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📍 Deer River, MN · Zillow ZHVI · July 2026

Average Home Price in
Deer River, MN

Grand Rapids, MN metro area · Itasca County County

Median Home Value
$255,663
↓ 0.2% year-over-year
vs. National Median
$410,000
Deer River is 38% below
Est. Monthly Payment
$1,333/mo
20% down · 6.8% rate
Income Needed
$68K
gross annual (30% rule)
Median Home Value
$255,663
↓ 0.2% year-over-year
Down Payment (20%)$51,133
Monthly P&I$1,333/mo
With Taxes & Ins.~$1,693/mo
Income Needed$67,720/yr
Data SourceZillow ZHVI
Market Overview

Home Prices in Deer River, MN

The median home value in Deer River, MN is $255,663 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.2% compared to a year ago and up 5.2% from two years prior.

Compared to the U.S. national median of $410,000, homes in Deer River are priced38% below average. Deer River is part of the Grand Rapids, MN metro area.

City Comparison

Deer River vs. National Median

🏠 Deer River
$255,663
National Median
$410,000

At $255,663, homes in Deer River cost 38% below the national median of $410,000. This makes Deer River a relatively affordable market for buyers seeking value.

Affordability

What Does It Cost to Buy in Deer River?

20% Down Payment
$51,133
on $255,663
Monthly P&I
$1,333/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,693/mo
incl. taxes & insurance
Income Needed
$67,720
gross annual (30% rule)
10% Down Option
$25,566
+ PMI applies
Loan Amount (20% dn)
$204,530
at current rates

Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.

FAQ

Frequently Asked Questions

What is the average home price in Deer River, MN?
The median home value in Deer River is $255,663 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.2% year-over-year.
How much have home prices changed in Deer River?
Over the past year, home values in Deer River have decreased by 0.2%.
How much do I need to earn to buy a home in Deer River?
To comfortably afford the median home price of $255,663 with a 20% down payment ($51,133) at today's rates (6.8%), you'd need a gross annual income of approximately $67,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Deer River compare to the national average home price?
The national median home value is approximately $410,000. At $255,663, homes in Deer River are 38% below the national average.
What metro area is Deer River part of?
Deer River is part of the Grand Rapids, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.