Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 903, 351 total housing units (homes and apartments), and a median house value of $179,129, house prices in Deer River are solidly below the national average.
Single-family detached homes are the single most common housing type in Deer River, accounting for 54.90% of the city's housing units. Other types of housing that are prevalent in Deer River include large apartment complexes or high rise apartments ( 29.64%), mobile homes or trailers ( 11.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.38%).
People in Deer River primarily live in small (one, two or no bedroom) single-family detached homes. Deer River has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Deer River built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Deer River built between 1940-1969 ( 28.35%). A lesser amount of the housing stock also hails from between 2000 and later ( 26.80%). There's also some housing in Deer River built before 1939 ( 5.67%).
Deer River's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Deer River during the period has been just 5.63%, which is lower than 70% of US communities.
Over the last year, Deer River appreciation rates have trailed the rest of the nation. In the last twelve months, Deer River's appreciation rate has been 3.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Deer River were at 4.64%, which equates to an annual appreciation rate of 19.89%.
Importantly, this makes Deer River one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Minnesota, our data show that Deer River's latest annual appreciation rate is lower than 50% of the other cities and towns in Minnesota.
$179,129
for Minnesota
for nation
351
$1,001 / per month