Deerwood, MN—56444
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Deerwood, MN
As of Oct '25, the median home price in Deerwood, MN is $417,000, with a year-over-year change of -1.1%. This indicates that home prices in Deerwood, MN are decreasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $417,000 | -1.1% |
| Single Family | $418,000 | -1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $364,000 | -0.3% |
3 Bed | $430,000 | -1.1% |
4 Bed | $555,000 | -0.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Deerwood, MN
Deerwood, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Deerwood, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Deerwood, MN is 67. This is a increase of 55.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $372,000 | -13.0% |
Listing Count | 22 | -5.0% |
| Listings as % of Homes | 0.4% | -5.0% |
Days on Market | 67 | 55.0% |
Demographics — Deerwood, MN
As of the latest ACS Survey released in 2023, Deerwood, MN has a population of 3,380, which has increased by 9.4% over the past 5 years. Deerwood, MN is a moderately popular place for families, as children make up 23.8% of the population. The area has a moderately educated workforce, with 37.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,380 | 9.4% |
% Under 18 | 23.8% | 43.4% |
% Seniors | 26.6% | -16.4% |
% WFH | 15.4% | 214.3% |
% w/ College Degree | 37.9% | 54.1% |
As of the latest ACS Survey released in 2023, Deerwood, MN is a predominantly white area, with 94.2% of the population identifying as white. The white population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Deerwood, MN is asian, making up 0.3% of the population. Foreign-born residents account for 0.5% of the population in Deerwood, MN, and this percentage has decreased by 28.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.2% | 0.4% |
% Black | 0.2% | -86.7% |
% Hispanic | 0.1% | -97.4% |
% Asian | 0.3% | ∞% |
% Foreign Born | 0.5% | -28.6% |
Mortgage and Risk — Deerwood, MN
According to HUD data as of 2023, there were 66 mortgage originations in Deerwood, MN, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Deerwood, MN. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 66 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 2.0% |
% Second Loans | 33.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Deerwood, MN
Deerwood, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | N/A | N/A | $1,410 |
Affordability — Deerwood, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $417,000 |
| Median Household Income | $74,300 |