Beginning in 1874, the lake and the land surrounding it was a popular amusement park in the Akron area. The lake was acquired in 1876 by Ralph H. Lodge and he subsequently also purchased the land surrounding the body of water. It was originally a picnicking and swimming area, but before it closed Silver Lake Amusement Park featured animal exhibits, a roller coaster, sport facilities, a dance hall, and a hotel, becoming one of the "biggest attractions in Ohio." In its prime, the Silver Lake Amusement Park received over 10,000 visitors per day. It was sold in 1917 and subdivided for residential development, leading to the incorporation of the village in 1918.
As of the census of 2010, there were 2,519 people, 1,004 households, and 789 families residing in the village. The population density was. There were 1,066 housing units at an average density of. The racial makeup of the village was 96.9% White, 0.6% African American, 0.1% Native American, 1.5% Asian, 0.1% Pacific Islander, 0.2% from other races, and 0.6% from two or more races. Hispanic or Latino of any race were 1.3% of the population. There were 1,004 households of which 28.0% had children under the age of 18 living with them, 69.9% were married couplesliving together, 6.3% had a female householder with no husband present, 2.4% had a male householder with no wife present, and 21.4% were non-families. 19.2% of all households were made up of individuals and 9.9% had someone living alone who was 65 years of age or older. The average household size was 2.50 and the average family size was 2.85. The median age in the village was 49.9 years. 20.5% of residents were under the age of 18; 5.7% were between the ages of 18 and 24; 15.3% were from 25 to 44; 38.9% were from 45 to 64; and 19.7% were 65 years of age or older. The gender makeup of the village was 49.8% male and 50.2% female.
2000 census
As of the census of 2000, there were 3,019 people, 1,235 households, and 918 families residing in the village. The population density was 2,129.2 people per square mile. There were 1,316 housing units at an average density of 928.1 per square mile. The racial makeup of the village was 98.24% White, 0.13% African American, 0.10% Native American, 0.70% Asian, 0.17% from other races, and 0.66% from two or more races. Hispanic or Latino of any race were 0.79% of the population. There were 1,235 households out of which 27.3% had children under the age of 18 living with them, 68.6% were married couples living together, 4.5% had a female householder with no husband present, and 25.6% were non-families. 23.9% of all households were made up of individuals and 17.7% had someone living alone who was 65 years of age or older. The average household size was 2.43 and the average family size was 2.88. In the village, the population was spread out with 22.7% under the age of 18, 3.8% from 18 to 24, 19.1% from 25 to 44, 27.2% from 45 to 64, and 27.1% who were 65 years of age or older. The median age was 48 years. For every 100 females there were 89.8 males. For every 100 females age 18 and over, there were 84.4 males. The median income for a household in the village was $70,875, and the median income for a family was $79,286. Males had a median income of $64,265 versus $38,529 for females. The per capita income for the village was $35,614. About 1.1% of families and 2.8% of the population were below the poverty line, including none of those under age 18 and 6.8% of those age 65 or over.
