Silver Bay, MN, offers a cost of living that is notably lower than the nationwide average. The overall cost of living index for Silver Bay stands at 87, which is 13% below the national average of 100. This reduction in cost is particularly evident in housing, where the index is 75, reflecting a 25% decrease from the average.
In other areas, Silver Bay's cost of living remains close to the national average. For instance, groceries cost 92, utilities at 85, transportation at 90, healthcare at 95, and miscellaneous expenses at 88. This balanced distribution makes Silver Bay a potentially attractive option for those seeking a lower cost of living without significant trade-offs in quality.
Silver Bay, MN, offers a cost of living that is notably lower than the nationwide average, which is set at 100. Housing costs in Silver Bay stand at 75, which means residents pay 25% less than the national average. This significant reduction in housing expenses can be a major draw for those looking to relocate or start a new job in the area.
In addition to housing, the overall cost of living in Silver Bay remains competitive. Groceries, utilities, and transportation are all slightly below the national average, with indices of 92, 85, and 90, respectively. Healthcare costs are also favorable, at 95, which is 5% less than the national average. Miscellaneous expenses, which include items like clothing and entertainment, are at 88, indicating an 12% savings compared to the national average. These factors combine to make Silver Bay an attractive option for those seeking a more affordable lifestyle.
