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Affordable
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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 $263,277, lower than the Tennessee average of $315,131.
The average cost of rent is $708/mo in Silver Lake, primarily driven by the current value of real estate in the Silver Lake area. In Silver Lake, 27.55% of households rent, and 68.38% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Silver Lake is $3,803 per month. Households that rent pay about 18.63% of their income on rent here. Silver Lake’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Laurel Bloomery, TN: equally priced homes
- Grayson, NC: less expensive homes
- Mountain City, TN: less expensive homes
- Taylors Valley, VA: less expensive homes
- Damascus, VA: less expensive homes
- Shady Valley, TN: less expensive homes
- Creston, NC: less expensive homes
- Green Cove, VA: less expensive homes
- Harmon, TN: less expensive homes
- Whitetop, VA: less expensive homes
Cities with Similar Populations
- Putney, KY: less expensive homes
- Norske, WI: less expensive homes
- North Lake, MI: less expensive homes
- North Loup, NE: less expensive homes
- North View, VA: less expensive homes
- North Waldoboro, ME: equally priced homes
- Northpoint, TN: equally priced homes
- Pricetown, OH: less expensive homes
- Progress, VA: less expensive homes
- Pursley, TX: less expensive homes
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