Market Overview
Home Prices in Deerwood, MN
The median home value in Deerwood, MN is $447,531 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.2% compared to a year ago and up 0.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Deerwood are priced9% above average. Deerwood is part of the Brainerd, MN metro area.
Over the past five years, Deerwood home values have risen by approximately29.1%, reflecting strong long-term appreciation in this market.
Price History
Deerwood Home Price Trend
City Comparison
Deerwood vs. National Median
At $447,531, homes in Deerwood cost 9% above the national median of $410,000. Buyers in Deerwood should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Deerwood?
20% Down Payment
$89,506
on $447,531
Monthly P&I
$2,334/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,964/mo
incl. taxes & insurance
Income Needed
$118,560
gross annual (30% rule)
10% Down Option
$44,753
+ PMI applies
Loan Amount (20% dn)
$358,025
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 Deerwood, MN?
The median home value in Deerwood is $447,531 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.2% year-over-year.
How much have home prices changed in Deerwood?
Over the past year, home values in Deerwood have increased by 2.2%. Over five years, prices have risen approximately 29.1%.
How much do I need to earn to buy a home in Deerwood?
To comfortably afford the median home price of $447,531 with a 20% down payment ($89,506) at today's rates (6.8%), you'd need a gross annual income of approximately $118,560. This assumes keeping total housing costs at or below 30% of gross income.
How does Deerwood compare to the national average home price?
The national median home value is approximately $410,000. At $447,531, homes in Deerwood are 9% above the national average.
What metro area is Deerwood part of?
Deerwood is part of the Brainerd, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.