Deer River, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Deer River, MN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Deer River Housing Market Information

With a population of 933, 377 total housing units (homes and apartments), and a median house value of $161,223, Deer River real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Deer River, accounting for 53.81% of the city's housing units. Other types of housing that are prevalent in Deer River include large apartment complexes or high rise apartments ( 26.19%), mobile homes or trailers ( 14.76%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.24%).

The most prevalent building size and type in Deer River are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.33% owning and 44.67% renting.

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 ( 31.90%). A lesser amount of the housing stock also hails from before 1939 ( 18.10%). There's also some housing in Deer River built between 2000 and later ( 7.14%).

Vacant housing appears to be an issue in Deer River. Fully 10.24% of the housing stock is classified as vacant. Left unchecked, vacant Deer River homes and apartments can be a drag on the real estate market, holding Deer River real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Deer River Home Appreciation Rates

Real estate appreciation rates in Deer River's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.03% during the period.

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 2.76%, 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 -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Deer River's latest annual appreciation rate is lower than 80% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$161,223

Deer River, MN HOME PRICES

Value Range
> $1,058,000 0.1
$794,001 - $1,058,000 1.0
$529,001 - $794,000 3.6
$423,001 - $529,000 3.1
$318,001 - $423,000 8.1
$212,001 - $318,000 17.4
$106,001 - $212,000 38.0
$53,001 - $106,000 18.3
$0 - $53,000 10.5

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
45.1306691667643 60.3696098562628

Number Of Homes And Apartments:
377

Deer River Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
48.96% 2.34% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$778 / per month

Homeownership Rate

Homeownership
Owners 55.33
Renters 44.67
Vacant 10.24

Housing Market Details

 

Age of Homes

AGE OF Deer River HOMES
2000 or Newer 7.1
1970 - 1999 42.9
1940 - 1969 31.9
1939 or Older 18.1

Types of Homes

TYPE OF Deer River HOMES
Single-Family 53.8
Townhomes 0.0
Small Apt. Buildings 5.2
Apt. Complexes 26.2
Mobile Homes 14.8
Other 0.0

Home Size

SIZE OF Deer River HOMES
No Bedroom 5.48
1 Bedroom 17.86
2 Bedrooms 24.76
3 Bedrooms 39.29
4 Bedrooms 11.90
5 or more bedrooms 0.71

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Zip Codes in Deer River, MN