Silver Bay, MN, offers a cost of living that is slightly below the nationwide average. The overall cost of living index is 93, which is 7% lower than the national average of 100. Housing costs are notably lower, with an index of 85, while groceries and utilities are close to the average at 98 and 95, respectively. This makes Silver Bay a potentially attractive location for those seeking a more affordable lifestyle.
Silver Bay, MN, offers a cost of living that is notably lower than the nationwide average. The housing index stands at 85, which is 15% below the national average of 100. This suggests that housing costs in Silver Bay are more affordable, making it an attractive option for those looking to save on their living expenses. Additionally, groceries in Silver Bay are priced at 98, which is just 2% below the average, indicating that food costs are nearly on par with the rest of the country.
Utilities in Silver Bay are slightly below the national average, with an index of 95, representing a 5% decrease. This means that residents can expect to pay less for essential services like electricity and water. Transportation costs are also lower, with an index of 90, which is 10% below the average. This reduction in transportation costs can further contribute to overall savings. Healthcare costs remain consistent with the national average at 100, ensuring that medical expenses are comparable to other areas. Miscellaneous costs, with an index of 92, are 8% below the average, indicating a generally lower cost for other everyday expenses.
