Silver Lakes
Solid value in a growing area
Median $227K·Schools 3.7/10
You wake up here and the first thing you notice is the lake—not some distant shimmer, but actual proximity, the kind that changes your morning. A subdivision carved into land that sits practically on the shoreline, where the daily rhythm involves water rather than distance from it. The nearest park is adjacent, which means you're not driving anywhere for trees or trails; you step outside and the Manistee National Forest's White Cloud Unit is right there. It's the kind of setup that rewards people who've lived elsewhere and learned that proximity to something real matters more than amenities you'll never use. The driving feels shorter out here—or maybe it's just that leaving and returning to water-adjacent land makes the trips feel purposeful. If you've spent time in subdivisions where the main feature is the cul-de-sac pattern, this one lands differently.
Why people love it here
$227K median
- 1 recent sale
Mortgage Calculator
Median home price in Silver Lakes
Estimated Monthly Payment
$1,541/mo
The interest rate shown is not an annual percentage rate (APR). Rate displayed is the current average 30-year fixed rate from the Freddie Mac Primary Mortgage Market Survey and is subject to change without notice. This is not a commitment to lend or an offer of credit. Your actual rate, payment, and costs may vary. Contact a loan officer for a personalized quote.
Guild Mortgage NMLS #3274. Equal Housing Lender. NMLS Consumer Access
Based on 3 rated schools nearby
Range: 3/10 to 4/10
School District: Baldwin Community Schools
Crime in Silver Lakes is reported at the city level, not the neighborhood level. The FBI doesn't publish reliable crime rates for individual neighborhoods, and within any community crime varies street to street. For an accurate, comparable picture, see the jurisdiction-wide figures for Lake County.
Lake County crime & safety stats →To buy a median-priced Silver Lakes home (around $227,000) at today's 6.43% 30-year fixed rate with 20% down, you'd need roughly $40k/year in household income to qualify — an estimated monthly payment of $1,503 (principal, interest, property tax est., and insurance).
| Down payment | Monthly payment | Income needed |
|---|---|---|
| 20% | $1,503/mo | $40,072 |
| 10% (+PMI) | $1,730/mo | $46,140 |
| 5% (+PMI) | $1,806/mo | $48,165 |
Estimates use a 6.43% 30-year fixed rate (current Freddie Mac average), an aggressive ~45% housing-to-income ratio (roughly what FHA underwriting can allow for a buyer with no other monthly debts — your number depends on your debts and credit), this area's median sale price, plus estimated insurance and PMI below 20% down. Not an APR or a commitment to lend — your actual rate and payment will vary.
Flood Risk
None
Not in flood zone
Nearest Park
Reed Lake Boating Access Site
0.5 mi
Parks Nearby
5
within 1 mile
Frequently asked about Silver Lakes
- What do homes cost in Silver Lakes?
- The median home value in Silver Lakes is about $227,000. Individual prices vary by street, size, and condition.
- How active is the Silver Lakes housing market?
- no homes are listed in Silver Lakes right now, and 1 home sold here in the last 12 months. Listings refresh throughout the day from the MichRIC MLS.
- What schools serve Silver Lakes?
- Silver Lakes is served by Baldwin Community Schools. Its highest-rated assigned school is Baldwin Elementary School (4/10).
Top contributors in Silver Lakes
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