Silver Lake Homes under $400,000

Welcome to Silver Lake, Minnesota, a charming small town nestled in the heart of McLeod County. Known for its picturesque landscapes and friendly community, Silver Lake offers a tranquil lifestyle that is perfect for families, retirees, and everyone in between. With a rich history and a close-knit atmosphere, this delightful town is an ideal place to call home.

Silver Lake boasts a variety of amenities, including local shops, parks, and recreational opportunities that cater to residents of all ages. The nearby lakes provide ample opportunities for fishing, boating, and enjoying the great outdoors, while the town itself hosts numerous events throughout the year, fostering a strong sense of community spirit.

For those looking to settle down in this idyllic setting, Silver Lake offers a selection of charming homes priced under $400,000. Whether you're searching for a cozy single-family home or a spacious property with room to grow, you'll find a diverse range of options that fit your budget. These homes often feature inviting interiors, well-maintained yards, and easy access to local amenities, making them perfect for anyone looking to enjoy a peaceful lifestyle without breaking the bank.

With its affordable housing market and welcoming atmosphere, Silver Lake is not just a place to live—it's a place to thrive. Discover the warmth of this community and the beauty of its surroundings as you explore the wonderful homes available in this enchanting town. Come and experience Silver Lake, where your dream home awaits!

Newest Silver Lake Homes under $400,000

$262,500

ACTIVE Status ⋅ 4 Beds ⋅ 1 Baths ⋅ 7140095 MLS ⋅ 1,700 SqFt.

Welcome to serene lakefront living! Situated on nearly an acre with 100 feet of direct shoreline on Silver Lake, this 4-bedroom, 1-bathroom home offers the perfect blend of major system upgrades and premier outdoor living. Enjoy panoramic lake views and natural light throughout the open-concept living, kitchen, and dining space. On the main floor, you'll also find a dedicated bedroom and full bath. Upstairs, you'll find three additional bedrooms alongside a versatile loft area. Mechanical upgrades bring peace of mind, including a new furnace and central AC (2024), along with an upgraded 200-amp electrical service (2025). Exceptional value continues outdoors with a detached garage fully serviced in Summer 2025 with heat, electric, water, sewer, and a dedicated 100-amp sub-panel. Attached to the garage, you'll find an almost 500-square-foot semi-finished flex space—currently set up as a pet salon—offering endless potential for a home business, workshop, studio, or extra storage. Complete with a 40-foot aluminum rollout dock, this property offers effortless, low-maintenance living with plenty of room to enjoy the outdoors.

1104 Main Street W, Silver Lake

Listing courtesy of Engel & Volkers Minneapolis.

$365,000

ACTIVE Status ⋅ 3 Beds ⋅ 4 Baths ⋅ 7142428 MLS ⋅ 3,205 SqFt.

Welcome to this beautifully updated 3BR 4BA four-level split home offering over 3000 finished SF; renovated by Richard Larson Builders in 2017-18, this impressive home combines modern updates, quality craftsmanship and spacious living areas designed for everyday comfort & entertaining; the open concept main level features a stunning updated kitchen with custom cabinetry, a center island & new flooring; the kitchen flows seamlessly into the dining room & invitiing living room, complete with a cozy gas fireplace; a convenient mudroom and 1/2 bath are located just off the garage; upper level includes primary bedroom with private bath, second bedroom, and updated tiled full bath; continue to the 3rd level where you'll find a large family room highlighted by a beautiful custom stone fireplace along with a third bedroom and 3/4 tiled bath; fourth level provides flexible bonus space with abundant storage; oversized 2-stall garage offers an impressive 776 SF of space, providing plenty of room for vehicles & storage; outside enjoy the spacious backyard featuring a maintenance free deck, paver patio with firepit & storage shed; new windows 2024; with extensive updates & multiple living areas, this home offers the space and versatility you've been looking for! This is a must see property to appreciate the spacious backyard this property offers. Seller is paying the estimated assessment of $11,400.

316 Lake Avenue N, Silver Lake

Listing courtesy of Edina Realty, Inc..

$369,900

ACTIVE Status ⋅ 3 Beds ⋅ 2 Baths ⋅ 7138561 MLS ⋅ 2,016 SqFt.

COUNTRY LIVING CLOSE TO TOWN! Enjoy the perfect blend of privacy, space, and convenience with this 2002, 3-bedroom, 2-full-bath, one-level home situated on 3.43 acres with 2 oversized garages. The property features a densely wooded backyard with walking paths and a cute little camper patio area in back, great for relaxing and entertaining. Inside the home, you’ll find generous living spaces, a private primary suite with a full bath and walk-in closet, and a convenient office off primary. The spacious kitchen offers abundant cabinetry and counter space, center island, and breakfast nook, while the adjoining dining and living areas feature a built-in hutch, display cabinetry, and a stone fireplace. The rear deck leads into the mudroom/laundry room with plenty of storage, followed by two additional spacious bedrooms, each with a walk-in closet, and a full bath in the hallway. Garage and workshop space is exceptional, main 39x30 garage with a concrete apron and a separated 12x30 insulated and heated section of it with its own access. Additional 27x33 back garage—perfect for extra vehicles, hobbies, storage, or why not another workshop? A aged granary provides more possibilities as well as a chicken coop. Mature trees, wooded backyard privacy, ample garage space, easy one-level living, and a fantastic location close to town, this acreage is an excellent opportunity to enjoy country living!

20210 County Road 2, Silver Lake

Listing courtesy of Kubes Realty Inc.

$265,050

ACTIVE Status ⋅ 3 Beds ⋅ 2 Baths ⋅ 7109296 MLS ⋅ 1,644 SqFt.

213 Century Lane, Silver Lake

Listing courtesy of Minnesota Property Shop.

$300,000

ACTIVE Status ⋅ 4 Beds ⋅ 2 Baths ⋅ 7069678 MLS ⋅ 1,812 SqFt.

Beautifully updated 4-bedroom, 2 bath home located on the east side of Silver Lake with convenient access to Hwy 7 for commuters. This well-maintained property features a welcoming living room, kitchen and dining area with updated appliances, two bedrooms, and a full bathroom. The lower level includes a comfortable family room with fireplace, two additional bedrooms, and second full bath. Numerous recent improvements include shingles and steel siding in 2024, plus a new furnace and central air system installed in 2025. The heated and insulated garage adds extra comfort and functionality year-round and includes a newer garage door and opener. Enjoy the large private backyard with plenty of space for outdoor entertaining, play or relaxing evenings at home.

104 Century Lane, Silver Lake

Listing courtesy of Edina Realty, Inc..

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