Deerwood, MN
Population 649 · Minnesota
About Deerwood, MN
Deerwood is a small community in Minnesota with a population of 649 residents. The median household income is $62,679 per year, which is near the national average. The median age in Deerwood is 30.8 years.
Housing in Deerwood has a median home value of $214,700 and median monthly rent of $920. Of the 292 total housing units, the majority are owner-occupied, with 127 owner-occupied and 98 renter-occupied units.
The unemployment rate in Deerwood is 4.6% and the poverty rate is 9.4%. 30.5% of residents hold a bachelor's degree or higher. The average commute time is 22.4 minutes.
Cost of Living in Deerwood, MN
Compared to national averages, Deerwood has a median household income of $62,679 (17% below the national median of $75,149). Home values average $214,700, which is 12% below the national median. Monthly rent at $920 is 21% below the US average of $1,163. Within Minnesota, Deerwood's income is 16% below the state average of $74,221, and home values are 5% above the state median of $204,472.
Why Live in Deerwood, MN?
Deerwood offers affordable housing with a median home value of $214,700, below the US average of $244,900, and rent that’s lower than the national average at $920/month, and a low poverty rate of 9.4%, better than the national average. Additionally, the city features short commute times averaging just 22.4 minutes.
Potential considerations include median household income ($62,679) that falls below the national average. However, Deerwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Deerwood has a population of 649 with a median age of 30.8 years. Compare Deerwood with other cities to see how it stacks up, or explore all cities in Minnesota.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Deerwood
What is the population of Deerwood, MN?
The population of Deerwood, MN is 649 according to the latest Census data.
What is the median household income in Deerwood?
The median household income in Deerwood, MN is $62,679 per year.
What is the median home value in Deerwood?
The median home value in Deerwood, MN is $214,700.
What is the average rent in Deerwood?
The median monthly rent in Deerwood, MN is $920.
What is the unemployment rate in Deerwood?
The unemployment rate in Deerwood, MN is 4.6%.