Silver Lake is $3,073 per month. Households that rent pay about 26.71% of their income on rent here. Silver Lake’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northeastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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