Silver Lake Homes under $400,000

Welcome to Silver Lake, Minnesota, a charming small town nestled in McLeod County that perfectly blends the warmth of community with the beauty of nature. With its picturesque landscapes and friendly atmosphere, Silver Lake is an ideal place to call home. This quaint town boasts a rich history and a tight-knit community, making it a welcoming destination for families, retirees, and anyone looking for a peaceful lifestyle.

One of the most appealing aspects of Silver Lake is its affordability. With a variety of homes available for under $400,000, you can find your dream property without breaking the bank. Whether you’re looking for a cozy single-family home with a spacious yard or a charming cottage that exudes character, Silver Lake has something for everyone. The real estate market here offers a range of options, from modern builds to classic homes with timeless appeal, all set against the backdrop of serene landscapes.

In addition to its affordable housing, Silver Lake is known for its strong community spirit. Residents enjoy local events, farmers markets, and recreational activities that foster connections and create lasting memories. The nearby parks and lakes provide ample opportunities for outdoor adventures, making it easy to embrace the natural beauty that surrounds you.

If you’re seeking a peaceful retreat with a vibrant community and affordable housing options, look no further than Silver Lake, MN. Your new home awaits in this delightful town where charm and affordability go hand in hand. Come explore the possibilities and discover why so many choose to call Silver Lake home!

Newest Silver Lake Homes under $400,000

$262,500

4 Beds ⋅ 1 Baths ⋅ 7140095 MLS

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

3 Beds ⋅ 4 Baths ⋅ 7142428 MLS

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

3 Beds ⋅ 2 Baths ⋅ 7138561 MLS

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

3 Beds ⋅ 2 Baths ⋅ 7109296 MLS

213 Century Lane, Silver Lake

Listing courtesy of Minnesota Property Shop.

$300,000

4 Beds ⋅ 2 Baths ⋅ 7069678 MLS

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..

Start Your Search

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.