salaryRent is lower than in 58% of U.S. cities. A typical house costs about 3.9 years of household income. Most homes (82.2%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $59,600 a year. That is $29 an hour at a full-time job.
Is rent cheaper than other North Carolina cities?
Yes. Rent here is cheaper than in most of North Carolina. It is number 81 of 164 cities from cheapest to most expensive.
How much do households earn in Silver Lake?
Share of households by yearly income. 33.8% of households earn $100,000 or more.
Rent by apartment size in Silver Lake
| Size | Silver Lake | U.S. average |
|---|---|---|
| 1 bedroom | $1,000 | $1,324 |
| 2 bedrooms | $1,206 | $1,509 |
| 3 bedrooms | $1,570 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Silver Lake overall?
Everyday prices in North Carolina overall are 6% below the U.S. average (index 94.3, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Silver Lake, so the North Carolina figure is shown.
Taxes and bills in Silver Lake
Life in Silver Lake
Is it cheaper to rent or buy in Silver Lake?
Renting is cheaper right now: about $769 a month less.
Owning assumes a typical $325,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $32,550 for the down payment.
Frequently asked questions
What is the average rent in Silver Lake, NC?
Renting in Silver Lake costs a median of about $1,490 a month in 2026, including utilities. The North Carolina median is $1,496.
How much do I need to make to live in Silver Lake?
To keep rent under 30% of income, you need about $59,600 a year, or $29 an hour at a full-time job.
Is Silver Lake cheap or expensive?
Silver Lake is rated OK: rent takes 21.6% of the typical household income of $82,781. It ranks 81st cheapest of 164 North Carolina cities we track.
How much are property taxes in Silver Lake?
The median homeowner in Silver Lake pays $1,520 a year in property taxes, about 0.47% of the median home value.
Is Silver Lake more expensive than the national average?
Overall prices in North Carolina are 6% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Silver Lake?
The median home value in Silver Lake is $325,500, about 3.9 times the typical yearly household income.
6,563 people live in Silver Lake. Numbers are typical (middle) values.