Silver Lake, IN Profile: Facts & Data

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Silver Lake, Indiana - Basic Facts

The Town of Silver Lake had a population of 911 as of July 1, 2020.

The primary coordinate point for Silver Lake is located at latitude 41.0723 and longitude -85.8917 in Kosciusko County. The formal boundaries for the Town of Silver Lake encompass a land area of 0.54 sq. miles and a water area of 0 sq. miles. Kosciusko County is in the Eastern time zone (GMT -5). The elevation is 902 feet.

The Town of Silver Lake (GNIS ID: 2397664) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Silver Lake is located within Township of Lake, a minor civil division (MCD) of Kosciusko County.

Alternate Unofficial Names for Silver Lake: Silver Lake Junction, Silver Lakeville, Silverlake, Silverlake Junction.

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Silver Lake, IN Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 911 (100%)
Population in Households 901 (98.9%)
Population in Families 739 (81.1%)
Population in Group Quarters1 10 ( 1.1%)
Population Density 1,699
Diversity Index2 18
 
 

INCOME

Median Household Income $54,041
Average Household Income $62,238
% of Income for Mortgage4 7%
Per Capita Income $23,980
Wealth Index5 52
 

HOUSING

Total HU (Housing Units) 489 (100%)
Owner Occupied HU 295 (60.3%)
Renter Occupied HU 71 (14.5%)
Vacant Housing Units 124 (25.4%)
Median Home Value $94,215
Average Home Value $124,575
Housing Affordability Index3 350
 

HOUSEHOLDS

Total Households 365
Average Household Size 2.47
Family Households 256
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.04% 0.15%
Households -0.03% 0.22%
Families 0.47% 0.0%
Median Household Income   1.01%
Per Capita Income   1.86%
Owner Occupied HU   0.07%

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Silver Lake, IN - Peer Comparisons by Rank and Percentile

The table below compares Silver Lake to the other 679 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 358 47th
Population Density # 198 71st
Median Household Income # 331 51st
Housing Affordability Index # 612 90th
Per Capita Income # 451 34th
Diversity Index # 199 71st

Additional comparisons and rankings can be made with a VERY EASY TO USE Indiana Census Data Comparison Tool.

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